SWIFT/BIC codes in Tanzania

SWIFT/BIC codes in Tanzania

This directory covers 62 banks and other institutions in Tanzania, with 97 SWIFT/BIC codes in total. Each code identifies a bank or one of its branches.

Look for the bank you need below and click through for all codes we have and the details a transfer needs. Below the list we explain how a code from Tanzania is put together, how to send money there at a fair price and how to check a code before you pay.

Getting paid from abroad into an account in Tanzania

To receive an international payment into a Tanzania account, the sender needs more than the SWIFT code. Give them the account holder’s name, the IBAN or account number, your bank’s SWIFT code and your address.

Find the bank in the list above and compare the code with your own bank details – your bank statement is the final word. Certain banks may also ask for the name and address of your bank.

The amount you receive can be lower than what was sent. Correspondent banks can take a fee, your bank may charge for incoming payments, and when currencies differ, a markup on the rate comes on top. Agree with the sender who pays which costs, especially for larger amounts.

What the letters in a Tanzania BIC mean

A BIC is either 8 or 11 characters long. The first four letters identify the bank, the fifth and sixth characters form the country code and the next two mark the location.

You can recognise a code from Tanzania from letters five and six. A code with other letters in that position belong to a bank abroad.

If the last three are XXX, it refers to the head office and the short version works just as well. In most cases the head office code is fine unless the recipient asks for a specific branch.

Tracking a payment to Tanzania

How fast money reaches Tanzania is determined by a few things: the currency, how many intermediary banks are involved, cut-off times and differences in time zone. Transfers sent after the cut-off time or just before a weekend or public holiday usually start the next business day.

Many banks are connected to SWIFT gpi for faster and traceable payments. Every payment carries a unique transaction reference, the UETR. Save the payment confirmation.

Sending money to Tanzania for less

When you transfer money to Tanzania through a regular bank, the fee you see is only part of the cost. You pay the transfer fee, possibly charges from intermediary banks along the way and, most importantly, the exchange rate markup.

The markup on the rate is often the biggest part of the cost. Check the rate you are offered with the mid-market rate; the gap is what conversion costs you.

For many routes, a specialist provider is cheaper than a bank, mainly because of the rate. Before your next transfer to Tanzania, it is worth to compare what arrives on GoldexPay.

About our data and how to check a code

The best place to find the right code remains paperwork issued by the bank, such as a statement or the account page in online banking. A wrong code may lead to delays, a returned payment or extra fees.

This list draws on publicly available sources and is updated regularly. Still, banks merge or retire codes and our data may lag behind. For any payment that matters, check the code with the recipient’s bank. We are an independent comparison site for money transfers.

Scammers often use payment requests with new bank details from what looks like a familiar address. Always confirm changed details by phone on a number you know.

International payments to Tanzania and the BIC

For Tanzania you usually need a SWIFT/BIC code, because the country is outside the SEPA area. Without it, most banks cannot process the transfer at all.

Not every country uses IBAN numbers – where there is none, the local account number is enough. Check with the recipient which details their bank requires for payments from abroad – many banks give clear instructions for this. On the way to Tanzania, a payment can go through correspondent banks that charge for their part.

The largest SWIFT network in Tanzania: National Bank of Commerce, The

Of all banks we list for Tanzania, National Bank of Commerce, The is listed with the largest number of SWIFT codes. Its main office uses NLCBTZTXXXX; that is usually the right code for a transfer.

How many codes a bank has says more about how it registers branches and services than about its size. Making a payment to National Bank of Commerce, The? Go with NLCBTZTXXXX except when a specific branch code is requested.