Crdb Bank Limited SWIFT/BIC code

Crdb Bank Limited SWIFT code: CORUTZTZ

Whether you are given CORUTZTZ or CORUTZTZXXX, you are looking at the identical identifier for Crdb Bank Limited in Tanzania. A SWIFT code tells the banks handling a payment which institution is meant to get the money, a bit like a postal address for banks. In practice you mostly see it on invoices from abroad, in payment forms and on the account details of Crdb Bank Limited customers.

We wrote this page to help anyone who receives money at an account at Crdb Bank Limited without mistakes. The SWIFT code on its own does not identify an individual account holder; for that you need the account number or IBAN is for.

CORUTZTZ or CORUTZTZXXX – which one to use?

The structure of every SWIFT code is always the same: a bank code of four letters, a two-letter country code and two for the location, sometimes followed by a branch code. Together, these eight characters make up CORUTZTZ, the code most people search for.

XXX at the end of CORUTZTZXXX does not stand for a placeholder or an error: it indicates the head office of Crdb Bank Limited. Certain payment forms insist on 11 characters, in which case you can add XXX behind CORUTZTZ.

As a rule the code is written in capitals, without spaces or dashes. Copying the code is safer than typing it by hand.

Changed bank details? Be careful

One of the most common tricks works like this: you receive a message saying that a company has a new bank account and that the next payment should go there. The fact that CORUTZTZ exists is no guarantee that a request mentioning it is legitimate; criminals use the codes of real banks too.

Always confirm a change of bank details by phone. Watch out for time pressure, unusual wording or an email address that differs by one letter. Already paid? Contact your bank straight away and have them try to recall the payment; also report it to the police.

Fraud also work the other way. Someone claims to have sent more than agreed and wants you to return the extra to a new account. A payment confirmation from the sender proves nothing – check your own account.

Which of the 7 codes of Crdb Bank Limited do you need?

Crdb Bank Limited has 7 different SWIFT/BIC codes across 5 locations. One of them is the head office code, CORUTZTZXXX; the others identify branches, and sometimes internal departments.

If nobody asks you for a branch code, use CORUTZTZXXX. A branch code only makes sense when the account holder specifically mentions it.

Not sure which code applies? Ask the recipient, or look at a recent statement from Crdb Bank Limited. Codes can change when banks reorganise, so a code from an old document is not always valid.

Sending money abroad from Crdb Bank Limited

A bank transfer abroad can cost more than the listed fee. On top of the transfer fee, correspondent or intermediary banks may take a cut, and if currencies are converted, the bank often uses a rate that is less favourable than the real market rate.

Many banks do not show the margin on the rate as a cost. Compare their rate against the mid-market rate; the gap is what conversion costs you.

Specialised transfer providers often use rates closer to the mid-market rate. Before your next transfer, it is worth comparing what arrives via GoldexPay instead of going straight to your bank. You can always keep your account at Crdb Bank Limited, while a cheaper service handles the conversion.

Receiving money from abroad at Crdb Bank Limited

When you are waiting for a payment from another country, send the payer a complete set of details. In practice that means: your name exactly as it appears on the account, your account number or IBAN, the BIC CORUTZTZXXX and sometimes your postal address.

Certain sending banks also ask for the name and address of Crdb Bank Limited; it does no harm to include it. Double-check the details before you send them – a sender rarely spots a mistake in someone else’s details.

The amount you receive can be lower than the amount sent. Charges on incoming payments differ per bank. Make clear with the sender who covers the fees before the money is sent.

Tracking a transfer to or from Crdb Bank Limited

There is no single delivery time for international payments: many arrive the same day or the next, others take several business days. Bank holidays in the sending or receiving country can add a day or more. Compliance checks by one of the banks may also cause some delay, even when all details are correct.

Many banks use SWIFT gpi. Each gpi transfer carries a unique transaction reference, the UETR. Specialist transfer services usually provide a status online so you can see how far the payment is.

If the money does not arrive within the expected time, the person who paid needs to contact the bank that sent it, not the receiving bank. On the receiving end, it helps to check your statements to see a partial amount, since fees may have been deducted.

Before you send: check the Crdb Bank Limited code

The safest source for the BIC is the recipient’s own bank details: an invoice, a bank statement or their online banking. If the code you have does not match CORUTZTZ or CORUTZTZXXX, stop and ask.

A wrong SWIFT code can cause a delay, a payment being sent back or extra fees for investigation. Remember the account number: an error there is harder to correct than a wrong BIC.

An automatic check by your bank merely confirms that the code is valid, not that it is the right account. More and more banks check the payee name against the account – do not ignore a mismatch warning. Sending a small amount first is worth it for a large first payment despite the extra fee.

About this information

We gather bank codes using public sources and check them from time to time. Still, banks merge or retire codes. Counts and locations come from our directory and are not confirmed by Crdb Bank Limited.

Before a payment that matters, confirm the code with Crdb Bank Limited or with the recipient. GoldexPay is not affiliated with Crdb Bank Limited. Should you notice a mistake, we welcome a message.