Banco Financiero SWIFT/BIC code

What BANFVEC1 means for a payment to Banco Financiero

The 8-character code BANFVEC1 and the full code BANFVEC1XXX refer to one and the same institution: Banco Financiero, with its head office in Caracas. Every bank on the SWIFT network uses BIC codes to direct payments between countries to the correct bank. In daily life you mostly see the code on international invoices, in your banking app and on the account details that Banco Financiero provides.

On this page you can read how the code is put together, when it matters and what else a transfer to or from Banco Financiero requires. A SWIFT code identifies an institution, never a single account, which is why you always need the account number too.

International transfers from Banco Financiero: the real cost

When you send money abroad through Banco Financiero, the visible fee is only part of what you pay. There is the transfer fee, possibly charges from correspondent banks along the way and, most importantly, the margin on the exchange rate.

The markup on the rate tends to be the biggest item even though it is not listed as a fee. Compare their rate against the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

Specialist money transfer services frequently use rates closer to the mid-market rate. GoldexPay compares transfer providers side by side, showing what actually arrives before you commit. Choosing a specialist does not mean closing your account at Banco Financiero: you simply pay the service from your account.

How to check BANFVEC1 before you pay

The most reliable source for a SWIFT code is the recipient’s own bank details. If the code you have does not match BANFVEC1 or BANFVEC1XXX, do not guess: check with the recipient or with Banco Financiero directly.

Mistakes in the BIC tend to be costly rather than disastrous – usually the money comes back, minus fees and time lost. Remember the account number: an error there is harder to undo than a wrong BIC.

A format check by your bank merely tells you that the code exists, not that it is the right account. Where available, a payee name check before sending adds an extra layer of safety. For a first payment, many people send a small amount first and wait for confirmation.

Watch out for payment fraud

Criminals often use payment requests with new bank details sent from what looks like a familiar address. That BANFVEC1 is a real code does not mean that the account is legitimate.

Do not trust a phone number from the same email that announces the new account. Urgency or secrecy are warning signs; a genuine business can wait for you to check. Already paid? Contact your bank straight away and have them start a recall and report the fraud.

Scams also work the other way. Someone sends too much and wants you to refund the extra via a different route. Wait until the money is actually in your account and check with Banco Financiero if anything seems off.

BANFVEC1 or BANFVEC1XXX – which one to use?

A BIC is made up of fixed blocks: characters one to four stand for the bank, characters five and six give the country and characters seven and eight mark the location. Combined, those parts form BANFVEC1 – the version you usually see online.

Most payment forms accept both lengths. If yours asks for eleven characters, use BANFVEC1XXX; if it wants eight, use BANFVEC1.

Leave out spaces or dashes when you type BANFVEC1; the code is always written in one block. A single letter can send a payment to another bank, so check it twice.

About this information

We gather SWIFT/BIC codes from publicly available data and update them regularly. Banks merge, change names and retire codes. The figures on this page are based on what is in our directory and not on information from Banco Financiero itself.

Before any payment of any size, confirm the code with Banco Financiero or the recipient. We are a comparison service and not affiliated with Banco Financiero. Found outdated information? Let us know via our contact form so we can correct it.

Banco Financiero: head office code versus branch codes

Our directory lists 5 SWIFT/BIC codes for Banco Financiero in 5 cities. Next to the head office code BANFVEC1XXX, there are codes for branches, departments or specific services.

If nobody asks you for a branch code, use BANFVEC1XXX. When you receive a specific code, use it as it is instead of swapping it with the head office code.

Unsure which code applies? Ask the recipient. Codes for branches are more prone to be retired than BANFVEC1XXX.

Incoming international payments to Banco Financiero

A sender in another country will ask for several details from you. Share the account holder’s name, the IBAN or account number, SWIFT code BANFVEC1XXX and your address, which some banks require.

Certain banks also ask for the address of Banco Financiero in Caracas, so keep it at hand. Double-check each detail before you send them.

An incoming payment does not always arrive in full. Fees for incoming transfers vary per bank; check the price list of Banco Financiero. Agree with the sender who covers the fees, especially for larger amounts.

When will the money arrive at Banco Financiero?

There is no single delivery time for every transfer: many arrive within a day. Weekends and public holidays in the sending or receiving country can add a day or more, since banks do not process on those days. Extra checks on larger or unusual payments may also add some delay.

If a transfer is late, contact your bank for the tracking status or the UETR so they can trace it along the chain. Save your transfer receipt until the recipient confirms; it contains the details a bank needs to start a trace.

A missing payment has to be traced from the sending side on the basis of the transfer details. On the receiving end, you can check your account for a partial amount, since fees may have been deducted.