What BFTVVNVX means for a payment to Joint Stock Commercial Bank For Foreign Trade of Vietnam
If an invoice shows BFTVVNVX or BFTVVNVXXXX, you are looking at the identical address for Joint Stock Commercial Bank For Foreign Trade of Vietnam in Vietnam. A BIC does one job: it ensures that a cross-border transfer reaches the right bank. You will need it mostly for payments that cross a border and payments in foreign currencies.
Below we go through the practical side: receiving money at Joint Stock Commercial Bank For Foreign Trade of Vietnam, paying someone in another country and how to check the code before you hit send. Keep in mind that the SWIFT code only identifies the bank, not the person: the account number or IBAN does that part.
What a transfer from Joint Stock Commercial Bank For Foreign Trade of Vietnam abroad really costs
The price of a payment abroad has several parts, and the transfer fee is only the most visible one. On top of the transfer fee, banks in between can take a cut, and when the money changes currency the bank usually applies a rate below the actual market rate.
Banks do not list their exchange rate markup as a cost. A simple test: set the bank’s rate against the mid-market rate for the same moment and work out the difference on your amount.
Money transfer services frequently offer a rate near the mid-market rate with clearer fees. GoldexPay compares the amount that arrives with different providers. Using a transfer service does not require closing your account at Joint Stock Commercial Bank For Foreign Trade of Vietnam – you pay the provider from your own account.
Joint Stock Commercial Bank For Foreign Trade of Vietnam: head office code versus branch codes
Having 91 codes in 54 locations, Joint Stock Commercial Bank For Foreign Trade of Vietnam is one of the banks that use individual codes for branches. The head office code is BFTVVNVXXXX.
For the vast majority of incoming transfers, the head office code BFTVVNVXXXX is what you need. Only use a branch code when your contact gives you that exact code.
If you are not sure, ask the person you are paying which code their bank gave them. Codes can change when banks reorganise.
How to check BFTVVNVX before you pay
Have the recipient send you their bank details directly from their banking app. If the code you have does not match BFTVVNVX or BFTVVNVXXXX, do not guess.
With a wrong code, the payment may get stuck, bounce back or cost extra. An error in the account number can be more serious, so check that just as carefully.
A format check in your banking app merely confirms that the IBAN is valid. If your bank offers it, a name check before sending adds extra certainty. When you pay someone new, many people start with a small amount first before sending the rest.
When will the money arrive at Joint Stock Commercial Bank For Foreign Trade of Vietnam?
There is no fixed delivery time for every transfer: many arrive the same day or the next. Payments made late in the day or just before a weekend or public holiday usually start a business day later. Sometimes a bank wants to know about the purpose of a payment, which can hold things up.
If a transfer is late, contact your bank about the tracking status or the UETR; with that reference banks can see where the payment is. Keep your transfer receipt until the money has arrived – you will need it for any trace request.
A delayed transfer is traced by the sending bank on the basis of the transfer details. As a recipient, it helps to look at your statements for a slightly lower amount because fees can reduce the amount.
Why Joint Stock Commercial Bank For Foreign Trade of Vietnam has an 8- and an 11-character code
A SWIFT code is made up of a few fixed parts: characters one to four identify the bank, characters five and six show the country and the two after that indicate the location. Combined, those parts make up BFTVVNVX – the version you usually see online.
Most banks and apps work with either length. If a form requires eleven characters, enter BFTVVNVXXXX; if it wants eight, use BFTVVNVX.
As a rule the code is typed in capitals. Look out for O versus 0 and I versus 1, a common source of typos.
Scams that use SWIFT codes
Criminals often use fake invoices with changed bank details, sometimes in an email that looks completely genuine. A valid SWIFT code tells you nothing about whether the request is genuine – scammers simply use real codes.
Never trust a phone number from the same email that contains the change. Watch out for urgent requests, unusual wording or an email address that differs by one letter. Acted too fast? Call your bank without delay and ask them to try to recall the payment; also report it to the police.
Scams also work the other way: someone sends too much and asks you to refund the extra. A screenshot of a transfer proves nothing – check your own account.
Receiving money from abroad at Joint Stock Commercial Bank For Foreign Trade of Vietnam
For a transfer from abroad at Joint Stock Commercial Bank For Foreign Trade of Vietnam, the sender has to have more than the SWIFT code. Give them your name as the bank knows it, your account number or IBAN, SWIFT code BFTVVNVXXXX and your address.
Some banks want the address of Joint Stock Commercial Bank For Foreign Trade of Vietnam in Hanoi; it does no harm to include it. Check each detail before you send them – a sender rarely spots a mistake in someone else’s details.
The amount you receive is often less than what was sent. Charges on incoming payments differ from bank to bank; check the price list of Joint Stock Commercial Bank For Foreign Trade of Vietnam. Make clear with the sender who covers the fees, especially for larger amounts.
Where our SWIFT data comes from
The codes here come from public sources. Even so, banks merge, rename themselves or retire codes, so information can be out of date. Counts and locations come from our own dataset and may differ from what Joint Stock Commercial Bank For Foreign Trade of Vietnam publishes.
See the information on this page as a helpful check, and let the details from the recipient or Joint Stock Commercial Bank For Foreign Trade of Vietnam have the final say. GoldexPay is a comparison site for money transfers and not part of Joint Stock Commercial Bank For Foreign Trade of Vietnam. Spotted an error? Tell us via our contact form and we will look into it.
Source: listbase-org SWIFT/BIC database (MIT licence), updated monthly. Always verify the code with the recipient or their bank.