SWIFT/BIC codes in Zimbabwe

SWIFT/BIC codes in Zimbabwe

Our directory covers 55 banks and other institutions in Zimbabwe and 64 SWIFT/BIC codes between them. Each code points to an institution or a specific branch or department and tells other banks where an international payment should go.

Every bank has its own page with its main code and, where available, branch codes. The rest of this page explain the structure of the codes, the cost of transfers and how to avoid mistakes before you send money.

Getting paid from abroad into an account in Zimbabwe

A sender in another country will ask for a few details about your account. Share the account holder’s name, your account number or IBAN, your bank’s SWIFT code and your address.

The code of your bank appears in our list, yet the version on your own statement or in your banking app is leading. Some banks may also ask for your bank’s address, so keep it at hand.

The amount you receive can be less than what was sent. Intermediary banks may deduct a fee and your own bank may charge for processing, and if the money is converted, an exchange rate margin applies. For business payments, agree who bears the costs, so nobody is left short.

Tracking a payment to Zimbabwe

An international transfer to Zimbabwe typically needs one to a few business days. Public holidays in either country can add extra days.

When a payment takes longer than expected, ask the sender to contact the sending bank and ask for the status or the UETR; only the sending side can start an official trace. Specialist transfer services usually show a status online.

How SWIFT codes from Zimbabwe are built

SWIFT/BIC codes use the same format worldwide: eight characters. First comes a four-letter bank code, then a two-letter country code and a two-character location code.

Whatever the bank, every code from Zimbabwe share the same fifth and sixth letters, namely the ISO code of Zimbabwe. Codes with other letters in that position come from a bank abroad – a quick way to catch mistakes.

The long version adds a branch code. For most transfers the head office code is what you need.

What a transfer to Zimbabwe really costs

If you send money to Zimbabwe via a regular bank, the fee you see is only part of what you pay. There is the transfer fee, sometimes fees from correspondent banks along the way and, most importantly, the exchange rate markup when currencies differ.

That exchange rate margin is often the biggest part of the cost because it is hidden in the rate. A simple test: set the offered rate against the mid-market rate and work out the difference on your amount.

Money transfer services often use a rate near the mid-market rate and lower fees. On GoldexPay you can compare what recipients in Zimbabwe receive with different providers.

The largest SWIFT network in Zimbabwe: Scotfin Limited

Of the 55 banks we list for Zimbabwe, Scotfin Limited is listed with the largest number of codes. Its head office code is SCLIZWH1XXX – the code most transfers need.

How many codes a bank has says more about how it organises its payments than about how big it is. Unless a branch code is given, the head office code SCLIZWH1XXX works for a payment to Scotfin Limited.

Why a transfer to Zimbabwe needs a SWIFT code

Zimbabwe is outside the SEPA area, so European euro rules do not apply. International transfers to Zimbabwe usually go through the SWIFT network, and the BIC of the receiving bank is required.

Not all countries use IBAN numbers; in that case the local account number is used instead. Ask the recipient which details their bank needs for incoming international payments – many banks give clear instructions for this. SWIFT payments sometimes go via one or more intermediary banks, each of which may deduct a fee.

Check the code before you pay

Have the recipient copy their bank details straight from their online banking. A wrong code can cause a delay, a returned payment or additional charges.

The directory on GoldexPay is based on public sources and is updated regularly. Even so, banks merge or retire codes, so information can be out of date. Treat our data as a starting point, not as the final word. GoldexPay is an independent comparison site.

Fraudsters regularly use payment requests carrying new bank details that look completely genuine. A real SWIFT code tells you nothing about whether a request is genuine: criminals use real codes too.