Tag: banking in Nicaragua
A key element of investing in Nicaragua is paying for an acquisition. Also, if it is a business being purchased or a new business being established, funds will need to be transferred to the business bank account. Fortunately, funds can be transferred to banks in Nicaragua from anywhere in the world using SWIFT codes. Most major banks use SWIFT codes.
SWIFT code is a standard Bank Identifier Code (BIC). Each bank has a unique identification code that is used when transferring money from bank to bank, especially in the case of international wire transfers.
A SWIFT code consists of eight (8) or eleven (11) characters. If only 8 digits are given, the code refers to the primary office. The SWIFT code format is: AAAA BB CC DDD
AAAA – Four characters denoting the bank code, letters only.
BB – ISO 3166-1 alpha – 2 country code, letters only.
CC – location code, letters and digits. (Note: passive participant will have “1” as the second character)
DDD – branch code, used only if applicable, letters and digits.
There are over 40,000 “live” SWIFT codes. A “live” code is the SWIFT code issued to a partner bank that is connected to the SWIFT network. There are more than 50,000 additional code used for manual transactions. These additional codes are for the passive participants. The number naturally fluctuates as new banks open, other’s close, banks merge and/or banks join or leave the SWIFT code partnership.
SWIFT Code registrations are managed by the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”), which is headquartered in La Hulpe, Belgium.
Below are the SWIFT codes of Nicaraguan banks connected to SWIFT network. The passive participant’s codes are not included in the list.
|BANCO CENTRAL DE NICARAGUA
BANCO CITIBANK DE NICARAGUA, S.A.
BANCO DE AMERICA CENTRAL
BANCO DE FINANZAS, S.A.(BDF)
BANCO DE LA PRODUCCION S.A.
BANCO LAFISE BANCENTRO, S.A.
BANCO PROCREDIT NICARAGUA
If you have any questions about SWIFT codes contact your bank, or contact Nica Investments.