What are the Bank of India SWIFT Codes?

The Bank of India (BOI) SWIFT code is a distinct 8-11 alphanumeric identifier that directs international wire transfers securely. It ensures that funds are being sent to the correct bank account globally, facilitates cross-border trade payments, and handles foreign currency transaction processing. The SWIFT Code for Bank of India is 'BKIDINBBXXX'. It includes the bank code 'BKID', the country code 'IN', the location code 'BB', and the branch code 'XXX'.

Each BOI bank branch has a unique SWIFT code, so you must verify the correct SWIFT code to ensure funds are being sent to the correct bank account and avoid transaction delays or reversals. You can find the relevant SWIFT code by confirming with the recipient, contacting the branch directly, visiting the bank's official website, checking the bank statement, or using an online SWIFT code finder tool. Keep reading further to know more about Bank of India SWIFT codes. 

What are the Bank of India SWIFT Codes?

Banks globally use the SWIFT code for Bank of India to transfer funds securely and accurately. It helps verify the bank's identity, ensuring funds are being routed to the corrected BOI account, preventing any risk of error, delay, or fund loss. It is primarily used for SEPA payments or international fund transfers. 

Additionally, this code also enables banks to send and receive messages from other branches or banks. The primary SWIFT code of BOI is 'BKIDINBBXXX'. This code represents the bank's head office in Mumbai and is often used when a specific branch code is not available/required. 

Structure and Format of Bank of India SWIFT Code

The BOI SWIFT Code comprises 8-11 characters; each character signifies something. The standard format of a BOI SWIFT Code is 'BKIDINBBXXX'. Here is a breakdown of the SWIFT code of Bank of India:

• Bank Code (BKID): The 4 four characters of the SWIFT code indicate the bank code in abbreviated form. 
• Country Code (IN, India): The following 2 characters denote the country code in which the bank is present. 
• Location Code (BB): The next 2 letters represent the location code. 
• Branch Code (XXX): The last 3 characters indicate the branch code, specifying a particular branch of the bank. 

List of Bank of India SWIFT Codes 

Importance of the SWIFT Code of the Bank of India

Here are some reasons why the SWIFT code for Bank of India is important:

• The SWIFT code helps ensure that funds are being sent to the right account by identifying the respective Bank of India branch involved in the transaction. 
• It prevents the risk of transaction rejection, processing delays, or significant fund loss due to funds being routed to the wrong recipient. 
• It ensures secure cross-border transactions and ensures easy foreign currency transaction processing. 

Is the SWIFT Code the Same for All Branches of Bank of India?

No, each Bank of India has a unique SWIFT code that distinguishes it from others to avoid confusion during fund transfers. You must verify the correct SWIFT code with the recipient or the bank's branch directly before initiating the transaction. 

How to Find the Bank of India SWIFT Code?

You can find the SWIFT code for Bank of India by following any of the options below:

• Check your bank statement. 
• Visit the BOI's official website
• Use an online SWIFT/BIC search tool. 
• Contact the bank's customer service. 

Bottom Line 

BOI SWIFT Code comprises 8-11 characters used to ensure secure and accurate routing of international fund transfers. The general BOI SWIFT code is 'BKIDINBBXXX', representing the bank code (BKID), country code (IN), location code (BB), and branch code (XXX). Different Bank of India branches have unique SWIFT codes, so you must confirm the accurate and specific code with the recipient or branch before initiating the transaction.

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