If you are reading this, it is perceived that you are one of the many Nigerians who use Fidelity bank and you have been asked to provide your swift code. Well, you can find that below.
Fidelity bank is a very popular commercial bank in Nigeria. Founded in 1988, the bank is fully licensed by the Central Bank of Nigeria (CBN) to carry out banking and other financial related services in the country. Currently, the bank has at least one branch in every state in the federation with a total of 240 branches and millions of Nigerians bank with Fidelity.
Fidelity Bank Swift Code 2020
The Swift code for Fidelity Bank is FIDTNGLA, it is a code with 8 letters formed from the combination of different codes.
This code can be separated into 3 parts which are FIDT-NG-LA; this will help you understand how the code was formed so you can be able to arrange it yourself if you happen to forget it.
The first four letters – FIDT – is the Fidelity bank code and the letters are short for Fidelity. The next two letters – NG – is the country code of Nigeria, the code is used because Fidelity bank is a commercial bank in Nigeria. The last two digits – LA – is the city code of Lagos, it is used because the head office of Fidelity bank is located in Lagos at No. 2 Kofo Abayomi Street, Victoria Island.
No matter your bank branch, you can use the Swift code above as it is that of Fidelity bank headquarters which covers all Fidelity branches in Nigeria. If needed, you can add your bank branch code at the end of the code, you can get this by making enquiries at your bank.
What Swift Codes are Used For
Swift codes are very important when it comes to banking, they are used not just in Nigeria alone but in other countries of the world. These codes are just like an identity code as they are used to identify a particular bank or bank branch, they are sometimes referred to as Bank Identifier codes (BIC).
The code is always unique that is why you cannot find two banks with the same Swift code. Swift codes are used mainly in money transfers, in Nigeria they are used mainly for international wire transfers. You will be asked to provide the Swift code of your bank if you are to receive a payment from outside Nigeria.
Usually, Swift codes are 8 digits and they consist of the bank code, country code and the city code of the bank’s head quarters. They become 11 digits in number when the bank branch code (3 digits) is added and it is always optional because the code for the head quarters cover all other branches of the bank.
Swift codes are not used in transferring money alone, they are also used by banks to send messages between one another. The Swift codes were arranged by the Society for Worldwide Interbank Financial Telecommunication which is actually where the SWIFT came from.
After reading the above information, I am sure you now know what the Swift code for Fidelity bank is, its functions and also how it was formed.