Swift code is sometimes refer to as Bank Identifier Code (BIC). It is often been asked during international transaction most especially to receive and send funds outside a country. Below is gtbank swift code and how it was arrived at.
Before that, you need to understand that swift code is totally different from sort codes. And am not talking about the fact that sort code is numeric combination while swift code is a combination of letters and sometimes number.
Sort codes are basically often used locally either internally by a bank to communicate with different branches or for transaction between two different banks entirely but in the same country.
Must Read:Gtbank Sort Code.
Each branch of a bank has their own sort code but only the headquarter of a bank in a country is assigned a swift code in most cases. So gtb swift code in Nigeria is the BIC of gtbank headquarter in Lagos.
Gtbank Swift Code Explained.
This code; BIC is managed by an organization called SWIFT (Society for Worldwide Interbank Financial Telecommunication). It is 8 character long.
I previously wrote an article on zenith bank swift code which also contains other Nigerian banks swift codes.
- First 4 characters of swift code is the bank’s code. Which is GTBI for Gtbank.
- Next 2 letters represents the country’s code. Which is NG for Nigeria.
- The last 2 characters is the location code. LA for Lagos. Where the headquarter of gtb is.
Combining the above codes (GTBI NG LA) together, you have GTBINGLA. So when next you want to receive payment into your gtbank account and you were asked for swift code, remember this.
There you have it on guaranty trust bank swift code. Kindly share this article using the social sharing buttons below and educate people while doing so.