Polaris bank was founded in 2018 when it was given a banking license by the Central Bank of Nigeria (CBN) and took over from Skye bank. If you are a Polaris bank customer and you were asked to provide the SWIFT code of your bank, you are on the right page as you would find it below.
Polaris Bank SWIFT Code 2020
The code PRDTNGLA is the SWIFT code of Polaris bank.
It is an 8 digit code formed by adding the Polaris bank code (PRDT), the country code of Nigeria (NG) and the location code of Lagos (LA). The location is Lagos because that is where Polaris bank headquarters is located.
Though the code covers all Polaris bank branches in Nigeria, you might be asked to provide the sort code of your branch in particular. In such a scenario, simply add the 3 digits of your bank branch code to the 8 digits and you’re good.
What is a SWIFT code
If you are coming across the words SWIFT code for the first time, it implies that you may have not been engaged in an international money transfer or payment before.
Simply put, a SWIFT code is a code used to identify a bank where a bank account is registered to. The SWIFT code of Polaris bank for example, is a code that identifies that an account is registered with Polaris bank.
The codes are used for money transfer, it might not be very necessary for local money transfer but it is highly important for international money transfers. If money is to be paid into your Nigerian bank account from outside the country, your SWIFT code must be provided for the money to ensure that the money gets to the correct bank.
In Nigeria, bank SWIFT codes can be 8 or 12 digits in number and they are formed by combining different codes. For an 8 digits SWIFT code, the bank code, country code and location code is combined while for an 11 digit SWIFT code, the bank branch code is added.
How to Know your Bank’s Swift Code
Aside from searching online as you just did, how else can you find the SWIFT code of your bank? Well, it is not so difficult as you can simply walk into your bank branch and request for it. Even without going in person, you can mail or place a call to the customer care service of your bank and make your request and it will be granted.
Also, if you have been issued a bank statement in the past (hard or soft copy), check through it and you are sure to find the SWIFT code amongst other information of your bank:
Now you know what the SWIFT code of Polaris bank is you can send it to whoever requested for it. It is would also be good if you can form the code yourself, that way you won’t have trouble remembering it if you forget it.