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Deutsche Bank is an international bank, with its head office in Frankfurt, Germany. The SWIFT code for its primary office is DEUTDEFF: DEUT identifies Deutsche Bank; DE is the country code for Germany; FF is the code for Frankfurt; Deutsche Bank uses an extended code of 11 characters and has assigned branches or processing areas individual ...
SWIFT provides the main messaging network through which international payments are initiated. [2] It also sells software and services to financial institutions, mostly for use on its proprietary "SWIFTNet", and assigns ISO 9362 Business Identifier Codes (BICs), popularly known as "Swift codes".
A bank’s SWIFT code is an eight- or 11-digit code with four components: Bank code: Four letters that represent an abbreviated version of the financial institution’s name
For international wire transfers, additional information may be required, such as the recipient’s full name, physical address, bank name and address, bank account number and type, bank routing number, and the bank's SWIFT or IBAN code. The fees and processing times can vary depending on the service provider and the destination country.
For example, if Bank of America is to pay American Express $1.2 million, and American Express is to pay Bank of America $800,000, the CHIPS system aggregates this to a single payment of $400,000 from Bank of America to American Express. The Fedwire system would require two separate payments for the full amounts ($1.2 million to American Express ...
The Extended Industry Sorting Code Directory (EISCD) is based upon the ISCD and was introduced to provide reference data to support the UK's Faster Payments service. The EISCD contains all data elements found within the ISCD, with the addition of a new section containing Faster Payments clearing information for each UK bank branch.
Also the name of bank codes varies. In some countries the bank codes can be viewed over the internet, but mostly in the local language. The (national) bank codes differ from the international Bank Identifier Code (BIC/ISO 9362, a normalized code - also known as Business Identifier Code, Bank International Code and SWIFT code).
SWIFT cooperates with international organizations to define standards for message format and content. CIPS also subscribes to registration authority (RA) for the following ISO standards: [10] ISO 9362: 1994 Banking—Banking telecommunication messages—Bank identifier codes