In this piece you will be informed on what sort code and swift code are. You will learn how to decode the code so that you can understand what they really stands for when you see one. Take your time to read through carefully. Happy reading!
The Sort Code
The sort code is a number used to identify a bank and its particular branch where an account is held. Every bank account is attached to a particular bank branch usually where the account is opened. With the sort code, the name of the bank as well as the branch will be identified.
Sort Code Analysis
The sort code is a nine (9) digit number and the digits have their meanings. It can be analysed as below;
- The first three (3) digits stand for the bank’s standard code.
- The next digit identifies the location of the bank
- The last five (5) digits identifies the branch of the bank.
With these analysis, you have a full knowledge of the sort code make up.
First Bank Sort Code
The first bank sort code is therefore a number which identify the first bank and its location. The sort code is used when transferring funds from one bank branch to another or between two different banks. When doing an international transaction, it is often required so that your money can have a safe landing. It might be worthwhile to know at least your first bank branch sort code.
The Swift Code
The swift code is used to identify banks. It is a standard way distinguishing banks with codes. Its an eight (8) or eleven (11) digits code use to show bank, country and location. This is often used in banking communication (inter and intra communications) and transactions. Every bank has its unique swift code.
The Swift Code Analysis
The swift code digits can be further broken down and explained as follows;
- The first four (4) characters which are letters only is bank code
- The next two (2) characters which are letters only is country code
- The following two (2) characters which is a letter and digit each is location code
- The last three (3) characters which is a combination of letters and digits is the branch code.
Guaranty Trust Bank swift code
The Guaranty Trust Bank (GTBank) swift code is the standard way of identifying any country, branch and location of any Guaranty Trust Bank. For instance, here are two swift codes of Guaranty Trust Bank in Lagos; GTBINGLA and GTBINGLAIFP. These two swift codes are for different branches. The first is for 635 AKIN ADESOLA STREET, VICTORIA ISLAND while the later is for GUARANTY TRUST BANK, INFO POOL BRANCH, LAGOS. Try to know at least your GTBank branch swift code.
If you need your first bank branch sort code or Guaranty Trust Bank branch swift code, you may check it on the bank website or simply visit the branch close by and help yourself at the customer service desk.