A Standard bank Branch code is needed when you are making an EFT (Electronic Funds Transfer) to a Standard bank account holder.
However, what is this branch code and why is it necessary?
Branch Codes are unique identifiers of financial institutions in the Republic of South Africa. In addition, it tells the area where the branch is located.
Standard bank has various branches across the country and it’s the branch codes that separate one branch from the other. In other words, each branch will have each own unique identifying number which will be referred to as the branch code.
Why is it necessary? It is necessary when doing EFT payments so that bank can pick up which branch the payment should be located to.
How can you find out the Standard Bank branch code for a Standard bank account holder? You can do this by getting it directly from the person you wish to pay. They can simply give you their branch code.
Alternatively, you can call Standard Bank directly on 0860 123 000 and get it from them. For you to get the branch code you need you’ll need to have the branch name.
Another way to get the Standard bank branch code you need is by visiting www.bankbranchcodes.co.za/standard-bank-branch-codes. On this website they have made a directory of the branch codes of all major banks in South Africa.
What is you still can’t find the branch code you need? In this case you should use the universal branch code.
Let’s take a look at what this is.
Standard Bank Universal Branch Code
You can use the Standard Bank universal branch code whenever you are doing an online payment to any Standard Bank account holder.
The Standard Bank universal branch code is 051001.
It is especially ideal in situations when you don’t know the specific branch code for the account holder.
This is very easy to memorise rather than trying to memorise branch codes for several branches.
Also, you might not even have to memorise this universal branch code at all. This is because most banking platforms will automatically pick up the universal branch codes of different banks when you are doing online payments.
Does it make a difference whether you use the branch code or the universal branch code?
Not at all! If you have a branch code you can use that one when doing your payment.
However, if the branch code is not available use the universal branch code. Either way, your payment will go through.
Standard Bank SWIFT Code
The Standard Bank SWIFT code is SBZAZAJJ.
A Society for Worldwide Interbank Financial Telecommunication (SWIFT) code is used to identify a specific bank during an international transaction.
This is not necessary for local payments. It is only needed for international transactions.
Conclusion
The Standard Bank branch code will vary from one branch to the other. It is used when doing online payments.
When you don’t have the branch code, use the universal branch code 051001 to do your online payments. This will not affect your payment in any way as it will still go through.
The Standard Bank SWIFT SBZAZAJJ is only needed for international transactions.
1 Comment
Pingback: Capitec Branch Code | Capitec Universal Branch Code