Branch Codes For South African Banks

Transferring money between various banks in South Africa can be somewhat annoying and frustrating at times, loading a new beneficiary is not the most straight forward process and we're often on our nerves about making sure account numbers and branch codes are correct before sending off a payment.

Having made a number of payments over the years It can be frustrating at times to find which is the correct South African bank branch codes to use. Banks are starting to realise how much of an inconvenience this is for their customers and are starting to opt for universal banking codes in certain cases. 

Absa and Capitec use a universal branch code while FNB, Nedbank and Standard Bank use specific codes for each branch.

Branch Codes vs Universal Branch Codes

In South Africa we can choose from banking institutions that either have universal branch codes or banks that have individual codes for every branch. If you prefer a bank that is user-friendly offering a universal code for all the branches, you will soon discover there are many to choose from.

Why Branch Codes in SA?

Why do we need branch codes and which banks in South Africa use individual branch codes and which ones don’t?

For those of you who bank at Absa and Capitec Bank for example, both have have Universal Branch Codes which is perhaps one of the most user-friendly options as far as banking is concerned, whereas other financial institutions don’t make use of this universal branch code option.

If you, like so many individuals are often at a loss as to what your branch code is, universal codes could make life a lot easier;this is particularly useful when it comes to internet banking.

Why the need for South African Bank branch codes at all?

A bank code is one that has been given to a central bank by the Banking Association of a particular country by its licensed banking institutions. As with all banking rules and regulations, banking differs vastly from one country to the next as do all the codes, and can be found online for ease of access.

South African Universal Banking Branch Codes

Note: If you plan on transferring money from an overseas or forex account you may need to use a South African bank SWIFT code.

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Tags: Money, Banking