In a nutshell the SWIFT code is a unique bank code used for all interbank messaging.
The SWIFT code for its primary office is NEDSZAJJ:
NEDS identifies Nedbank
ZA is the country code for South Africa
JJ is the code for Johannesburg
Nedbank has not implemented the extended code of 11 digits and all SWIFT transfers to its accounts are directed to the primary office for processing. The IBAN validator will also decode and identify the country, bank and branch routing details, and bank account number of any valid IBAN. The overlapping issue between ISO 9362 and ISO 13616 is discussed in the article International Bank Account Number (also called IBAN).
Both of these will accept and validate AII records in their live production environments but these transaction reports will not be sent to the FSA but will instead be deleted by the ARM.
Main Aims of BIC2
The stated aims behind BIC2 can be summarised as follows:
Removal of UK bias
The BIC scheme was originally conceived as a subject classification system for the UK book trade, which led to certain subjects being given an inflated degree of detail or prominence (eg English Law) or being taken out of objectively correct hierarchical sequence (eg British history).
| Country | City | Bank Name | Branch | SWIFT |
|---|---|---|---|---|
| Spain | Madrid | ABN Amro S A S V B | ABN Amro S A S V B | ABAMESM1XXX |