Simple UBA SWIFT (BIC) code: What is it and Everything You Need to know

What is the SWIFT or BIC code for UBA? Have you been asking this question?

Well, If you are looking for What  exactly is the SWIFT or BIC code for UBA, you will find what you are looking for in this publication.

Key Takeaways

  • Banks use swift codes to communicate with other banks when sending and receiving money across borders.
  • All UBA accounts in Nigeria share the same SWIFT code.
  • SWIFT code is used throughout the world not just your own country.

First and foremost, you must know that United Bank for Africa is a significant financial organization in Nigeria.

It has a market capitalization of over $1 billion USD.

They continually introduce new inventions into their platform to make it better.

Their most recent introduction into the features they already have is Leo.

You must know him already, we’re talking about the guy who gives you the thumbs up 😆  after a successful transaction on their mobile app.

Moving on…

Whenever you want to accept a wire transfer from a foreign account, you will be need to supply a certain code, in this case it is called the SWIFT code.

Which is also known as SWIFT BIC in some other instances.

Something to keep in mind is that, all Banks utilize these SWIFT BIC codes to communicate with one another when sending and receiving money across a country’s border.

So what exactly is this SWIFT code?

What is UBA SWIFT

SWIFT is an abbreviation that stands for the “Society for Worldwide Interbank Financial Telecommunications“.

Wikipedia describes this SWIFT as follows:

“A network that allows financial institutions globally to exchange and receive information about financial transactions in a safe, standardized and dependable environment.”

The SWIFT code provides software and services to financial institutions, with the majority of its products intended for use on the SWIFT network and the ISO 9362 standard.

What does the BIC stand for?

The “BIC” formerly known as “Bank Identifier Codes”, are more commonly referred to as “SWIFT codes.

Now that we’ve know what the SWIFT code and BIC stands for, lets go over the roles that they play.

what role does the SWIFT code/BIC play in all of this?

What is a SWIFT Code/BIC?

A SWIFT code is a standard format for Business Identifier Codes that is used throughout the world (BIC).

The basic role of a BIC or SWIFT code is to distinguish between banks and financial organizations all over the world.

In our case,

The UBA Swift code/BIC identifies who a particular person is and where he/she is located in the world, in other to send the funds/money.

You can say, it’s more like a sort of international bank code or identification number.

UBA SWIFT CODE (SWIFT BIC)

UBA CardYou now have a basic understanding of what UBA SWIFT code and BIC is all about, so we are free to reveal it to you.

Something you should note is that, all UBA accounts in Nigeria share the same SWIFT code, no matter where they were registered.

Regardless of where you created an account, UBA has a single code for all of its branches.

UNAFNGLA is the UBA SWIFT code.

Additionally, keep in mind:

UBA SWIFT BIC code

  • Bank Name/Institution: United Bank for Africa Plc
  • Headquarters Address: UBA House, Floor 8, 57 Marina, Victoria Island, Lagos
  • UBA SWIFT BIC/SWIFT code: UNAFNGLA
  • Country: Nigeria

Quick Recap

A SWIFT code is a global standard for Business Identifier Codes (BIC).

It is used globally to distinguish between banks and financial institutions.

The UBA Swift code/BIC identifies a person and their location.

It’s more like an international bank code or ID number.

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