In order to send a SWIFT payment to BOSNIA AND HERZEGOVINA it is highly recommended to meet the following recommendations:
Information provided by the Beneficiary: Remitter should obtain all required bank information from the beneficiary such as SWIFT BIC, IBAN, and beneficiary bank address. For additional details, please refer to the Central Bank at www.cbbh.ba.
Payment Formatting Rules for BAM:
SWIFT BIC: The SWIFT BIC should include the branch identifier if required. It is composed of 8 or 11 alphanumeric characters, formatted as xxxxBAxx or xxxxBAxxxxx.
If the final beneficiary is a government organization, include the budget organization code, 6-digit profit type, and 3-digit citation number (municipality). This information may also be provided in SWIFT MT103 F70. Including the beneficiary’s telephone number can help avoid payment delays or returns.
Reason for Payment (SWIFT MT103 F70): The purpose of payment is recommended.
Note that BAM is settled as a EUR transfer, allowing the beneficiary to choose to withdraw in BAM or EUR.
For the following financial institutions in BOSNIA AND HERZEGOVINA you can find a list of their correspondent banks with the currencies and nostro accounts. Also you will find an instructions how to track the payments and other useful information which will help you to send/receive a SWIFT funds transfer or investigate a status of existing payment.