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Payment Instructions

General instructions for international payments to banks in IRAQ:

• Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g., SWIFT BIC, IBAN, and beneficiary bank address).
• Payment Restrictions: Individual to individual (P2P) payments are not permitted.
• Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Include account number (IBAN), full name (no initials), and address of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary.
• Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier/code (where required), full name of bank branch, and address of the beneficiary bank (SWIFT BIC is 8 or 11 alphanumeric characters: xxxxIQxx or xxxxIQxxxxx).
• Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended.
• Additional Information: Payments below 10,000 IQD are not supported. If a transaction is submitted below this amount, it will be canceled.

IBAN: In Iraq, the IBAN consists of 23 characters. The country code is 'IQ' followed by a two-digit check number, a four-digit bank identifier, a three-digit branch code, and a twelve-digit account number. Example electronic format: IQ98NBIQ850123456789012. Print format: IQ98 NBIQ 8501 2345 6789 012.

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of STANDARD CHARTERED BANK for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from STANDARD CHARTERED BANK, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Related SWIFT-codes

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.