BBKUKWKW

Payment Instructions

General instructions for international payments to banks in KUWAIT:

• Ensure all required bank information is obtained from the Beneficiary, such as SWIFT BIC, IBAN, and beneficiary bank address.
• Non-residents can hold both local and foreign currency accounts in Kuwait.
• There are no foreign exchange controls in Kuwait.
• For Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address. Initials can delay funds receipt.
• For Beneficiary Customer (SWIFT MT103 F59): Include account number, full name (no initials), and address. Initials may delay fund receipt.
• Beneficiary IBAN must be included in the payment instructions.
• Include SWIFT BIC with branch identifier, full name, and address of the beneficiary bank.
• No bank clearing codes in Kuwait for cross-border payments; SWIFT BIC is crucial for routing payments.
• Provide the purpose of payment as recommended (SWIFT MT103 F70).
• Note that markets are closed on Fridays in Kuwait.

IBAN: In Kuwait, the IBAN consists of 30 characters. It starts with the country code 'KW,' followed by a 2-digit checksum, a 4-letter bank code, and a 22-digit domestic account number. Example of electronic format: KW98ABCD7654321987651234567891 and print format: KW98 ABCD 7654 3219 8765 1234 5678 91.

Correspondent Banks

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

Payment Tracking

To track a SWIFT cross-border payment to or from BBK, 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.