UTBSSLFR

Payment Instructions

General instructions for international payments to banks in SIERRA LEONE:

Overview

Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, account number, and beneficiary bank address). For additional information, please refer to the Central Bank of Sierra Leone at www.bsl.gov.sl.

Country Requirements/Restrictions

• Direct investment abroad by residents is prohibited.
• Foreign exchange and capital transactions have some restrictions and certain approval requirements.
• Residents and non-residents may hold foreign exchange accounts, subject to some restrictions.

Payment Formatting Rules for Sierra Leone

• 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, 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, full name, and address of the exact location of the beneficiary bank. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSLxx or xxxxSLxxxxx. The exact location of the branch must be provided to avoid payment delays.
• Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended.

Additional Information

• The transition from SLL to the new currency code SLE is complete. Trades submitted with currency code SLL will be rejected. Please use SLE as the currency code.
• SLE is only available as a wire payment currency from United States-based accounts. SLE is currently not available as a payment currency from all other branches.
• Ensure that the code used within the payment instructions is the same as the code used to book the transaction.

IBAN: No

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of UNION TRUST BANK LIMITED for each currency.

Payment Tracking

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

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.