BARCSCSC

Payment Instructions

General instructions for international payments to banks in SEYCHELLES:

Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, account number, and beneficiary bank address).

Central Bank: For additional information, please refer to www.cbs.sc.

Payment instructions are required 48 hours before the value date.

Payment Formatting Rules for SCR:

• 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, full name, and address of the exact location of the beneficiary bank.
• Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended.

SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSCxx or xxxxSCxxxxx. The exact location of the branch must be provided to avoid payment delays.

IBAN: Effective October 2016, Seychelles requires an IBAN for SCR accounts. The IBAN structure in Seychelles is SC2!n4a!2n!2n!16n!3a!, consisting of 27 characters. For example, electronic format: SC12SSCB98761234567891234567USD, print format: SC12 SSCB9876 1234 5678 9123 4567 USD.

Correspondent Banks

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

Payment Tracking

To track a SWIFT cross-border payment to or from ABSA BANK (SEYCHELLES) LIMITED, 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.