IIBMRUMM

INTERNATIONAL INVESTMENT BANK, BIC/SWIFT Code Details

Address: MASHA PORYVAEVA STREET 7, MOSCOW 107078 RUSSIAN, FEDERATION

The International Investment Bank (IIB) is a multilateral development bank established in 1970 by the countries of the Council for Mutual Economic Assistance (COMECON). IIB's mission is to support the economic development of its member states, promote their economic cooperation and integration, and foster their transition to market economies. The Bank's headquarters is located in Moscow, Russia. As of January 2019, the IIB has 10 member states: Bulgaria, Cuba, Czech Republic, Hungary, Kazakhstan, Mongolia, Russia, Romania, Slovakia, and Vietnam.

Payment Instructions

General instructions for international payments to banks in RUSSIAN FEDERATION:

Beneficiary Customer (SWIFT MT103 Field 59): Include the beneficiary’s 20-digit account number, full name, address, and individual tax payer number (INN).
Line 1:
Account Number (20 digits)
Line 2-3:
Remitter Name
Line 4:
City, Country
Line 5:
INN Code
If there is only one beneficiary bank (Russian bank) and beneficiary, include the beneficiary customer’s 20-digit account number in this field. If an intermediary is used, the 20-digit account number of the beneficiary bank should be included in SWIFT MT103 F57. First name, family name, and patronymic name must be included. Use of initials can delay receipt of funds by the beneficiary. Companies must include full name as well as legal ownership (e.g. LLC, JSC). INN is the taxpayer’s identification code assigned by the Russian Tax authority. The length of this code varies based on the type of beneficiary. If the beneficiary is an individual, this field is optional and consists of 12 digits. If the beneficiary is a Russian legal entity, this field is mandatory and consists of 10 digits. If the beneficiary is a foreign legal entity, this field is mandatory and consists of 5 digits or 10 digits, depending on whether or not the foreign legal entity conducts business in Russia. If the payment is a tax payment, then the reason code KPP should be included in SWIFT MT103 F59. SWIFT MT103 F70 may be used for the telephone number.
Beneficiary Bank (SWIFT MT103 Field 57): Include the BIK, 20-digit account number, and SWIFT BIC of the beneficiary bank. BIK, formerly known as MFO, is a nine-digit number that the Central Bank of Russia gives to all Russian banks. The last three digits are the same as the correspondent account of the bank with the Central Bank of Russia. The format for the nine-digit BIK and twenty-digit account number should read: /RUXXXXXXXXX XXXXXXXXXXXXXXXXXXXX. If there is an intermediary bank in SWIFT MT103 F56A, make sure F57A includes the 20 digit account number of the beneficiary bank as well as the SWIFT BIC. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxRUxx or xxxxRUxxxxx.
Intermediary Bank (SWIFT MT103 Field 56): If an intermediary is being used, include the bank’s SWIFT BIC in SWIFT MT103 F56A. If the intermediary does not have a SWIFT BIC or if the BIC is not available to you, include the intermediary bank’s BIK, name, and 20-digit account number.
Reason for Payment (SWIFT MT103 Field 70): Purpose of the payment must be clearly identified. The field must start with VO and the numeric code of the transaction. The VO code relates to the payment purpose. This should be followed by the payment details (e.g., contract references). Format: (VOXXXXX). No spaces or special characters allowed between 'VO' and digits. This code may be in any line of field 72 of MT202 or field 70 of MT103. Example: VO60070 FX trade dated 10/20/09 contract ref: AF12123.
For Tax Payments: Include additional fields:

IBAN: At the moment no. Central Bank has recommended banks to start migration to IBAN which will consist of 33 symbols, starts from RU, 2 contol digits, BIC of the bank (national id), number of account.

Correspondent Banks

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

Payment Tracking

To track a SWIFT cross-border payment to or from INTERNATIONAL INVESTMENT 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.