JOOL MARKETS AS, BIC/SWIFT Code Details
Address: GRUNDINGEN 2 OSLO 0250 NORWAY
General instructions for international payments to banks in NORWAY:
Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g., SWIFT BIC, IBAN, and beneficiary bank address).
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNOxx or xxxxNOxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended. For category 2 message types with a Norwegian bank in Field 57A and information in Field 72, the receiving bank will process the payment as a straight-through without considering the Field 72 information. Shared charges may be applied for payments in the EEA, subject to PSD2 regulations. This may result in deductions to the amount received by the beneficiary.
Central Bank: For additional information, please refer to www.norges-bank.no.
Country Requirements/Restrictions: Norway is adopting the payment practices of the European Union (EU), although it has not adopted the Euro. Residents and non-residents are permitted to open and maintain domestic or foreign currency accounts either locally or abroad. However, residents cannot convert their domestic currency into foreign currency.
SEPA: Strict formatting standards and SEPA guidelines exist in Europe regarding cross-border payments. IBAN and SWIFT BIC are required for all euro payments. SEPA standards apply for euro payments to beneficiaries with accounts in Norway but do not apply to Norwegian krone payments.
Payment Formatting Rules for NOK:
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.
Use of IBAN numbers is highly recommended. IBAN is required for all EUR payments subject to SEPA standards.
IBAN: Yes
Standard Settlement Instructions (SSI) contain the list of correspondent banks of JOOL MARKETS AS for each currency.
To track a SWIFT cross-border payment to or from JOOL MARKETS AS, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.
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.