XNAMNAN1

Payment Instructions

General instructions for international payments to banks in NAMIBIA:

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). For additional information, please refer to Central Bank of Namibia.

Payment Formatting Rules for NAD:

• 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 (8-13 digit only account number required), 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 (where required), full name, and address of the beneficiary bank. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNAxx or xxxxNAxxxxx.
• Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended. For tax payments to 'The Receiver of Revenue', the remitter will need to provide their tax number (TIN) as per their tax certificate. The tax number must be provided in the payment instructions in field 70 along with the purpose of the tax description (e.g., income tax, VAT, Withholding Tax, Stamp Duty, etc.). The prefix ‘TIN’, ‘Tax’ or ‘Tax ID’ must be included before the tax number.
• Additional Information: Local regulatory reporting applies to all foreign currency payments.

IBAN: No

Correspondent Banks

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

Payment Tracking

To track a SWIFT cross-border payment to or from NAMIBIAN STOCK EXCHANGE, 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.