SWIFT Code of MGSI in INDIA
SWIFT Code MGSI can be used in transferring money overseas. Swift codes of MGSI INDIA are provided by International Organization for Standardization (ISO). Swift Code identifies MGSI branches which participate in Overseas fund transfers. Swiftcode MGSI is a unique code for each branch.
Use of SWIFT Code MGSI INDIA
SWIFT Codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. The codes can sometimes be found on account statements. To do Overseas funds transfer the SWIFT Code MGSI is required. List of MGSI SWIFT Codes provided are Branches respectively.
What MGSI is SWIFT CODE?
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) (also known as ISO 9362, SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Business Identifier Codes approved by the International Organization for Standardization (ISO). It is a unique identification code for both financial and non-financial institutions. (When assigned to a non-financial institution, a code may also be known as a Business Entity Identifier or BEI.) These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. The codes can sometimes be found on account statements. SWIFT and BIC codes are basically the same.
The SWIFT code is 8 or 11 characters,
Example: MGSIINB1XXX
- MGSI 4 letters: Institution Code or bank code.
- IN 2 letters: ISO 3166-1 alpha-2 country code
- B1 2 letters or digits: location code
- If the second character is "0", then it is typically a test BIC as opposed to a BIC used on the live network.
- If the second character is "1", then it denotes a passive participant in the SWIFT network
- If the second character is "2", then it typically indicates a reverse billing BIC, where the recipient pays for the message as opposed to the more usual mode whereby the sender pays for the message.
- XXX 3 letters or digits: branch code
Where an 8-digit code is given, it may be assumed that it refers to the primary office.
SWIFT Code For MGSI in INDIA
SWIFT Code MGSI used to Transfer fund to International banks. SWIFTCode MGSI are provide the broadest coverage of national bank identifiers. SWIFT Code is identifying MGSI Country branches. SWIFT Code MGSI is unique for each branch.
