SWIFT Codes of Major Banks in Albania

Navigating International Transfers: A Guide to SWIFT Codes of Major Banks in Albania

If you’re living in Albania, working with an Albanian company, or planning to send money to family and friends, you’ll inevitably encounter the international banking system. The single most important piece of information you’ll need for a successful international wire transfer is a SWIFT code.

But what is it, and how do you find the right one? This guide will break down everything you need to know about the SWIFT codes for Albania’s major banks, ensuring your money gets where it needs to go without any costly delays.

What Exactly Is a SWIFT/BIC Code?

Think of a SWIFT code as an international address for a bank.

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. This code, also known as a BIC (Bank Identifier Code), is a standard format used to identify banks and financial institutions globally. It tells other banks exactly where to send the money.

A SWIFT code is typically 8 or 11 characters long:

• First 4 characters: Bank code (e.g., NCBA for BKT)
• Next 2 characters: Country code (e.g., AL for Albania)
• Next 2 characters: Location/City code (e.g., TR for Tirana)
• Last 3 characters (optional): Branch code (e.g., ‘XXX’ often signifies the head office)

Using the correct code is critical. A wrong code can lead to rejected transfers, long delays, or even extra fees as the banks work to correct the error.

SWIFT Codes for Major Albanian Banks

Here is a comprehensive list of the SWIFT/BIC codes for the most prominent banks operating in Albania. These are the codes you will most likely need for your transactions.

Note: While these codes are gathered from authoritative sources, you should always confirm with the recipient or the bank directly before initiating a transfer.

Banka Kombëtare Tregtare (BKT)

As one of the largest and most widespread banks in Albania, BKT is a frequent destination for international transfers.

Raiffeisen Bank Albania

A major player in the Albanian banking sector, Raiffeisen is part of the large Austrian banking group.

Credins Bank

Credins is a leading private bank in Albania with a significant branch network across the country.

Intesa Sanpaolo Bank Albania

Part of the well-known Italian banking group, Intesa Sanpaolo has a strong presence in Albania.

OTP Bank Albania

Following its acquisition of Alpha Bank Albania, OTP Group (a major Hungarian bank) is a significant institution in the market.

Tirana Bank

As the first privately-owned bank in post-communist Albania, Tirana Bank is a familiar name in the country’s financial landscape.

American Bank of Investments (ABI)

Known for its focus on business and corporate clients, ABI is another key bank for international dealings.

Union Bank

A private Albanian bank, Union Bank offers a full range of services and is integrated with the international payment system.

The Golden Rule: Always Verify Your Code

This list is a powerful resource, but bank information can change. Mergers, system updates, or specific branch requirements can alter details. Before committing to a transfer, always double-check the SWIFT code.

Here’s how you can be 100% sure:

1. Ask the Recipient: The easiest way. Ask the person or company you are paying to provide their full bank details, including the bank’s name, address, their account number (IBAN), and the correct SWIFT/BIC code.
2. Check Your Bank Statement: Your paper or digital bank statements often list your bank’s SWIFT code.
3. Log in to Online Banking: Most banking apps or websites have a “details” or “information” section for your account that lists the SWIFT code.
4. Call the Bank Directly: A quick call to the bank’s customer service (either your bank or the recipient’s) is a foolproof way to get the correct information.

Frequently Asked Questions (FAQ)

Is a SWIFT code the same as an IBAN?

No, they are different but work together.

• The SWIFT code identifies the correct bank. (Like the city and zip code of a specific post office).
• The IBAN (International Bank Account Number) identifies your specific personal account within that bank. (Like your exact street address and apartment number).

You need both for a successful international transfer to Albania.

What does the ‘XXX’ at the end of a SWIFT code mean?

When you see a code ending in ‘XXX’ (like NCBAALTXXX), or an 8-character code (like NCBAALTX), it simply refers to the bank’s head office or primary branch. For most transfers, this is the correct code to use. If you are given an 11-character code with different letters at the end, it is directing the funds to a specific branch of that bank.

What happens if I use the wrong SWIFT code?

Using an incorrect SWIFT code can cause several problems:

• The transfer may be rejected: The sending bank’s system may not recognize the code, stopping the transfer before it starts.
• The transfer will be delayed: The money may go to an intermediary bank that then has to manually figure out the correct destination, which can take days or even weeks.
• Extra fees may be charged: Banks charge fees for their time to amend, trace, or return a failed transfer.

Always take the extra minute to verify the code. It will save you time, money, and a significant headache!