How do I set up a SWIFT payment to a NoFrixion account?
For all incoming SWIFT payments to a NoFrixion account, regardless of currency, the payment instruction should be set up as follows:
| 56A, C or D | Intermediary (bank) | :56A:BCIRLULL |
|---|---|---|
| 57A, B, C or D | Account with institution (beneficiary's bank) | :57A:NFXNIE22 |
| 59 or 59A | Beneficiary | :59:/IBAN |
| 57A, B, C or D | Account with institution (beneficiary's bank) | :57A:NFXNIE22 |
|---|---|---|
| 59 or 59A | Beneficiary | :59:/IBAN |
- Correspondent Bank: Banking Circle SA
- Correspondent BIC: BCIRLULL or BCIRLULLXXX
- Beneficiary Bank: NoFrixion Limited
- Beneficiary BIC: NFXNIE22 or NFXNIE22XXX
- Account Name: [payment account name]
- IBAN: [IBAN]
This structure applies to all supported currencies, including AED, AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SAR, SEK, SGD, TRY, USD, ZAR.
Does the correspondent BIC change depending on the currency?
No. For all incoming SWIFT payments to NoFrixion accounts, the correspondent bank is always Banking Circle SA (BCIRLULLXXX), regardless of the currency being sent. You do not need to use a currency-specific or country-specific correspondent BIC.
I've been told the BIC should match the currency's country. Is that correct?
No. A correspondent bank does not need to be located in the country of the currency being sent. Large international banks routinely handle multiple currencies by maintaining relationships with local clearing banks in those countries. The BCIRLULL BIC is correct for all currencies supported by NoFrixion.