Zenith Bank Bic Code

Advertisements

What is SWIFT?

Advertisements

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications. It is a messaging network that financial institutions use to securely transmit information and instructions through a standardized system of codes either between themselves or between them and their corporate customers who are registered on SWIFT.

Zenith Bank has been a member of SWIFT network since June 1998.

Advertisements

ZENITH BANK OFFSHORE TRANSFER DETAILS

USD
*INTERMEDIARY BANK DETAILS:*
CITIBANK N.A. LONDON
SWIFT CODE:	CITIGB2L
IBAN NO:	GB80CITI18500810407941
*BENEFICIARY’S BANK DETAILS*
ZENITH BANK PLC
SWIFTCODE:	ZEIBNGLA
AMOUNT:
ORDERING PARTY:
BENEFICIARY’S NAME:
BENEFICIARY ACCOUNT NO:
PURPOSE:

EUR
*INTERMEDIARY BANK DETAILS:*
CITIBANK N.A. LONDON
SWIFT CODE:	CITIGB2L
IBAN NO:	GB87CITI18500808663076
*BENEFICIARY’S BANK DETAILS*
ZENITH BANK PLC
SWIFTCODE:	ZEIBNGLA
AMOUNT:
ORDERING PARTY:
BENEFICIARY’S NAME:
BENEFICIARY ACCOUNT NO:
PURPOSE:

GBP
*INTERMEDIARY BANK DETAILS:*
CITIBANK N.A. LONDON
SWIFT CODE:	CITIGB2L
IBAN NO:	GB22CITI18500805527945
*BENEFICIARY’S BANK DETAILS*
ZENITH BANK PLC
SWIFTCODE:	ZEIBNGLA
AMOUNT:
ORDERING PARTY:
BENEFICIARY’S NAME:
BENEFICIARY ACCOUNT NO:
PURPOSE:

FileAct Service

FileAct enables financial institutions to exchange bulk payment files securely and reliably. This consist of two files: the PayLoad file (Pain001- Customer Credit Transfer Initiation) and the Response File (Pain002 – Customer Payment Status Report). Zenith bank supports the ISO 20022 XML message format for these files.

FileAct is particularly suitable for corporate customers who will be making bulk payments to several beneficiaries. When you need a secure, reliable and efficient way to transfer large files of data, FileAct is the solution. FileAct is a SWIFT service for transferring large files of structured messages. It’s also the messaging service to choose for large-scale reporting tasks. Files of almost any format or size may be sent, up to hundreds of MB. FileAct provides the security and reliability your business demands, including the highest availability in the industry. FileAct also offers non-repudiation; on request, SWIFT will re-verify a file signature to prove its origin. The diagram below illustrates the transfer of the Payload pain001 file (File Transfer) from the corporate customer to Zenith Bank and the response Pain002 file (ACK) from Zenith bank to the corporate customer.

REQUIREMENTS / FEATURES

The following are the requirements and features for using the SWIFT FIN service option for payments:

Corporate customer is expected to be registered on SWIFT with a unique SWIFT ID as well as be a member of SCORE (Standardized Corporate Environment) with a Requestor DN and Responder DN which are distinguished names assigned to it by SWIFT for this service.

The Corporate customer and Zenith bank will sign a SCORE AGREEMENT which is a physical document. SWIFT has registered and published the accession of Signatories to the Service Level Master Agreement (“SLMA”) for any two parties who are at the verge of using this service.

Having met the pre-requisites above, the Corporate can generate Pain001 payment file from its ERP and send same to Zenith bank via the SWIFT network. The Pain001 file is delivered by SWIFT to Zenith bank for validation. Zenith Bank sends a file-level Pain002 response message with an ACTC (Accepted Technical Validation) response if the Pain001 payment file is successfully validated or a RJCT (Rejected) response if otherwise.

Zenith bank executes the payment instructions contained in the file after which a transaction-level pain002 response message is sent to the corporate customer via SWIFT.

Having executed the payments, Zenith bank will deliver the customer’s statement of accounts to the corporate customer’s ERP via the SWIFT FIN service in SWIFT MT940 statement format. Most ERP’s will use this MT940 to achieve auto-reconciliation of all payments made on this platform.

Advertisements