Codes are something that we can relate a bank to. It turns out that bank has their own code that is set as something that identifies them. Singaporean banks also have their own codes as well.
As banks in other countries have, Singaporean banks have their own bank and branch code. If you are an OCBC account owner, find out how to check OCBC branch code, where to find it, and why these codes matter in this article below.
How to Check Branch Code of OCBC
The number of bank code of OCBC Singapore is just one, unlike the branch code. For Singaporean OCBC, it turns out that the branch code ranges from 501 to 802. Each OCBC branch has its own number which differ one from another.
Actually, even without trying to find it online, you can know the code for OCBC branch. Grab your bank book or open your banking app. You will find out your account there – and that’s where you should start to find out the OCBC branch code where your account is opened.
In general, OCBC account has 10-12 digits. Within these digits, the first three-digit sequence is the branch code, while the rest is your bank account number. Let’s say, the written number is: 701001001001. Then, the branch code for your account is 701. It is so simple right?
Other Codes Available
Aside from branch code, usually you will be asked about bank code as well. If you are facing such thing, note that the bank code of OCBC is 7339.
While bank code and branch code are used to identify a branch locally, there are other code that is set internationally, meaning that an international institution that makes the system. This code is called as SWIFT code. Singaporean banks also have this code as well.
Each bank and branch has different SWIFT code. This code has a format of 8 to 11 letters and numbers or just letters.
You may also like: OCBC Branch Locator
Who are the Issuer of Codes and What is the Use of These Codes?
Bank and branch code
As aforementioned, the bank and branch code are used as a nationwide bank identifier. Since this code is set for national use, then it is the Central Bank that rules this code for banks. However, sometimes you will need these codes at times of fund transfer either local or international.
Also known as BIC (Business Identifier Code), SWIFT code is widely used for international transaction. The earlier term is often used interchangeably with SWIFT code, while actually SWIFT is the institution that makes the code. SWIFT itself stands from Society for World Interbank Financial Transactions.
Why these codes are made? Aside from being a bank identifier, bank, branch, and BIC code are things that will help you when it comes to fund transferring. With the help of these codes, the transfer will be conducted more precisely. By providing these codes, the fund transfer can be carried out in a more secured way.
It is important to know how to check OCBC branch code, but it is more important to know how to use it. Use your bank and branch codes only if you are asked to provide it for local transfer. While for BIC, it is more common to use it for international interbank fund transfers.