Svalbard and Jan Mayen Bank Swift Code and BIC Code
What is Svalbard and Jan Mayen SWIFT Code?
SWIFT code is a standard format of Bank Identifier Codes (BIC) and serves as a unique identifier for a bank or financial institution.
These codes are used when transferring money between banks, particularly for international wire transfers. On top of that, the code is used to transmit messages between financial institutions and banks in the Svalbard and Jan Mayen.
The SWIFT code can be either 8 or 11 characters long and 8 digits code refers to the primary office. The format of SWIFT Code is as follows;
AAAA SJ CC DDD
- The first 4 characters ("AAAA") specify the bank. Only letters are allowed.
- The next 2 characters ("SJ") specify the country. It use the format of ISO 3166-1 alpha-2 country code.
- The next 2 characters ("CC") specify the location. Letters and digits are allowed. Passive participant will have "1" in the second character
- The last 3 characters ("DDD") specify the branch. This is an optional. A 'XXX' refer to primary office. Letters and digits are allowed.
Svalbard and Jan Mayen is a statistical designation defined by ISO 3166-1 for a collective grouping of two remote jurisdictions of Norway: Svalbard and Jan Mayen. While the two are combined for the purposes of the International Organization for Standardization category, they are not administratively related. This has further resulted in the country code top-level domain.sj being issued for Svalbard and Jan Mayen, and ISO 3166-2:SJ. The United Nations Statistics Division also uses this code, but has named it Svalbard and Jan Mayen Islands.