Detailed Guide: Using INDIAN OVERSEAS BANK SWIFT Code for Global Transfers
When dealing with international finance, precision is paramount. The IOBAINBB139 Business Identifier Code (BIC) is the exclusive digital signature for INDIAN OVERSEAS BANK located in PANJIM. Without this precise string of characters, your international wire transfer could be delayed, routed to the wrong intermediary, or returned with significant banking fees.
1. Understanding the 11-Character Logic
The code IOBAINBB139 is not a random sequence. It follows a strict ISO-9362
hierarchy that tells the global financial system exactly where your money needs to land:
- IOBA: The Bank Code representing INDIAN OVERSEAS BANK globally.
- IN: The Country Code, identifying that the bank is regulated under India laws.
- BB: The Location Code, usually pointing to the PANJIM hub.
- 139: The Branch Code, specifying this exact physical office.
2. How to Receive Money in PANJIM
If you are a resident or business owner in PANJIM, you must provide the following information to your international sender. For transactions involving INDIAN OVERSEAS BANK, ensure these fields are filled accurately in the MT103 (SWIFT Message Type):
| Field Name | Required Value |
|---|---|
| Beneficiary Name | Your Full Legal Name |
| Account Number | IBAN or Regional Account Format |
| BIC/SWIFT | IOBAINBB139 |
| Destination Bank | INDIAN OVERSEAS BANK |
| Branch Location | PANJIM, India |
3. Potential Fees & Intermediary Banking
It is important to note that a transfer to INDIAN OVERSEAS BANK might not be direct. Depending on the relationship between your sender's bank and the IN banking system, an "Intermediary Bank" might be involved. These banks may deduct a "Handling Fee" ranging from $15 to $50. Always ask your sender to choose the OUR instruction if they wish to cover all costs, or SHA to share the fees with you.
4. Frequently Asked Questions (Verified Answers)
What happens if I use the Head Office SWIFT instead of the PANJIM branch code?
In most cases, INDIAN OVERSEAS BANK will
automatically route the funds to your account based on your Account Number/IBAN. However,
using the local IOBAINBB139 is recommended for faster processing
and lower risk of manual intervention.
Is IOBAINBB139 the same as a Routing Number?
No. Routing numbers are primarily used for domestic transfers within the USA. For international transfers to India, the SWIFT code is the standard identifier used by the global banking network.
How can I verify if this code is still active?
The code IOBAINBB139 for
INDIAN OVERSEAS BANK is part of the latest directory update. We
periodically refresh our database to ensure all codes for PANJIM are compliant
with current financial standards.
Note: Financial data changes. While IOBAINBB139 is
verified for INDIAN OVERSEAS BANK, always perform a small test transfer for high-value
transactions. This resource is for educational purposes regarding the banking infrastructure in
PANJIM, India.