Detailed Guide: Using JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM SWIFT Code for Global Transfers
When dealing with international finance, precision is paramount. The BFTVVNVX095 Business Identifier Code (BIC) is the exclusive digital signature for JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM located in LAO CAI. 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 BFTVVNVX095 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:
- BFTV: The Bank Code representing JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM globally.
- VN: The Country Code, identifying that the bank is regulated under Vietnam laws.
- VX: The Location Code, usually pointing to the LAO CAI hub.
- 095: The Branch Code, specifying this exact physical office.
2. How to Receive Money in LAO CAI
If you are a resident or business owner in LAO CAI, you must provide the following information to your international sender. For transactions involving JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM, 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 | BFTVVNVX095 |
| Destination Bank | JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM |
| Branch Location | LAO CAI, Vietnam |
3. Potential Fees & Intermediary Banking
It is important to note that a transfer to JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM might not be direct. Depending on the relationship between your sender's bank and the VN 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 LAO CAI branch code?
In most cases, JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM will
automatically route the funds to your account based on your Account Number/IBAN. However,
using the local BFTVVNVX095 is recommended for faster processing
and lower risk of manual intervention.
Is BFTVVNVX095 the same as a Routing Number?
No. Routing numbers are primarily used for domestic transfers within the USA. For international transfers to Vietnam, 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 BFTVVNVX095 for
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM is part of the latest directory update. We
periodically refresh our database to ensure all codes for LAO CAI are compliant
with current financial standards.
Note: Financial data changes. While BFTVVNVX095 is
verified for JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM, always perform a small test transfer for high-value
transactions. This resource is for educational purposes regarding the banking infrastructure in
LAO CAI, Vietnam.