Detailed Guide: Using RAYS MICRO FINANCE INSTITUTION S.C SWIFT Code for Global Transfers
When dealing with international finance, precision is paramount. The RMFIETA2 Business Identifier Code (BIC) is the exclusive digital signature for RAYS MICRO FINANCE INSTITUTION S.C located in ADDIS ABABA. 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 RMFIETA2 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:
- RMFI: The Bank Code representing RAYS MICRO FINANCE INSTITUTION S.C globally.
- ET: The Country Code, identifying that the bank is regulated under Ethiopia laws.
- A2: The Location Code, usually pointing to the ADDIS ABABA hub.
- XXX: The Branch Code, specifying this exact physical office.
2. How to Receive Money in ADDIS ABABA
If you are a resident or business owner in ADDIS ABABA, you must provide the following information to your international sender. For transactions involving RAYS MICRO FINANCE INSTITUTION S.C, 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 | RMFIETA2 |
| Destination Bank | RAYS MICRO FINANCE INSTITUTION S.C |
| Branch Location | ADDIS ABABA, Ethiopia |
3. Potential Fees & Intermediary Banking
It is important to note that a transfer to RAYS MICRO FINANCE INSTITUTION S.C might not be direct. Depending on the relationship between your sender's bank and the ET 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 ADDIS ABABA branch code?
In most cases, RAYS MICRO FINANCE INSTITUTION S.C will
automatically route the funds to your account based on your Account Number/IBAN. However,
using the local RMFIETA2 is recommended for faster processing
and lower risk of manual intervention.
Is RMFIETA2 the same as a Routing Number?
No. Routing numbers are primarily used for domestic transfers within the USA. For international transfers to Ethiopia, 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 RMFIETA2 for
RAYS MICRO FINANCE INSTITUTION S.C is part of the latest directory update. We
periodically refresh our database to ensure all codes for ADDIS ABABA are compliant
with current financial standards.
Note: Financial data changes. While RMFIETA2 is
verified for RAYS MICRO FINANCE INSTITUTION S.C, always perform a small test transfer for high-value
transactions. This resource is for educational purposes regarding the banking infrastructure in
ADDIS ABABA, Ethiopia.