What is Bank Branch Code in South Africa?
SA Bank Branch Code is a unique identification code that helps to identify each individual bank-specific branch in south africa. This unique code is used to send & receive domestic payments across South Africa.
Now, here is two types of branch code – Universal or generic bank branch code & Individual Bank Branch Code. The difference is –
Individual Bank Branch Code: A bank’s branch code essentially shows us the specific area where a branch is situated. Each branch of a particular bank or financial institution gets its own special identification number, which we call a branch code.
Universal or Generic Bank Branch Code: This is a single & universal code for all the bank branches of a particular bank. You can use this universal branch code on any transaction no matter what branch a bank account is held. As far as banking is concerned It’s a user-friendly solution & also when it comes to online transactions universal branch codes make online fund transfers easier. However, the downside of the Universal bank branch code is – till now most banks offer a universal bank branch code but some other financial institutions don’t make use of this universal branch code option.
Universal Branch Codes for South African Banks
List of all South Africa Bank Universal Branch Codes:
|First National Bank / FNB
|Bank of Athens
|SA Post Bank (Post Office)
As a South African who uses online banking and telephone banking, you are going to need universal branch codes. If you’re someone who does a lot of banking, you can utilize the universal branch code for your online payments. This ensures that your payments are still tracked accurately.
Check our previously published article on BBVA Compass Bank.