What is SWIFT code?

cnttlccnttlc Posts: 2Member

Hi Payneer,

 

When i add  US Payment Service to Paypay then Paypay request SWIFT code. 

I am live Vietnam. Please help me.

 

thankyou.

Comments

  • Dennis5piaDennis5pia Posts: 9Member
    edited July 2013
    US Payment Service is for selected companies only. I don't know if paypay is in the allowed list or not. But I can tell, you are adding the US payment service account as wire transfer account which needs the bank Swift Code. Wire trnasfer are not allowed by payoneer.

    Make sure paypay is in the payoneer white list for USPS then if does. Try to add the US payment service account again but select bank transfer not bank wire. US Payment Service is for ACH transactions from selected companies only.
  • Bilal SheikhBilal Sheikh Online Freelancer Posts: 92VIP Member ✭✭
    cnttlc wrote on July 21 2013, 2:11 AM: »

    Hi Payneer,

     

    When i add  US Payment Service to Paypay then Paypay request SWIFT code. 

    I am live Vietnam. Please help me.

     

    thankyou.

     

    Make sure while it is "PayPay" or "PayPal" ? Paypay is not listed on Payoneer's approved senders list, but PayPal is accepted. You can check the senders list here http://www.payoneer.com/USPService.aspx

     

    If your issue is PayPal then you don't need swift code, you need routing number. In your PayPal account when adding a Bank account; select Bank in USA. You can find Payoneer USPS information by logging in your Payoneer account > Receive Money > US Payment Service. Keep in mind that your Payoneer USP Service is a virtual Bank Account in USA. And in USA, banks are operated by routing number, not swift code.

     

    What is SWIFT code?

    SWIFT is a standard format of Bank Identifier Codes approved by the International Organization for Standardization (ISO). It is a unique identification code for both financial and non-financial institutions. The acronym SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication.

    So a bank can be identified by SWIFT code.

     

    What is ROUTING number?

    A routing number is a nine digit bank code, used in the United States, which appears on the bottom of negotiable instruments such as checks identifying the financial institution on which it was drawn. This code was designed to facilitate the sorting, bundling, and shipment of paper checks back to the drawer's (check writer's) account.

    Sometimes routing number called as ABA Routing Number. ABA means American Bankers Association.

    So, a US bank can be identified by Routing Number.

     

    What is SORT code?

    A sort code is the name given by both the British and Irish banking industry to the bank codes which are used to route money transfers between banks within their respective countries via their respective clearance organisations.

     

     

    SWIFT = Society for Worldwide Interbank Financial Telecommunication

    BIC = Bank Identifier Codes, or Business Identifier Codes

    IBAN = International Bank Account Number

     

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    If you need SWIFT code, then go to your local bank's nearest branch and collect SWIFT code from a staff (Official) of the bank. If a staff cannot tell you the SWIFT code of that bank then go to the bank Manager and request to him for SWIFT code.

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  • cnttlccnttlc Posts: 2Member

    I want to add  US Payment Service to Paypal but in form input bank info paypal request a SWIFT code .

  • RomiRomi Community Manager Posts: 2,706Member ✭✭✭

    Please try contacting PayPal directly and providing them the bank number, bank account number and routing number we've given you. They should be able to sort this out.

    Romi

    Community Manager at Payoneer


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