African Bank South Africa : Swift And Branch Codes

African Bank South Africa : Swift And Branch Codes

African Bank South Africa , is a retail bank in South Africa, that offers financial products and services. The Bank is licensed as a “locally controlled bank” by the South African Reserve Bank.

Breif History About African Bank South Africa

The original African Bank Limited, was established on 31 July 1975, and was a subsidiary of African Bank Investments Limited, then a bank controlling company listed on the Johannesburg Stock Exchange. On 10 August 2014, the original African Bank Limited was placed under curatorship by the South African Reserve Bank, under the terms of the South African Banks Act, Act 94 of 1990.

The SARB announced a restructuring proposal, which received support from a consortium of six South African banks and the Public Investment Corporation. A new banking group, African Bank Holdings Limited was created to assume the viable assets and some of the liabilities of the old bank. The legacy bank and the compromised part of the business was renamed Residual Debt Services Limited (RDS). RDS surrendered its banking license on 4 April 2014.

Thomas Winterboer was appointed as curator to implement the restructuring proposal and manage the affairs of the Bank, subject to the supervision of the Registrar of Banks. On 4 April 2016, the new African Bank Limited opened its doors as the new entity, with the required licenses and registrations required by the various regulators in place.

Universal Branch Code for African Bank South Africa

The African Bank universal code is 430 000 and is used by all of its branches to carry out transactions regardless of the branch where the customer opened the account. The introduction of the universal code is considered a user-friendly move because it makes transactions easier and faster for customers using the online banking platform. With this code, customers are not mandated to have the various branch codes before a transaction can be approved. The use of this code has also reduced the mistakes of wrong transactions.

African Bank South Africa Swift Code

Below is a table showing African Bank branch code, BIC analysis & SWIFT code, African Bank address, and African Bank branches contacts.

African Bank	Details
Universal Branch Code	430 000
Routing Number*
SWIFT Code	AFRCZAJJXXX
Bank Address	59 16th Road, Midrand Johannesburg
Registered Address	59 16th Road, Midrand Johannesburg
City	Johannesburg
Bank Telephone	0800 633 633
Fax	0864 944 107
Email Address	africanbank@tip-offs.com

What Are The Uses Of African Bank South Africa Universal Branch Code

• African Bank universal branch code is used to curb financial fraud and banking risks locally and internationally.
• The South African Reserve Bank can use it to track any transactions or find the bank and branch that authorized certain transactions.
• It is also useful in tracking international transactions to protect the global economy. Excess fraudulent activities within various South African banks are capable of causing a downslope to the country’s economy. With the universal code, this will be caught before it happens.

African Bank South Africa Branch Codes

A branch code is a unique identifying code for a given branch of a bank. Each branch of a bank is differentiated by its branch code. These branch codes are known by various different names across the globe.

Differences Between A Universal Branch Code and The Branch Code

The two are used for similar occasions but at different levels…Thus All branches can use the universal branch code to carry out transactions regardless of their location. Where as Branch code is used for internal transactions within a particular branch.

Full List Of African Bank Branch Codes In South Africa

BRANCH NAME	ADDRESS	CITY	BRANCH CODE
HEAD OFFICE	59 16TH AVENUE	GAUTENG	430000

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