What is a SWIFT Code?
Irvtus3n- A SWIFT code is an internationally recognized bank identifier used in global financial transactions. Also known as BIC (Bank Identifier Code), it ensures that money sent internationally arrives at the right bank. The code is essential for transferring money between banks, especially for international transactions. The code IRVTUS3N is specifically associated with The Bank of New York Mellon, a prominent financial institution based in New York, USA.
Breaking Down the IRVTUS3N Code
The structure of a SWIFT code typically consists of 8 to 11 characters. Each segment of the code provides specific information about the bank’s location, country, and branch. Here’s how the code IRVTUS3N is structured:
IRVT: The first four characters represent the bank code, identifying the Bank of New York Mellon.
US: These two letters are the country code, indicating the bank’s location in the United States.
3N: The next two characters are the location code, which points to a specific branch or office in New York.
XXX (optional): Sometimes, there may be an additional three-character branch code. If absent, it typically represents the bank’s primary office.
How is IRVTUS3N Used?
The IRVTUS3N SWIFT code is primarily used for facilitating secure international money transfers. Whenever a customer sends money to a recipient in another country, especially through The Bank of New York Mellon, they will need this code to ensure that the money reaches the correct institution. It’s a critical part of the international financial infrastructure, enabling cross-border transactions to occur swiftly and accurately.
It’s worth noting that not all branches of a bank may have unique SWIFT codes. In such cases, the main office’s SWIFT code—such as IRVTUS3N for The Bank of New York Mellon—can often be used for the entire institution.
International Transfers and the Importance of IRVTUS3N
When making or receiving international payments, using the correct SWIFT code is vital. It helps banks identify and verify the bank involved in the transaction. For customers, it’s critical to confirm the SWIFT code with their recipient before initiating a transfer to avoid errors, delays, or loss of funds. If an incorrect code is used, it may result in the funds being held up, or the need to contact the recipient bank to retrieve the money.
This code is widely used for global operations by The Bank of New York Mellon, which is one of the largest financial institutions in the world, known for its custody services, asset management, and other financial products.
Address and Location Associated with IRVTUS3N
The primary office associated with the SWIFT code IRVTUS3N is located at 240 Greenwich Street, New York, NY 10286, or alternatively 1290 Avenue of Americas, New York, NY 10104, depending on the specific documentation. Both addresses are tied to The Bank of New York Mellon’s main operations.
Why Do People Search for IRVTUS3N?
Most searches related to IRVTUS3N arise from individuals or businesses involved in international financial transactions. People who are sending or receiving funds from abroad often need the correct SWIFT code for their bank to ensure the money is transferred to the right place. Since The Bank of New York Mellon is a significant player in global finance, its SWIFT code is frequently sought after by clients handling international wire transfers, corporate clients, and financial institutions that collaborate with it for cross-border activities.
Furthermore, those looking to understand international banking standards often explore SWIFT codes to familiarize themselves with the mechanisms behind cross-border payments.
Conclusion
In summary, IRVTUS3N is an essential part of the global banking framework, specifically for customers of The Bank of New York Mellon. Understanding the structure and purpose of this SWIFT code is crucial for anyone involved in international financial activities. Ensuring that the correct SWIFT code is used during international transfers helps to avoid delays and ensure that funds reach their intended destination securely.
For any customer or business engaged in international payments, confirming the SWIFT code like IRVTUS3N beforehand remains a top priority to facilitate smooth transactions.
FAQs
What is IRVTUS3N?
IRVTUS3N is the SWIFT code for The Bank of New York Mellon. SWIFT codes (also known as BICs or Bank Identifier Codes) are used globally to identify specific banks during international financial transactions. The IRVTUS3N code ensures that funds sent or received are processed by The Bank of New York Mellon’s specific branch, which is based in New York, USA.
Why do I need the IRVTUS3N SWIFT code?
You need the IRVTUS3N SWIFT code when making or receiving international wire transfers involving The Bank of New York Mellon. It ensures that your money reaches the correct institution quickly and securely. Always double-check the SWIFT code with the recipient bank to avoid delays or errors.
What does each part of the IRVTUS3N code mean?
The SWIFT code IRVTUS3N is composed of:
IRVT: Bank code representing The Bank of New York Mellon.
US: Country code indicating the United States.
3N: Location code representing the specific branch in New York.
XXX (optional): The branch code for the main office.
This format follows the SWIFT/BIC standard, ensuring the code provides accurate geographical and institutional information.
Where is The Bank of New York Mellon located?
The primary office associated with the SWIFT code IRVTUS3N is located at:
240 Greenwich Street, New York, NY 10286, United States. Alternatively, some documents may list the address as:
1290 Avenue of Americas, New York, NY 10104, United States
These are two main addresses for The Bank of New York Mellon’s operations, often used interchangeably depending on the type of transaction.
Can I use IRVTUS3N for all transactions with The Bank of New York Mellon?
Not necessarily. While IRVTUS3N is the SWIFT code for The Bank of New York Mellon’s primary branch in New York, some transactions may require a different code, particularly if they involve a specific branch or location. It’s always advisable to confirm the SWIFT code with your bank or recipient to avoid processing issues.
What happens if I use the wrong SWIFT code for my international transfer?
If you use the wrong SWIFT code, your transaction may be delayed or even canceled. In some cases, your money could be sent to the wrong bank. If you realize you’ve used an incorrect SWIFT code, contact your bank immediately to attempt to stop the transaction. If the transfer has already been processed, you’ll need to contact the recipient bank to arrange for a return.
Is IRVTUS3N used for both incoming and outgoing transactions?
Yes, IRVTUS3N can be used for both incoming (receiving international payments) and outgoing (sending international payments) transactions involving The Bank of New York Mellon. The SWIFT code facilitates seamless communication between banks across borders, ensuring that funds are properly transferred.
Can I find IRVTUS3N on my bank statement?
Yes, in most cases, you can find the SWIFT code of your bank on your bank statement, particularly if you’ve recently engaged in international transactions. You can also contact your bank directly or check its website to confirm the correct SWIFT code for your specific needs.
Do I need both an IBAN and SWIFT code for international transfers?
It depends on the country. In some regions like Europe (especially within the Eurozone), both an IBAN (International Bank Account Number) and a SWIFT code are required to process a transaction. In the United States, however, SWIFT codes are used, but IBANs are not. Always check with your bank to determine the specific requirements based on the destination of the transfer.
Is there a fee to use IRVTUS3N for international transfers?
Yes, international wire transfers typically come with fees. These fees can vary based on the bank, the amount of money being transferred, and the country of the recipient. It’s important to compare the fees of different services before making a transfer, as some banks may charge both a transfer fee and a hidden markup on the exchange rate.
How can I ensure my international transfer using IRVTUS3N is safe?
To ensure your transfer is safe, always:
Double-check the SWIFT code and recipient bank details with your recipient.
Verify the fees and exchange rates with your bank before making the transfer.
Use reputable transfer services that offer tracking and support throughout the transaction process.
If you encounter any issues or suspect an error in the transfer, contact your bank immediately to resolve the problem.
To read more; click here
