ARION BANK

Arion Banki hf., formerly Nýja Kaupþing hf. (lit. 'New Kaupthing'), is an Icelandic bank with roots tracing back to 1930. The bank operates in the Greater Reykjavík area as well as in the largest urban areas around the country. In 2016 the bank had the third largest market share of the current accounts in Iceland (30%), behind Landsbankinn (36.1%) and Íslandsbanki (31%).[2] The Bank has 13 branches all over the country and over 100,000 customers. In recent years, the bank has faced criticism for shutting down several of its branches in smaller towns throughout Iceland.[3]

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ARION BANK SWIFT Code

ID
Country
City
Bank or Institution
SWIFT Code
1
Iceland
REYKJAVIK
/
ESJAISRE
2
Iceland
REYKJAVIK
/
ESJAISREXXX
  • Total: 2
  • 1

About ARION BANK

  • Company type
    Hlutafélag
  • Industry
    Banking
  • Founded
    July 1, 1930 (94 years ago) ( 1930-07-01 ) in Reykjavík , Iceland (as Búnaðarbanki Íslands ) April 2003 (as KB Banki ) October 18, 2008 (as Arion Banki)
  • Headquarters
    Reykjavík , Iceland
  • Key people
    Benedikt Gíslason ( CEO ) Brynjólfur Bjarnason ( Chairman )
  • Products
    Consumer banking , corporate banking , mortgage loans , private banking , private equity , wealth management , credit cards
  • Revenue
    ISK 50.764 billion (2020) [ 1 ]
  • Number of employees
    776 (End of 2020) [ 1 ]
  • Website
    www.arionbanki.is

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What is a SWIFT code?

A SWIFT code is an 8 or 11 character code used in banking to facilitate transactions and identify the bank.
What is the purpose of a SWIFT code in international transactions?

What is the purpose of a SWIFT code in international transactions?

SWIFT codes are used to route international financial transactions to the correct bank and branch. It facilitates the smooth and accurate transfer of funds between different banks and countries, ensuring that the transactions are processed correctly and securely.

How do I find my bank's SWIFT code?

You can find your bank's SWIFT/BIC code in the statements of your bank account. You can also use our SWIFT/BIC finder to get the right code for your transfer.
How do I find my bank's SWIFT code?

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Frequently Asked Questions

1. Why does ARION BANK have different SWIFT Codes?

ARION BANK operates differently across various countries, regions, and branches, with variations in business operations and clearing paths. To accurately identify and process ARION BANK's cross-border payments and other transactions, different SWIFT Codes are used for distinction. Many large multinational banks have unique SWIFT Codes to their headquarters, regional branches, and overseas subsidiaries to ensure precise and secure fund transactions.

2. How do I know which SWIFT Code of ARION BANK to use in a transfer?

It depends on the specific business scenario. For cross-border remittance to a branch of ARION BANK, you can log on to the official website of ARION BANK, or search the current page of XTransfer, or call ARION BANK to inquire about the SWIFT Code of the branch. For international business, you should first coordinate with the relevant branch in the target country and confirm the correct SWIFT Code based on the exact information provided by your business partner.

3. Is there any pattern in the composition of different SWIFT Codes for a multinational bank like ARION BANK?

Usually, SWIFT Code consists of 8 or 11 characters. For ARION BANK, the first 4 digits represent the bank code, which is the same for ARION BANK worldwide; the 5th and 6th digits are the country code; and the 7th and 8th digits are the region code, which will be different for branches in various regions. If the code includes 11 digits, the last 3 digits represent the branch code, which is used to distinguish different branches within the same region.

4. Will the SWIFT Code for ARION BANK be updated or changed?

Yes. When ARION BANK undergoes an organizational restructuring, such as a branch relocation, merger or split, or when there is a significant change in the financial system of the region where ARION BANK is located, its SWIFT Code may be updated and changed. ARION BANK will announce the changes in advance through its official website, mobile banking APP and other channels. Therefore, when handling cross-border business, customers should pay attention to the announcement of ARION BANK in time to confirm the latest SWIFT Code information, so as to avoid affecting the business.

5. Do different SWIFT Codes of ARION BANK support the same scope of business?

The scope of business is different. While the same bank can operate with different SWIFT Codes for the same basic types of business, there are differences for some specialized businesses or for businesses in specific regions. For example, the SWIFT Code of some branches may be specialized to support trade finance business, while the SWIFT Code of other branches is more convenient for cross-border e-commerce collection. In addition, for some emerging markets or country-specific business, only the SWIFT Code of a particular branch may have the authority to process it. When conducting international business, it is important to check whether the SWIFT Code of ARION BANK supports the corresponding business.