SWIFT Code KOVTHUH1 — KORMEND ES VIDEKE TAKAREKSZOVETKEZET, KORMEND

About SWIFT Code KOVTHUH1 — KORMEND ES VIDEKE TAKAREKSZOVETKEZET, KORMEND

SWIFT code KOVTHUH1 is the official 8-character head-office BIC (Bank Identifier Code) for KORMEND ES VIDEKE TAKAREKSZOVETKEZET in KORMEND, Hungary. Standardised under ISO 9362 and maintained by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), this code is used exclusively for cross-border wire transfers and is recognised by financial institutions in over 200 countries.

This code must be provided to the sender when receiving money from abroad, and is required by KORMEND ES VIDEKE TAKAREKSZOVETKEZET for all outward international remittances from KORMEND. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code KOVTHUH1

The code KOVTHUH1 follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code KOVTHUH1

Receiving International Wire Transfers

To receive money from abroad at your KORMEND ES VIDEKE TAKAREKSZOVETKEZET account in KORMEND, share SWIFT code KOVTHUH1 with the sender along with your full account number, your name as on the account, and the branch address.

NRI Remittances

Non-Resident Indians sending money to NRO/NRE accounts at KORMEND ES VIDEKE TAKAREKSZOVETKEZET, KORMEND must provide SWIFT code KOVTHUH1. Major remittance platforms — including Wise, Remitly, Western Union, and MoneyGram — use this code to route transfers accurately.

Trade Finance and Foreign Payments

Importers and exporters using KORMEND ES VIDEKE TAKAREKSZOVETKEZET in KORMEND rely on SWIFT code KOVTHUH1 for letters of credit, bank guarantees, and foreign currency settlements.

SWIFT Code vs IFSC vs MICR vs BSR — Key Differences

Need the IFSC code for domestic NEFT, RTGS, or UPI transfers? View the IFSC code for KORMEND ES VIDEKE TAKAREKSZOVETKEZET →

For cheque clearing or NACH mandates, use the MICR code for KORMEND ES VIDEKE TAKAREKSZOVETKEZET →

For TDS challan deposits, find the BSR code for KORMEND ES VIDEKE TAKAREKSZOVETKEZET →

How SWIFT Code KOVTHUH1 Routes an International Transfer

1. Initiation: The sender provides SWIFT code KOVTHUH1 and account number to their bank.
2. Validation: The sending bank validates the BIC against the SWIFT registry.
3. Routing: An MT103 SWIFT message is transmitted through the network to KORMEND ES VIDEKE TAKAREKSZOVETKEZET.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: KORMEND ES VIDEKE TAKAREKSZOVETKEZET receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code KOVTHUH1

• Spaces or lowercase letters — Always enter KOVTHUH1 uppercase with no spaces.
• Using the wrong city — This code is for KORMEND only.
• Truncating to 8 characters — When 11 characters are required, always use the full code.
• Using SWIFT for domestic transfers — Use the IFSC code for any transfer within Hungary.

Data Accuracy

BankZop sources SWIFT/BIC data from publicly available banking registries and official disclosures, updated regularly. For the highest-stakes transactions, always confirm KOVTHUH1 directly with KORMEND ES VIDEKE TAKAREKSZOVETKEZET's KORMEND branch or via the SWIFT BIC Directory.