SWIFT Code ALTKRUM1SOC — ALTA-BANK ZAO, SOCHI

About SWIFT Code ALTKRUM1SOC — ALTA-BANK ZAO, SOCHI

SWIFT code ALTKRUM1SOC is the official 11-character branch-specific BIC (Bank Identifier Code) for ALTA-BANK ZAO in SOCHI, Russia. 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 ALTA-BANK ZAO for all outward international remittances from SOCHI. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code ALTKRUM1SOC

The code ALTKRUM1SOC follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code ALTKRUM1SOC

Receiving International Wire Transfers

To receive money from abroad at your ALTA-BANK ZAO account in SOCHI, share SWIFT code ALTKRUM1SOC 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 ALTA-BANK ZAO, SOCHI must provide SWIFT code ALTKRUM1SOC. 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 ALTA-BANK ZAO in SOCHI rely on SWIFT code ALTKRUM1SOC 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 ALTA-BANK ZAO →

For cheque clearing or NACH mandates, use the MICR code for ALTA-BANK ZAO →

For TDS challan deposits, find the BSR code for ALTA-BANK ZAO →

How SWIFT Code ALTKRUM1SOC Routes an International Transfer

1. Initiation: The sender provides SWIFT code ALTKRUM1SOC 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 ALTA-BANK ZAO.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: ALTA-BANK ZAO receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code ALTKRUM1SOC

• Spaces or lowercase letters — Always enter ALTKRUM1SOC uppercase with no spaces.
• Using the wrong city — This code is for SOCHI 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 Russia.

Data Accuracy

BankZop sources SWIFT/BIC data from publicly available banking registries and official disclosures, updated regularly. For the highest-stakes transactions, always confirm ALTKRUM1SOC directly with ALTA-BANK ZAO's SOCHI branch or via the SWIFT BIC Directory.