SWIFT Code NACIKRS1 — NACFCA ITMC, SEOUL

About SWIFT Code NACIKRS1 — NACFCA ITMC, SEOUL

SWIFT code NACIKRS1 is the official 8-character head-office BIC (Bank Identifier Code) for NACFCA ITMC in SEOUL, South Korea. 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 NACFCA ITMC for all outward international remittances from SEOUL. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code NACIKRS1

The code NACIKRS1 follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code NACIKRS1

Receiving International Wire Transfers

To receive money from abroad at your NACFCA ITMC account in SEOUL, share SWIFT code NACIKRS1 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 NACFCA ITMC, SEOUL must provide SWIFT code NACIKRS1. 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 NACFCA ITMC in SEOUL rely on SWIFT code NACIKRS1 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 NACFCA ITMC →

For cheque clearing or NACH mandates, use the MICR code for NACFCA ITMC →

For TDS challan deposits, find the BSR code for NACFCA ITMC →

How SWIFT Code NACIKRS1 Routes an International Transfer

1. Initiation: The sender provides SWIFT code NACIKRS1 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 NACFCA ITMC.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: NACFCA ITMC receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code NACIKRS1

• Spaces or lowercase letters — Always enter NACIKRS1 uppercase with no spaces.
• Using the wrong city — This code is for SEOUL 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 South Korea.

Data Accuracy

BankZop sources SWIFT/BIC data from publicly available banking registries and official disclosures, updated regularly. For the highest-stakes transactions, always confirm NACIKRS1 directly with NACFCA ITMC's SEOUL branch or via the SWIFT BIC Directory.