SWIFT Code BNACESM1 — BANCO NACIONAL DE CUBA, MADRID

About SWIFT Code BNACESM1 — BANCO NACIONAL DE CUBA, MADRID

SWIFT code BNACESM1 is the official 8-character head-office BIC (Bank Identifier Code) for BANCO NACIONAL DE CUBA in MADRID, Spain. 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 BANCO NACIONAL DE CUBA for all outward international remittances from MADRID. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code BNACESM1

The code BNACESM1 follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code BNACESM1

Receiving International Wire Transfers

To receive money from abroad at your BANCO NACIONAL DE CUBA account in MADRID, share SWIFT code BNACESM1 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 BANCO NACIONAL DE CUBA, MADRID must provide SWIFT code BNACESM1. 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 BANCO NACIONAL DE CUBA in MADRID rely on SWIFT code BNACESM1 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 BANCO NACIONAL DE CUBA →

For cheque clearing or NACH mandates, use the MICR code for BANCO NACIONAL DE CUBA →

For TDS challan deposits, find the BSR code for BANCO NACIONAL DE CUBA →

How SWIFT Code BNACESM1 Routes an International Transfer

1. Initiation: The sender provides SWIFT code BNACESM1 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 BANCO NACIONAL DE CUBA.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: BANCO NACIONAL DE CUBA receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code BNACESM1

• Spaces or lowercase letters — Always enter BNACESM1 uppercase with no spaces.
• Using the wrong city — This code is for MADRID 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 Spain.

Data Accuracy

BankZop sources SWIFT/BIC data from publicly available banking registries and official disclosures, updated regularly. For the highest-stakes transactions, always confirm BNACESM1 directly with BANCO NACIONAL DE CUBA's MADRID branch or via the SWIFT BIC Directory.