Lookup for BIC Code/ SWIT Code in Bermuda

Officially name:Bermuda (BM)

Capital: Hamilton

National currency: Bermudian dollar (BMD)

Cancellation: The request to cancel a payment order (MTn92), irrespective of its value date, can be granted only provided that the payment order has not yet been executed or advised by the receiving bank. The beneficiary assents to such cancellation in the case that the payment order has already been executed or advised. If the cancellation requires a retransfer of funds to the requesting bank then the value date applicable to the retransfer will follow the deadlines of the receiving bank. The receiving bank may deduct any out of pocket expenses incurred.

Stop Payment of Cheques: Requests to stop payment on cheques (MT111) would be honoured on a best efforts basis provided the request is received in time to prevent payment.

Value Date(s): Bank transfers - Payment instructions received before cut-off time of the nominated date will be effected as follows: BMD / USD: same day. Foreign currency: next working day or next two working days according to currency requested. Please check with your correspondent for cut-off time.
Customer transfers - Payment will be effected as soon as possible in accordance with normal banking practice of the receiving bank provided payment order is received prior to cut-off times. Please check with receiving bank for cut-off time. Forward value transactions - The value date should be within five business days after the date of transmission. Back Value transactions - Instructions received with a value date before the date of receipt will normally be effected with the value on the date of receipt where possible. Requests for back value should be sent to the back value and compensation section of the receiving bank.