BAOBAB BANQUE MADAGASCAR SA
SWIFT Code

BMAD MGMG

Complete details for secure international wire transfers

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Bank Location

Bank Name

BAOBAB BANQUE MADAGASCAR SA

Branch

Main Branch

City

ANTANANARIVO

Country

Madagascar

Full Address

ARIANE BUILDING 5A, FLOOR 1, 5A, AREA GALAXY

Understanding SWIFT Code Structure

BMADBank Code
First 4 characters identify the bank
MGCountry Code
ISO country code
MGLocation Code
City/region identifier

How to Use This SWIFT Code

International Wire Transfers: Use this code when sending money internationally to ensure funds reach the correct bank and branch.

Business Payments: Essential for international trade payments, supplier settlements, and export-import transactions.

Correspondent Banking: Required for banks to identify each other in the global financial network.

Letter of Credit: Necessary for trade finance instruments and documentary collections.

What You Need for Wire Transfers

  • • Recipient's full name and address
  • • Complete bank address
  • • SWIFT/BIC code
  • • Account number or IBAN
  • • Purpose of transfer
  • • Your identification documents
  • • Transfer amount and currency
  • • Additional reference information

Common Wire Transfer Mistakes

  • • Using outdated or incorrect SWIFT codes
  • • Mixing up similar bank or branch codes
  • • Incomplete recipient information causing delays
  • • Not checking correspondent banking relationships
  • • Ignoring compliance requirements for large transfers
  • • Incorrect currency codes or amount specifications

Expected Processing Times

Standard Wire Transfer

  • • Same country: 1-2 business days
  • • International: 3-5 business days
  • • Complex routing: 5-7 business days

Factors Affecting Speed

  • • Time zones and banking hours
  • • Compliance checks and regulations
  • • Correspondent bank relationships
Pro tip: Always verify SWIFT codes with the recipient bank before initiating transfers. Even small errors can cause delays or failures.
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Related Resources

• SWIFT Network: Official directory of all SWIFT codes worldwide

• Reserve Bank Guidelines: Regulations for international money transfers

• Foreign Exchange Rules: Compliance requirements for cross-border payments

• Anti-Money Laundering: KYC and documentation requirements