Faq What is the IBAN Code for Your Bank Account?
No, we do not have an IBAN (International Bank Account Number). Our bank accounts are located in China, and the Chinese banking system does not use the IBAN standard. For all international wire transfers to our accounts, you must instruct your bank to use the SWIFT/BIC (Society for Worldwide Interbank Financial Telecommunication / Bank Identifier Code) system, along with our complete bank account details.
Correct Instructions for Your Bank
When initiating a payment to Yuxuan Company, please provide your bank with the following key information:
- Beneficiary Name: Yuxuan Company Ltd. (or the exact legal name provided on your invoice).
- Beneficiary Account Number: [Our specific account number, provided on your invoice].
- Beneficiary Bank Name & Address: [Our bank's name and branch address in China].
- SWIFT/BIC Code: [The unique 8 or 11-character code for our specific bank branch].
- Payment Currency: USD (or other pre-agreed currency).
Do not request or enter an IBAN field. If your bank's online form has a mandatory IBAN field, you may need to contact them directly to process the transfer as a non-IBAN country payment, or enter "NOT APPLICABLE" or "N/A" if the system allows.
Understanding SWIFT Codes by Region
Your bank will use our SWIFT code to route the payment through the correct network. The table below explains the role of SWIFT codes and provides examples of major banks in different regions from which our clients commonly send payments. These are examples only; you must use the specific SWIFT code we provide for our bank account.
| Your Region (Sending Bank) | Example Major Local Banks | Example SWIFT Code Format | Important Routing Note |
|---|---|---|---|
| Africa |
| E.g., SCBLNGLAXXX (StanChart Nigeria) | Payments from Africa often pass through 1-3 intermediary banks in Europe or the US before reaching China. Each bank needs the correct SWIFT code for the next bank in the chain. |
| Middle East |
| E.g., EBILAEADXXX (Emirates NBD) | GCC banks have well-established corridors with China. Ensure your bank has our beneficiary bank's correct SWIFT code to avoid routing through unnecessary intermediaries. |
| Central Asia |
| E.g., HSBKKZKXXXX (Halyk Bank) | Transfers may route through Russian (e.g., Sberbank) or Turkish correspondent banks. The final leg to China requires our bank's precise SWIFT code. |
| Southeast Asia |
| E.g., DBSSSGSGXXX (DBS Singapore) | This region has very efficient direct links with Chinese banks. Using our correct SWIFT code ensures the most direct and cost-effective routing. |
Step-by-Step Guide for a Successful Transfer
To ensure your payment reaches us without delay:
- Receive Our Bank Details: Bank details are provided on your official Proforma Invoice. Never use details from an unverified source.
- Contact Your Bank: Inform them you are sending a wire transfer to a non-IBAN country (China) and will provide SWIFT code details.
- Provide Complete Information: Give them all details from the invoice, emphasizing the SWIFT/BIC code.
- Specify "OUR" Charges: Instruct that all bank charges are to be borne by you (the remitter) to ensure we receive the full amount.
- Send Proof: Once initiated, email us the bank's SWIFT confirmation (MT103) immediately for tracking.
Common Issues and Troubleshooting
- "IBAN is Mandatory" Error: If your bank's online system requires an IBAN, you likely cannot use the online portal for this transfer. You must visit a branch or call your bank's international desk to process it manually as a non-IBAN payment.
- SWIFT Code Validation: Some online systems validate the SWIFT code format. Ensure you enter the 8 or 11-character code correctly, without spaces.
- Beneficiary Name Mismatch: The account name must match exactly. Using "Yuxuan Co." instead of the full registered name can cause delays or rejection.
- Intermediary Bank Requirements: Sometimes, your bank or an intermediary bank may require additional information (e.g., "CHIPS UID" or "FED Routing Number"). If asked, contact us, and we will provide the necessary details.
Final Note: The absence of an IBAN is normal for Chinese accounts. The SWIFT/BIC system is the globally accepted alternative for routing payments to China. Always rely on the bank details provided in your official invoice and confirm any uncertainties with your Yuxuan sales manager before transferring funds.