ABANCA USA SWIFT CODE

CAGLUS3M – ABANCA USA

SWIFT CODE	CAGLUS3M
BANK	ABANCA USA
ADDRESS	BRICKELL ARCH 1395 BRICKELL AVENUE, FLOOR 15
CITY	MIAMI
BRANCH
POSTCODE	33131
COUNTRY	United States

ABANCA USA SWIFT CODE CAGLUS3M

What is a SWIFT code?

A SWIFT code is an international bank code that identifies specific banks worldwide. It stands for Society for Worldwide Interbank Financial Telecommunication. SWIFT codes are used to transfer money electronically between banks around the world.

ABANCA USA SWIFT code details

The SWIFT code for ABANCA USA is CAGLUS3M. This code provides key details that facilitate international wire transfers, including:

• Bank Identification Code (BIC): CAGLUS3M
• Bank: ABANCA USA
• Address: 1395 Brickell Avenue, Floor 15, Miami
• City and Country: Miami, United States

Saving on fees with Wise

Services like Wise can save up to 8x on international transfer fees compared to traditional banks. Their exchange rates help maximize the amount recipients get too.

Background on ABANCA USA

History and founding

ABANCA USA first opened its doors in 2014 as the Florida-based subsidiary of Spanish financial group ABANCA. ABANCA formed through the 2013 merger of three Galician saving banks. The group now has over 500 branches globally and strong growth in the Americas.

Locations and services

Headquartered in Miami, ABANCA USA offers full-service international banking focused on trade financing, commercial lending, private banking, and treasury management. Customers can access in-person support from the Brickell and Aventura offices.

Financial performance

As of mid-2021, the bank held over $2.2 billion in assets. Despite impacts from Covid-19, the group achieved all-time high profits in 2020 thanks to solid cost control and increased customer deposits.

Sending or receiving money internationally

Fees and exchange rates with banks

Banks typically charge fees of up to 12% for international transfers and use retail exchange rates that reduce the amount sent. Unexpected intermediary bank fees often apply too.

How Wise works

Wise offers low, upfront transfer fees and uses the mid-market exchange rate available to financial institutions. Recipients get more local currency deposited directly into their accounts.

Wise membership tiers

Wise has Standard, Plus, and Business memberships with perks like free transfers over $500 USD, personalized support, multi-currency accounts, and integration tools.

Step-by-step guide to using Wise

Signing up for an account

You can quickly join Wise via web or mobile app. Registration requires photo ID and funding your account through bank transfer or card.

Adding a recipient

Add key details for the recipient bank account, including names, bank details (like SWIFT codes), and address. Save this account to easily repeat transfers.

Making a transfer

Initiate transfers through your dashboard by selecting the recipient account, currency, and transfer amount. Extra options include transfer speed or adding reference notes.

Tracking transfer status

The Wise dashboard and notifications provide updates on the transfer status, estimated arrival, exchange rate, fees paid, and amount delivered.

Receiving money into Wise

Those receiving funds via Wise get notified of incoming transfers in the mobile app or via email. Funds then get automatically converted and deposited.

Tips for avoiding fees and delays

Checking for eligible currencies

Wise cannot transfer some restricted country currencies. Check eligibility before sending funds to avoid returned transfers or conversions to USD.

Verifying recipient details

Typos can cause delays, so carefully check details like recipient names, bank names, account numbers, and SWIFT codes before initiating transfers.

Choosing transfer speed

Regular or low-cost transfers take 1-3 business days but have much lower fees than instant options costing 1% of transfer amounts.

Wise features and add-ons

Multi-currency account

Save on conversions by holding up to 17 currencies in your Wise account. You can invoice, receive, and send in different denominations.

Borderless account

Get local banking details like account numbers, sort codes, or routing numbers for Britain, Europe, the US, Australia, and more.

Wise card

This debit card enables fee-free spending from your various currency balances and ATM withdrawals abroad with the interbank rate.

ABANCA USA SWIFT code specifics

Format breakdown

Let’s examine the sections of the SWIFT code CAGLUS3M:

• CAGL: ABANCA USA’s identifier
• US: Country code
• 3M: Location and branch codes

Locating the SWIFT code

ABANCA USA’s website lists key details like routing numbers, contacts, and SWIFT code CAGLUS3M to aid with international transfers.

FAQs about SWIFT codes

What is the SWIFT code for ABANCA USA?

The SWIFT code for ABANCA USA is CAGLUS3M.

What are Wise’s transfer fees?

Wise charges a small, upfront transfer fee that is clearly displayed before sending. Their average fee is around 1% but the exact amount depends on factors like transfer amount, currency, and country.

How long do Wise transfers take?

Most Wise transfers arrive in 1-3 business days thanks to their use of the latest money transfer technology and systems. Transfer times can vary slightly by country.

Can I transfer money internationally without fees?

While no international money transfer provider offers completely free transfers, services like Wise get extremely close through their low-cost model. Their fees are significantly less than traditional bank wires.

What information do I need to give someone to send me money internationally?

You need to provide the sender your full name, Wise account number, and possibly your address or phone number. Wise allows senders to initiate transfers with minimal recipient details.

Can I make transfers without a SWIFT code?

International wire transfers generally require the recipient’s SWIFT code and address to route funds correctly between correspondent banks.

How do I find SWIFT codes for other banks?

The SWIFT website has a database to lookup codes. You can also find details printed on account statements or listed on bank websites.