A branch code is a six-digit numeric code that represents the bank’s name and the branch’s location. The FNB Somerset Mall branch code is 200912.
You must have come across the term ‘Branch Code’ when doing money transfers or online banking. Most of us don’t bother to check what the term stands for and why every bank has a code for each of its branches. All the banks in South Africa, including FNB, have a branch code for every branch, and the customers use these codes for a number of banking purposes.
As a customer, you need to understand that the code identifies all the FNB branches, including the FNB Somerset Mall branch code that represents the Somerset Mall branch. An important aspect to keep in mind is that the Central Bank assigns the branch code to identify the branches of every bank in South Africa. Those who understand the finance transfer systems are aware that there are many systems that use branch codes.
Where Can You Use The FNB Somerset Mall Branch Code?
If you are a First National Bank client, you must know the requirement of the branch code for making electronic transactions. FNB has numerous branches across South Africa, and if you have a friend or a family member who has an account in the Somerset Mall branch, then you need the right FNB Somerset Mall branch code for that. You can use this branch code for several reasons, especially if you want to transfer online or offline money.
With the help of the code, it becomes possible to identify each bank that participates in Electronic Funds Transfer (EFT). In order to transfer money to a beneficiary into another bank account, you need to add all the bank details of your beneficiary, including the name, account number and the branch code where the individual maintains the account. Only after the verification of the branch code will you be able to transfer the funds to the person you intend to make your transaction.
What Advantages Does A Branch Code Offer To The Banking Customers?
Whether your beneficiary is in the Somerset Mall branch of FNB or any other branch, the FNB Somerset Mall branch code offers a number of advantages in the banking system that are mentioned below:
- It is Beneficial for the Payee
With the help of the branch code, it becomes possible to credit the amount directly to the bank account of the beneficiary, which means that you don’t only save your time, but also the time of the payee. He doesn’t have to visit the bank and stand in lines to receive the amount.
- There is No Risk Involved
When transferring money, there are a number of people who may be afraid of loss or fraud. The best thing about using the branch code for the online transfer of funds is that there is no such risk because you will be able to find out the branch code of the desired bank branch through the FNB platform.
- Quick Fund Transfers
The branch code allows you to transfer funds immediately from one bank account to another. With the help of the online transfer method, you have to add the beneficiary and transfer the amount from your bank account within a few minutes.
- You Can Track Your Financial Transactions
In South Africa, branch code has become a great tool to enable the tracking and management of financial transactions. It means that you can look at the history of your transactions at any time, and everything is done hassle-free.
What Are The Best Ways To Find The FNB Branch Code?
Now it is possible to get your FNB Somerset Mall branch code online and offline. The FNB official website is the best tool to get the branch code, but numerous other websites can give you the branch code you are looking for. Normally, you will find the list of all the available FNB branch codes from these sites. The following are some of the best ways through which you can get the desired branch code.
- The FNB website is an ideal tool for getting the branch code. Its branch locator will give you the desired branch code, address, and other details of the FNB branch.
- The FNB branch code is also found printed on the bank statement or your checkbook.
- If you still have issues getting the desired branch code, you can always contact FNB customer care and get a particular FNB branch code.
When we talk about the FNB Somerset Mall branch code, it enables the bank to manage and track all electronic financial transactions. It offers several benefits, thus making banking simple and comfortable by saving efforts and time for the customers. One can handle a maximum number of banking transactions like funds transfer, internet banking and a lot more through the branch code while sitting at home, office or any place at their convenience.