If you are searching for Schlumberger Employees Credit Union Swift Code so that you can use it for any of your international transactions then you are here going to get the exact swift code that will be more helpful to you in your future transactions.
Schlumberger Employees Credit Union Swift Code
Now when you will go through the article below, you will come to know about what is Schlumberger Employees Credit Union Swift Code and not only that how can you understand any new swift code coming in your way and find out which country and which region of the world this Swift code belongs to.
Hence go through the article till the end to know more about it in details.
About: SECU [Schlumberger Employees Credit Union]
Schlumberger Employees Credit Union came into existence in 6th of December, 1946 but again began his actual operation in February of 1947.
SECU is a not for profit financial institution that dedicates its service for affordable and accessible financial services.
SECU has been given a 5-star rating for 62 consecutive quarters through June 2019.
The company deals in the services especially like an auto loan, Home loans, credit cards, mobile apps, etc.
If you want to have further information on SECU then you can simply visit the official site via the link https://www.secu.slb.com.
Do You Know What a SWIFT CODE is?
Swift Code is the only key used by banks worldwide to identify the bank and financial institution of a particular person.
This code is used by the swift network for the wire transfer (money transactions) between them. For international wire transfer (Money Transactions), you will always be asked about your Swift code to make the payment fast and secure.
These Codes Were initially introduced by SWIFT organization as “SWIFT CODES” but further standardized by the International Organization of Standardization (ISO) as BIC that stands for Business Identifier Codes”.
This BIC code has different names such as SWIFT CODE, SWIFT ID, SWIFT-BIC, SWIFT ADDRESS, BEI (Business Entity Identifier) or even ISO 9362 which is a standard format approved by ISO organization. This acronym stands for Society for Worldwide Interbank Financial Telecommunication.
A Detailed Analysis of SWIFT CODE:
Swift codes are broken into segments, similarly, telephone numbers are broken into sections, and each section discloses some information about the institution that this code was assigned. They contain eight or eleven characters. Whenever an eight-letter code is used, it mentions the headquarters of the institute (the main office). How an 11-character code breaks up and represents each section of characters. Let’s take this fictional 11-character SWIFT code:
It can break for these sections:
AAAA – BB – CC – DDD
Part 1 (first 4 letters “AAAA”): This code is used to identify the organization’s global presence (all branches and all divisions all over the world). For example, “CHAS” is used for “JPMORGAN CHASE BANK”
Part 2: (5th and 6th letter “BB”): This two-letter code represents the country of the branch of this special institution and follows the ISO 3166-1 alpha-2 standard to represent the country code. For example, “The US” for “The United States”, “GB” for “The United Kingdom”, CA for “Canada”, etc.
Part 3: (7th and 8th letter “CC”): These characters represent a location code (for example “FF” is the code of “Frankfurt”, “KK” is the code of Copenhagen, etc.) and the second letter (8th) in BIC) sometimes gives this information:
- If this is equal to “0”, then it is usually a BIC assigned for testing purposes (as opposed to the BIC used on live networks).
- If it is equal to “1”, then it shows an inactive partner in the SWIFT network.
- If it is equal to “2”, then this usually refers to the “reverse billing” BIC, which means that the receiver has to pay for the message.
Part 4: (9th to 11th standard “DDD”): These last three characters form a “branch code” which refers to the special branch of the institution. If this section is omitted, then we have an 8-character SWIFT code which is considered in the context of the organization’s HEAD OFFICE. Apart from this, a specific naming convention is that in which case we are referring to the headquarters of an institute, this branch code is “XXX”.
The Drawback of Swift Transactions
While you have read the article above completely you have seen what the advantages of Swift Code are. When one side you know that swift code keeps your international transactions fast and secure, you also should know on the other hand that it is comparatively costlier especially when it is used for wire transfer internationally.
Hence if you are able to afford the amount of charge levied on the transfer of money worldwide using Swift code, then it is realty the best transfer method especially internationally.
Schlumberger Employees Credit Union Swift Code (BIC)
Institution: Schlumberger Employees Credit Union
Branch code: XXX
Address: 2525 SCHLUMBERGER DRIVE
City: Sugar Land, tx
Postal code / Location: SUGAR LAND, TX 77478
Country: UNITED STATES OF AMERICA (USA)
SWIFT code: SCECUS41XXX
SWIFT code (8 characters): SCECUS41
BIC Code analysis (8-letter swift code): SCECUS41
Branch code: XXX
Institution’s 4-letter code: SCEC
Country code: US
Location code: 41
Schlumberger Employees Credit Union Swift Code available above have helped you with the financial transactions you have made and that can be an international transaction or in India transactions. While you have read the article above you have come across the information about how can you identify and analyze a swift code irrespective of any other country.
This swift code that is also known by BIC code might have helped you with your financial transaction as well and in this case with Schlumberger Employees Credit Union Swift Code.
So, was this helpful and the information is given to you here providing a valuable take on your search. IF yes then you can simply drop your feedback in the comment section below. If you have any related query regarding it that too is welcomed right there.