Premium Trust Bank SWIFT Code in Nigeria: PTRUNGLA, BIC and International Transfer Guide
Premium Trust Bank customers receiving money from outside Nigeria may be asked to provide a SWIFT or BIC code. For Premium Trust Bank Limited, the listed eight-character code is PTRUNGLA, while the eleven-character head-office version is PTRUNGLAXXX.
The important thing is not merely knowing the code. The sender also needs accurate beneficiary information, and some international currencies can involve intermediary or correspondent banks.
Premium Trust Bank SWIFT Code
| Payment detail | Premium Trust Bank information |
|---|---|
| Institution | Premium Trust Bank Limited |
| 8-character BIC | PTRUNGLA |
| 11-character head-office BIC | PTRUNGLAXXX |
| Bank code | PTRU |
| Country code | NG |
| Location code | LA |
| Listed address | Plot 1612 Adeola Hopewell, Lagos |
The Code You Should Look For on an International Payment Form
If the sender’s bank asks for an eight-character SWIFT/BIC, the relevant code is PTRUNGLA.
If the form specifically requires an eleven-character head-office BIC, the corresponding form is PTRUNGLAXXX.
Do not alter the code by adding letters based on the name of a local branch. A branch-specific identifier should only be used when Premium Trust Bank has provided and confirmed it.
Understanding PTRUNGLA
The structure can be read as follows:
- PTRU — institution identifier.
- NG — Nigeria.
- LA — location identifier.
The final three characters of an eleven-character BIC identify a branch or office. The head-office form uses XXX.
Receiving an International Payment
Consider a Nigerian organisation receiving a grant or payment from an international institution. The foreign payer may request a bank name, beneficiary name, account number and SWIFT code before initiating the transfer.
The organisation should provide its exact Premium Trust Bank account information together with the bank’s applicable international transfer instructions.
Depending on the payment, the sender may also need:
- Beneficiary address
- Bank address
- Currency
- Purpose of payment
- Correspondent-bank information
- Additional compliance documents
Not every international payment uses exactly the same information fields.
Why the Beneficiary Account Number Still Matters
Someone may search for a Premium Trust Bank SWIFT code because a foreign sender is asking for it. It is easy to assume that the code is enough. It is not.
The BIC identifies the receiving institution. The account number directs the payment to the customer’s account. The beneficiary name provides another layer of identification.
For that reason, sending PTRUNGLA without the recipient’s account information will generally not provide enough information to complete the payment.
SWIFT and Correspondent Banks
An international payment can pass through one or more financial institutions. The correspondent bank is part of the payment route, whereas Premium Trust Bank is the beneficiary bank in this example.
If the sender receives official instructions containing a correspondent-bank SWIFT code, the sender should not replace Premium Trust Bank’s BIC with it. Each code has a different role.
Premium Trust Bank and the 8- vs 11-Character Question
The difference is straightforward:
PTRUNGLA = eight characters.
PTRUNGLAXXX = eleven characters, using the head-office suffix.
The choice depends on the payment system’s requirements. Some platforms accept eight characters; others ask for eleven.
Does Premium Trust Bank Have a SWIFT Code?
Yes. Premium Trust Bank Limited is listed with the SWIFT/BIC PTRUNGLA.
The corresponding head-office form is PTRUNGLAXXX.
What Can Cause a Premium Trust Bank Transfer to Fail?
- Wrong beneficiary account number
- Incorrect SWIFT/BIC
- Incorrect beneficiary name
- Missing intermediary information
- Incorrect currency instructions
- Compliance or regulatory checks
- Outdated payment instructions
Correcting the SWIFT code alone may not resolve a transfer problem if another part of the payment instruction is incorrect.
SWIFT vs Nigerian Domestic Banking Codes
A domestic transfer from one Nigerian account to another is not normally routed using SWIFT. Domestic banking uses local identifiers and account information.
| Identifier | Purpose |
|---|---|
| SWIFT/BIC | International bank identification |
| Account number | Customer account identification |
| NIBSS/CBN code | Domestic electronic banking identification |
| Sort code | Applicable domestic clearing and branch identification |
Frequently Asked Questions
What is the Premium Trust Bank SWIFT code?
It is PTRUNGLA.
What is the Premium Trust Bank BIC code?
The BIC is PTRUNGLA; SWIFT and BIC are commonly used interchangeably for this international identifier.
What is PTRUNGLAXXX?
It is the eleven-character head-office form of the Premium Trust Bank BIC.
Can I receive money from abroad with Premium Trust Bank?
International payments can be made using appropriate banking arrangements, subject to the bank’s current requirements and applicable payment and compliance procedures.
Do I need the SWIFT code for a local transfer?
Normally, no. Domestic Nigerian transfers use local banking identifiers.
Conclusion
The Premium Trust Bank SWIFT/BIC is PTRUNGLA, with PTRUNGLAXXX serving as the eleven-character head-office form. For an international transfer, pair the BIC with the correct beneficiary account information and follow the bank’s current instructions for the particular currency and payment route.