VFD Microfinance Bank SWIFT Code: Does VBank Have a BIC in Nigeria?
VFD Microfinance Bank, widely associated with the VBank brand, is a Nigerian microfinance bank offering digital banking services. If you are looking for the VFD or VBank SWIFT code, the most important distinction is between VFD’s Nigerian domestic bank identifier and a genuine international BIC.
A publicly verified SWIFT/BIC for VFD Microfinance Bank has not been established from the current information reviewed. Consequently, a domestic VFD bank code should not be described as a SWIFT code.
Does VFD Microfinance Bank have a SWIFT code?
A publicly verified SWIFT/BIC has not been established from the current information reviewed.
VFD’s official website confirms that VFD Microfinance Bank operates under a CBN licence and is insured by the NDIC. Its current website also identifies the VBank brand as a trademark of VFD Microfinance Bank.
What is VBank?
VBank is the digital banking brand associated with VFD Microfinance Bank. The official VFD website identifies “V” and “VBank” as trademarks of VFD Microfinance Bank.
For international payments, however, the relevant institution is the legal financial institution, not simply the product or brand name.
Is VFD bank code the same as SWIFT?
No.
VFD Microfinance Bank appears in Nigerian payment documentation with domestic identifiers. For example, payment documentation lists a Nigerian bank code for VFD MFB. That domestic code is used for Nigerian naira payouts and transfers; it is not a SWIFT/BIC.
How to receive money from abroad into VBank
If someone outside Nigeria wants to send money to a VBank customer, the beneficiary should first ask VFD Microfinance Bank for the current international receiving instructions.
The bank should confirm whether a direct international wire is supported and, if not, whether another payment or remittance route is available.
Information the sender may need
- Beneficiary’s full name.
- VBank account details.
- Legal name of the receiving institution.
- Bank address.
- SWIFT/BIC if specifically provided.
- Correspondent bank details where applicable.
- Currency.
- Amount.
- Purpose of payment.
Why VBank’s digital nature matters
A digital banking experience does not determine whether the underlying institution has a SWIFT/BIC. International payment capability is an institutional and payment-network matter.
Therefore, the fact that VBank provides digital transfers, cards, savings and business accounts does not mean a SWIFT code can be inferred from its name.
What if an overseas bank requires a BIC?
Do not enter a guessed VFD or VBank code. Contact VFD Microfinance Bank and ask whether the payment can be received through another bank or payment provider.
The sender may need correspondent-bank information depending on the payment route and currency.
Domestic VFD transfers
VFD supports Nigerian transfers through domestic payment infrastructure. This is separate from international SWIFT messaging.
A Nigerian sender making a local naira transfer generally does not need a SWIFT code.
Common mistakes
- Calling VFD’s domestic bank code a SWIFT code.
- Using VBank as though it were a separate SWIFT participant.
- Inventing a BIC from VFD’s initials.
- Adding XXX to an unverified BIC.
- Assuming digital banking automatically means SWIFT access.
Frequently asked questions
What is VFD Microfinance Bank’s SWIFT code?
A publicly verified SWIFT/BIC has not been established from the current information reviewed.
Is VBank the same as VFD Microfinance Bank?
VBank is the digital banking brand associated with VFD Microfinance Bank.
Can I use VFD’s domestic bank code as SWIFT?
No. The domestic bank code is not a SWIFT/BIC.
How can I receive money from abroad?
Ask VFD Microfinance Bank for the current international receiving instructions before the transfer is initiated.