Accepted KYC documents:

For the UK, USA, Canada, and countries in the Single Euro Payments Area: Valid passport (first & last page) or driver’s license (front & back).


For other countries: Valid passport (first & last page) If you do not have a valid passport, please write to us at contact@kolabtree.com.


Swift Code or BIC Code:

A SWIFT code is an international bank code that identifies particular banks worldwide. It’s also known as a Bank Identifier Code (BIC).A SWIFT code consists of 8 or 11 characters.  The code is made up of letters and numbers

Please note: When entering a SWIFT or BIC code do not enter spaces, hyphens or special characters.


Understanding the code:

A swift code consists of 8 or 11 characters, which is the standard format standardized by ISO (International Organization for Standardization).

Here is an example code: CHASUS33XXX. This swift code is for the head offices of “JPMORGAN CHASE BANK, N.A.” in the U.S.A. and can be broken down into four parts:

CHAS - US - 33 - XXX


First four characters: These 4 characters (“CHAS” in our example) identify the bank (“JP Morgan Chase”). This 4-letter code is used to identify this particular financial institution’s branches and divisions all over the world.

Fifth and sixth characters: These 2 characters identify the country in which the bank is located. “US” in this example means “UNITED STATES”.

Seventh and eighth characters: These 2 characters represent a location code (“33” in this example).

Last three characters: These 3 characters form the branch code. “XXX” is used to identify the HEAD OFFICE or the institution, but this particular branch code is optional, and if omitted, the 8-character remaining code (“CHASUS33” in our example) is assumed to refer to the head office (primary office) of the institution.


IBAN

IBAN stands for International Bank Account Number. It identifies an individual account, at a specific financial institution, in a particular country and is used to process financial transactions between institutions in different countries. Never try to create or guess an IBAN. The format differs from country to country. Always ask the person you are paying what their IBAN is. Your own IBAN is shown on your bank statement.

Understanding the IBAN


The IBAN can consist of digits and capital letters
The IBAN has the following structure:
2 characters – ISO country code (CZ for the Czech Republic)
2 characters – check digits allowing program control of the account number – protection for situations where the account number is entered incorrectly
max. 30 characters – bank code and account number
The IBAN has two formats – electronic format (without blanks) and written representation (with groups of 4 characters separated by blanks)


Please reach out to us via email at “contact@kolabtree.com” if the above does not answer your query.