PremiumTrust Bank is one of Nigeria’s newest commercial banks, launched in 2022, offering technology driven retail, commercial and corporate banking.
This complete guide covers everything you need to know about banking internationally and locally with PremiumTrust Bank, including its SWIFT code position, how to receive money from abroad, its USSD code and mobile banking, how to open an account, its contact details, and a full profile of PremiumTrust Bank itself.
A SWIFT code, also called a BIC (Bank Identifier Code), is an internationally recognised code that identifies a bank during a cross border transfer. It is managed by SWIFT, the Society for Worldwide Interbank Financial Telecommunication, the global network banks use to send secure payment instructions to one another.
PremiumTrust Bank SWIFT Code
The SWIFT/BIC code for PremiumTrust Bank is PTRUNGLA. This single code is used for the bank right across Nigeria, so whatever branch or city your account belongs to, the same code, PTRUNGLA, is used to receive international transfers into it.
Most Nigerian banks, including PremiumTrust Bank, use a single SWIFT code for the whole bank rather than a different one for each branch. When an eleven character version is requested, the code is written as PTRUNGLAXXX, where the final XXX refers to the bank’s primary (head) office.
Bank
PremiumTrust Bank Limited
SWIFT/BIC code (8 characters)
PTRUNGLA
SWIFT/BIC code (11 characters)
PTRUNGLAXXX
Head office city
Lagos
What is a SWIFT/BIC Code?
A SWIFT code, or BIC, is a standard Bank Identifier Code used to identify banks around the world. It tells anyone sending money internationally exactly which bank, in which country and at which location should receive the funds, working much like the international postal address of a bank.
Every SWIFT code is either eight or eleven characters long. An eight character code, such as PTRUNGLA, refers to a bank’s head office, while an eleven character code adds a three character branch identifier at the end; when this is XXX, it still points to the head office. For PremiumTrust Bank, the eight character code is all you need to receive an international transfer.
PremiumTrust Bank SWIFT Code Explained
Each part of PTRUNGLA has a specific meaning, as shown in the table below.
Part
Code
Meaning
Bank code
PTRU
Identifies PremiumTrust Bank Limited
Country code
NG
Nigeria
Location code
LA
Lagos, where the head office is based
Branch code
XXX
Primary / head office (optional, only in the 11 character form)
How to Receive International Money into PremiumTrust Bank
To receive money from abroad into your PremiumTrust Bank account, give the sender the details below, and their bank will route the transfer through the SWIFT network.
Account holder’s name (exactly as on your account)
Account number (your ten digit PremiumTrust Bank account number)
Bank name: PremiumTrust Bank Limited
SWIFT/BIC code: PTRUNGLA
Bank address: Victoria Island, Lagos, Nigeria
Nigeria does not use the IBAN system, so if a sender’s form asks for an IBAN, leave it blank and provide the SWIFT code and account number instead. For foreign currencies such as dollars, pounds or euros, you will usually need a domiciliary account with PremiumTrust Bank. International transfers typically arrive within one to five working days, depending on the sending bank and any intermediary banks involved.
How to Send Money Abroad from PremiumTrust Bank
PremiumTrust Bank customers can also send money abroad, usually from a domiciliary account. To make an international transfer you provide the recipient’s bank details, including their bank’s SWIFT code, their account number or IBAN, their name and their bank’s address. Transfers can be arranged at a branch or, for eligible customers, through the bank’s digital channels.
International transfers from Nigeria are subject to the limits and documentation set by the Central Bank of Nigeria, and PremiumTrust Bank applies its own exchange rate and charges, so it is worth confirming the current details, limits and fees before sending a large amount.
PremiumTrust Bank Sort Codes and Branch Codes
A sort code is different from a SWIFT code. It is a nine digit number that identifies a specific PremiumTrust Bank branch for domestic transfers within Nigeria, such as NEFT and RTGS. Each branch has its own sort code.
Unlike the single SWIFT code, PremiumTrust Bank has many sort codes, one per branch. For everyday transfers through the app or internet banking you will not need to type one, but it may be requested for certain direct payments. You can obtain your branch’s sort code from the branch or from customer care.
About PremiumTrust Bank
Overview and History
PremiumTrust Bank received its commercial banking licence and began operations in 2022, making it one of the youngest banks in Nigeria, built around a modern, technology driven model.
The bank offers retail, commercial and corporate banking services and has focused on rapid, digital first growth since its launch.
Leadership
PremiumTrust Bank is based in Lagos, Nigeria, with its head office at Victoria Island, Lagos. It is led by its Managing Director and Chief Executive Officer, Emmanuel Emefienim.
Services
PremiumTrust Bank offers retail, commercial and corporate banking services, with an emphasis on digital banking, quick onboarding and support for businesses.
Digital Banking
PremiumTrust Bank is a strongly digital focused institution. Customers can bank through its mobile app and internet banking, along with internet banking where available, which together allow transfers, airtime and data purchases, bill payments and account management, in many cases even without an internet connection.
Size and Reach
PremiumTrust Bank serves its customers through a growing branch presence and digital channels, reflecting its position as a new, technology driven entrant to Nigerian banking.
PremiumTrust Bank Branches
PremiumTrust Bank has a branch network across Nigeria, with a presence in major commercial centres such as Lagos, Abuja and Port Harcourt, complemented by ATMs, agent banking and electronic channels. Because all branches share the same SWIFT code, PTRUNGLA, you can receive an international transfer regardless of which branch holds your account.
PremiumTrust Bank Contact and Customer Care
Head office
Victoria Island, Lagos, Nigeria
Customer care
Contact through premiumtrustbank.com
Email
info@premiumtrustbank.com
Website
premiumtrustbank.com
SWIFT/BIC
PTRUNGLA
Fees, Exchange Rates and Cheaper Alternatives
Whenever money is sent internationally, the cost is more than the visible fee. Banks and providers also apply an exchange rate when converting currencies, which can include a margin above the mid market rate, and on larger amounts this margin can cost more than the fee itself.
It is always worth comparing the total cost, not just the advertised fee. Specialist services such as Wise often use the mid market rate with a clear separate fee, while a domiciliary account with a commercial bank lets you receive and hold foreign currency directly. Comparing your options before you send or receive can save you money.
Quick Facts About PremiumTrust Bank
SWIFT/BIC code: PTRUNGLA (PTRUNGLAXXX in full)
Full name: PremiumTrust Bank Limited
Head office: Victoria Island, Lagos
Founded: 2022
Managing Director and Chief Executive Officer: Emmanuel Emefienim
Website: premiumtrustbank.com
Frequently Asked Questions
What is PremiumTrust Bank’s SWIFT code?
PremiumTrust Bank’s SWIFT/BIC code is PTRUNGLA, written in full as PTRUNGLAXXX.
Does PremiumTrust Bank have different SWIFT codes for different branches?
No. PremiumTrust Bank uses a single SWIFT code, PTRUNGLA, for all of its branches nationwide.
Is PremiumTrust Bank’s SWIFT code the same as its sort code?
No. The SWIFT code (PTRUNGLA) is for international transfers, while sort codes are nine digit numbers that identify individual branches for domestic transfers.
How do I receive money from abroad into my PremiumTrust Bank account?
Give the sender your account name and number, the bank name, the SWIFT code PTRUNGLA, and the bank’s address. Foreign currencies usually require a domiciliary account.
Does Nigeria use IBAN?
No. Nigeria does not use IBAN. Provide the SWIFT code and account number instead.
Summary
In summary, the SWIFT/BIC code for PremiumTrust Bank is PTRUNGLA (PTRUNGLAXXX in full), used for the whole bank across every branch. To receive money from abroad, provide this code with your account name and number, remembering that Nigeria does not use IBAN and foreign currencies usually need a domiciliary account.
SWIFT/BIC codes change when a bank restructures, merges, or opens new international operations, and some Nigerian institutions route international transfers through a correspondent bank rather than a code of their own. Before you send money, confirm the code directly with the bank, through its official app or customer care line, or by looking the institution up in the official SWIFT/BIC directory at swift.com. Sending to an incorrect or outdated SWIFT code can delay a transfer by days or route it to the wrong institution, and recovering misrouted funds is slow and sometimes costly. The details on this page are compiled from the bank’s own published information and the SWIFT registry.
