Crédit Agricole is a French bank that is primarily known as a retail bank with specific focus on the rural areas of France. The bank happens to be an important part of the banking system in France, and as of now, it stands as the second largest retail banking institution in Europe. It has an enormous amount of influence in providing financing options to folks who are involved in agriculture. This is slightly different than other banks that are involved in a variety of financial services that range from investment banking to currency exchange transactions.
In today’s world it is impossible to say, from which part of the world, you will get customers from. If you are in France, there is no way to be sure that your customers and suppliers will be from France itself. That means you will be doing transactions over the border and that means, there is a need for a system that allows for banks from different countries to communicate with each other. Banking systems are mostly standardized, but this standardization only happens to banks that are within a particular country.
This need was identified by a group of people who eventually formed the SWIFT organization, which implemented an efficient BIC system. The SWIFT organization is tasked with two major responsibilities as far as its member banks are concerned. They maintain the master list of all the SWIFT codes and decide which bank gets what code. This is a tricky procedure because there are so many banks in this world and there are so many countries as well. This complicated job is made simple by SWIFT. In some ways, SWIFT is the ultimate implementation of BIC.
If you are a customer of this agriculture focused retail bank, then you should of course know the SWIFT code. The SWIFT code for Crédit Agricole is AGRIRERXSNL. This the code you would provide to that person who wants to do an international wire transfers to your bank account. Since this a matter of money that we are dealing with here, it is important that you verify this code with your bank before making this available to the other party.
If you are considering transfer of money to the other party, then you simply need to contact that person to provide you with the right SWIFT codes. Without the right codes in place, neither of you will be able to send any money to each other.