RMB Private Bank Branch Code

RMB Private Bank Branch Code

Rand Merchant Bank (RMB) is a leading African Corporate and investment bank that has an extensive footprint across more than 35 countries across the African continent.

Founded by Paul Harris, Laurie Dippenaar and GT Ferreira in 1977, RMB has operations in countries such as Angola, Botswana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, South Africa, Swaziland, Tanzania, Zambia, United Arab Emirates, United Kingdom, China, India, Australia and also in North America.

Branches in South Africa are located in Johannesburg, Cape Town, Durban and Port Elizabeth.

The institution employs over 3200 employees, who help the bank with its numerous operations which include a key focus on areas such as wealth and legacy management for RMB Private Bank.

The bank offers clients an innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions.

In South Africa, you can choose from banking institutions that have individual codes for every branch, or those that use a universal branch code. Rand Merchant Bank uses a Universal Branch code, which is 261251.

Internet banking is becoming a mainstream activity in South Africa. Statistics show that 14 million banked people have access to the internet, while 2.3 million actively make use of internet banking.

74% of South African internet users use computers for online payments while 32% use smartphones.

The Universal RMB Branch Code can be used when individuals are transacting online, whereby the transfer of funds requires an individual to enter the branch code.

Various banks have branch codes that are specific to them. These codes serve as an identity code that is used in financial transfers. The most basic use of the Universal RMB Branch Code is to ensure that funds are transferred to the right bank.