XOF – West African CFA Franc
Concerned countries: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.
XOF is considered to be a restricted currency, which implies an inherent limitation to the tradability of this currency. Fund transfers in this currency are not allowed outside of the West African States.
- Currency Guidelines
Besides the standard information, it is important to note that the IBAN format is always recommended.
The beneficiary’s physical full address is recommended.
A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.
Example: Payment of travel expenses – invoice n° 123456789
It is recommended as well to provide the beneficiary’s telephone number in the remittance information.
This currency does not have any decimal places.
- Instructions, technical guidelines & more
To consult the Technical Guidelines of this currency, click hereTECHNICAL GUIDELINES
- Additional information
• Available charge options: OUR/SHA/BEN
• Central bank of West African States: http://www.bceao.int/