When transfering cash from a UK bank to my local bank in Singapore, they ask me to enter my COT code: what is meant by a COT Code?
If your bank has asked you for a COT code, your bank ought to be able to explain what it is. Here in the U.S., it appears to be something unique to transactions between non-U.S. banks, but this term is not used by banks in the United States, so we aren't familiar with the term.
A lot of the fraudulent emails targeting U.S. email users refer to COT codes when attempting to convince the targets to wire funds. Boiling all that down, you should ask your bank if it throws a term at you that you don't understand.
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If your bank has asked you for a COT code, your bank ought to be able to explain what it is. Here in the U.S., it appears to be something unique to transactions between non-U.S. banks, but this term is not used by banks in the United States, so we aren't familiar with the term.
A lot of the fraudulent emails targeting U.S. email users refer to COT codes when attempting to convince the targets to wire funds. Boiling all that down, you should ask your bank if it throws a term at you that you don't understand.
