When sending money internationally, the correct SWIFT/BIC code is essential for ensuring funds reach their destination safely and efficiently. Taking BANCO PICHINCHA C.A. as an example, its SWIFT/BIC code PICHECEQ102 contains vital identifying information about the financial institution.
SWIFT/BIC codes consist of 8 to 11 characters that uniquely identify banks and their branches worldwide. The code breaks down into distinct components: The first four characters "PICH" represent the bank code, specifically identifying BANCO PICHINCHA C.A. The following two characters "EC" denote the country code for Ecuador. The next two "EQ" form the location code indicating the bank's primary office, while the final three digits "102" specify a particular branch.
When a SWIFT/BIC code ends with "XXX" , this indicates the bank's headquarters. In BANCO PICHINCHA C.A.'s case, the current SWIFT code reveals its main office in Guayaquil, one of Ecuador's most significant cities.
Both individuals and businesses must exercise particular care when entering SWIFT codes during international transactions. An incorrect code may result in delayed transfers or even lost funds. Verifying the bank name, branch information, and country details remains crucial for successful transactions.
Modern transfer services can offer competitive exchange rates, lower fees, and faster processing times compared to traditional bank transfers. Understanding and properly utilizing SWIFT/BIC information helps ensure smooth international money movement while avoiding unnecessary complications and expenses.