In today's rapidly evolving global financial landscape, the demand for cross-border money transfers continues to grow. However, many individuals remain unfamiliar with crucial banking identification codes like SWIFT/BIC codes, which play a vital role in securing international transactions.
The Importance of SWIFT/BIC Codes
SWIFT/BIC codes, typically consisting of 8 to 11 characters, serve as unique identifiers for banks and their branches worldwide. For ARAB BANK PLC (ARAB BANK PLC), the correct code is ARABJOAX102 . This alphanumeric sequence precisely identifies the bank's branch located at NUZHA ST, KARAK, KARAK, 17110, JORDAN.
Proper use of these codes significantly reduces the risk of errors during international money transfers. For businesses and individuals engaged in cross-border transactions, accurate SWIFT/BIC information ensures timely delivery of funds and helps prevent potential financial losses.
Essential Transfer Details
When initiating a transfer to ARAB BANK PLC, remember that the SWIFT code alone isn't sufficient. Complete transaction security requires additional accurate information including:
- The recipient's full bank account number
- The exact name of the account holder
- The complete bank branch address
Regular verification of banking details and staying informed about any updates from financial institutions form crucial components of effective fund management in international transactions.
Security Considerations
While SWIFT/BIC codes provide an essential layer of security, users should implement additional protective measures. Double-checking all transaction details before submission and maintaining records of transfer confirmations can help resolve any potential issues that may arise.
Financial institutions periodically update their systems and procedures. Account holders should remain vigilant for any communications from their banks regarding changes that might affect international transfers.
Understanding and correctly applying international banking codes represents a fundamental requirement for secure cross-border transactions. By using ARAB BANK PLC's designated SWIFT/BIC code ARABJOAX102 , customers add an important safeguard to their international money transfers, ensuring smoother and more reliable financial operations across borders.