When sending money internationally, ensuring the correct SWIFT/BIC code is used is critical. This unique identifier facilitates accurate transactions between banks worldwide. Below, we break down the structure and significance of the SWIFT/BIC code for ARAB BANK PLC.
The SWIFT/BIC Code for ARAB BANK PLC
ARAB BANK PLC's SWIFT/BIC code is ARABPS22090 . This 8-11 character code ensures precise identification of financial institutions across borders. Here’s how it’s structured:
- Bank Code (ARAB) : The first four letters represent the bank’s name, ARAB BANK PLC.
- Country Code (PS) : The next two letters indicate the bank’s location in the Palestinian Territories.
- Location Code (22) : These two digits specify the bank’s headquarters.
- Branch Code (090) : The final three digits identify a specific branch. A branch code ending in "XXX" typically denotes the bank’s main office.
The full SWIFT code for ARAB BANK PLC is ARABPS22090 . The bank is headquartered at AL MASYOON in RAMALLAH.
Key Considerations for Using SWIFT/BIC Codes
To avoid delays or failed transactions, always verify the following details before initiating an international transfer:
- Confirm the Bank Name : Ensure the recipient’s bank matches the name associated with the SWIFT code.
- Check Branch Details : If using a branch-specific code, confirm that the recipient’s account is held at that branch.
- Verify the Country SWIFT codes are country-specific; cross-check that the code aligns with the recipient’s bank location.
Accurate SWIFT/BIC codes streamline cross-border transactions, enhancing both efficiency and security. By understanding their structure and importance, you can ensure seamless international money transfers.