In an era of globalization, international money transfers have become a common necessity in daily life. Have you ever faced challenges ensuring your funds reach their intended destination securely? The use of SWIFT codes can significantly simplify this process. This article provides a detailed breakdown of the SWIFT/BIC code used by ARAB BANK PLC: ARABJOAX100 .
Key Details of ARAB BANK PLC's SWIFT Code
The SWIFT code for ARAB BANK PLC is ARABJOAX100 , with the following associated information:
- Bank Name : ARAB BANK PLC
- City : Amman
- Address : Shker Ben Zaid Street, Shmeisani, Amman, Postal Code: 11195
- Country : Jordan
The Importance of SWIFT Codes in International Transfers
When initiating an international transfer, verifying the correct SWIFT code is crucial. SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a standardized system for identifying banks globally. Each bank and its branches have a unique SWIFT/BIC code, typically consisting of 8 to 11 characters, which ensures funds are routed securely to the correct institution.
When using the code ARABJOAX100 , it is essential to confirm that accompanying details—such as the bank’s name, address, and city—are accurate. Discrepancies between the SWIFT code and the recipient bank’s information may result in delays or failed transactions. Cross-checking details before initiating a transfer is strongly advised.
Structure of a SWIFT Code
Understanding the composition of SWIFT codes can enhance confidence in international transactions. A typical SWIFT code follows this structure:
- First 4 letters : Bank code (identifies the specific bank).
- Next 2 letters : Country code (based on ISO 3166 standards).
- Next 2 characters : Location code (city or region).
- Final 3 characters (optional) : Branch code (identifies a specific branch).
Conclusion
For international transfers involving ARAB BANK PLC, the SWIFT code ARABJOAX100 is a critical tool to ensure funds reach their destination accurately. A thorough understanding of SWIFT/BIC codes not only streamlines the transfer process but also mitigates potential complications. In global financial transactions, correct usage of SWIFT codes is a fundamental requirement for seamless and secure fund transfers.