In today's globalized financial landscape, international bank transfers have become a cornerstone of daily business transactions. Ensuring the correct use of a bank's SWIFT/BIC code is critical, especially when transferring funds to a specific recipient account. Do you know how to identify and apply ARAB BANK PLC's SWIFT/BIC code to guarantee seamless transactions?
Understanding ARAB BANK PLC's SWIFT/BIC Code
ARAB BANK PLC's SWIFT/BIC code is ARABJOAX111 . This unique identifier is essential for initiating international wire transfers. Headquartered in Amman, Jordan, the bank's address is King Faisal Street, Amman, 11185, Jordan . Using this code ensures that funds are routed accurately to the intended bank and branch.
The Role of SWIFT in International Transfers
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) network serves as the standard system for cross-border payments. Each financial institution is assigned a distinct SWIFT code, which includes specific identifiers to facilitate precise routing. For ARAB BANK PLC, the primary code ARABJOAX is supplemented by branch-specific details when necessary, ensuring faster and more accurate processing.
Key Considerations Before Initiating a Transfer
To minimize errors and delays, both the sender and recipient should verify the following details before proceeding with a transfer:
- The complete and correct SWIFT/BIC code (including branch identifiers if applicable).
- The recipient's account number and full name as registered with the bank.
- The bank's physical address and contact information.
Even minor discrepancies—such as a missing digit or misspelled name—can result in failed transactions or misdirected funds. Therefore, meticulous verification of all details is strongly advised.
Additional Requirements for Large or Special Transactions
For high-value transfers or transactions involving specialized financial products, additional steps may be required, such as:
- Enhanced identity verification.
- Documentation proving the source of funds.
- Compliance with specific banking regulations.
These requirements vary by institution, so understanding ARAB BANK PLC's policies is crucial for a smooth transaction process.
Final Recommendations
Using the correct SWIFT/BIC code is non-negotiable for successful international fund transfers. ARAB BANK PLC's code, ARABJOAX111 , is a critical component in ensuring that funds reach their intended destination without complications. Always double-check all banking details before initiating a transfer to avoid unnecessary delays or errors.