In today's globalized financial markets, the correct use of SWIFT/BIC codes is crucial, particularly when conducting international wire transfers. The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code serves as a unique identifier that precisely determines specific banks and their branches. This article provides an in-depth examination of MUTUAL TRUST BANK PLC.'s SWIFT code—MTBLBDDHBBB—to help ensure your funds reach their intended destination safely and accurately.
MUTUAL TRUST BANK PLC.'s SWIFT Code
MUTUAL TRUST BANK PLC. operates with the SWIFT code MTBLBDDHBBB. The bank is headquartered in Dhaka, Bangladesh, with its physical address at: BABU BAZAR, FLOOR 1, 15 ARMENIAN STREET, AMAN COURT, ARMANITOLA, DHAKA, DHAKA, 1100. Understanding the correct SWIFT code is fundamental for international transactions, as it guarantees smooth fund transfers.
When to Use MTBLBDDHBBB
During cross-border transactions, it's essential to verify that funds are directed to the correct bank and branch. When transferring money to MUTUAL TRUST BANK PLC., always use the SWIFT code MTBLBDDHBBB to prevent delays or misrouting. Before initiating any transfer, double-check the recipient bank's SWIFT code to ensure accuracy.
Structure and Meaning of the SWIFT Code
SWIFT/BIC codes typically consist of 8 to 11 characters, each segment representing specific information about the bank, country, and branch. The structure of MTBLBDDHBBB breaks down as follows:
- MTBL : The bank code for MUTUAL TRUST BANK.
- BD : The country code for Bangladesh.
- DH : The location code for Dhaka.
- BBB : The branch-specific identifier.
Understanding this structure helps users recognize how SWIFT codes function, ensuring compliance in international banking operations.
Verifying SWIFT Code Accuracy
Before processing a transaction, confirm the validity of the SWIFT code using these steps:
- Verify the Bank Name : Ensure the recipient is indeed MUTUAL TRUST BANK PLC. to avoid misdirected transfers.
- Check Branch Details : If the transaction requires a specific branch, confirm that the SWIFT code corresponds to the correct location.
- Validate Country Information : Since SWIFT codes include country identifiers, ensure the code matches the recipient bank's registered nation.
Key Considerations When Using SWIFT Codes
- Stay Updated : Monitor any changes to MUTUAL TRUST BANK PLC.'s SWIFT code to avoid complications from outdated information.
- Use Official Sources : Refer to the bank's official website or verified financial databases to confirm the SWIFT code.
- Seek Professional Advice : If uncertain, consult the bank's customer service or a financial advisor to ensure secure and compliant transactions.
Conclusion
Accurate use of SWIFT codes is indispensable for successful international fund transfers. By understanding MUTUAL TRUST BANK PLC.'s SWIFT code (MTBLBDDHBBB) and verifying its correctness, individuals and businesses can mitigate risks and facilitate seamless transactions. Whether for personal remittances or commercial dealings, proper SWIFT code usage remains a critical step in global finance.