International wire transfers often present challenges, with the accuracy of SWIFT/BIC codes being a pivotal factor. For instance, DHAKA BANK PLC’s SWIFT/BIC code— DHBLBDDH109 —contains essential details that ensure seamless transactions. Each segment of this alphanumeric sequence holds specific information critical to successful fund transfers.
Decoding the SWIFT/BIC Structure
Breaking down the components of a SWIFT code reveals its systematic design:
- Bank Code (DHBL) : The first four letters identify the financial institution, in this case, DHAKA BANK PLC.
- Country Code (BD) : The subsequent two letters denote the bank’s location, here representing Bangladesh.
- Location Code (DH) : These two characters specify the bank’s city or regional headquarters.
- Branch Code (109) : The final three digits pinpoint a specific branch. A terminal "XXX" indicates the bank’s primary office.
Ensuring Error-Free Transfers
To avoid delays or misdirected funds, adhere to these verification steps:
- Bank Name Consistency : Cross-check the recipient bank’s name against official records.
- Branch-Specific Details : If using a branch-specific SWIFT code, confirm it matches the recipient’s branch.
- Country Alignment : Verify that the country code corresponds to the recipient bank’s jurisdiction, especially for global institutions with multiple branches.
Precision in SWIFT/BIC code usage is non-negotiable for secure and efficient international transactions. Meticulous attention to these details safeguards against disruptions, ensuring your funds reach their intended destination without complications.