In international money transfers, SWIFT/BIC codes play a crucial role by identifying the recipient bank and ensuring the security and accuracy of transactions. For instance, the SWIFT/BIC code for DHAKA BANK PLC. is DHBLBDDH103 . This code consists of four distinct components:
- Bank Code (DHBL): A four-letter identifier that specifies DHAKA BANK PLC.
- Country Code (BD): A two-letter code indicating the bank's location in Bangladesh.
- Location Code (DH): A two-letter designation for the bank's headquarters.
- Branch Code (103): A three-digit number identifying a specific branch. If the code ends with "XXX," it refers to the bank's head office.
Ensuring Accuracy in International Transfers
Using the correct SWIFT/BIC code is essential to avoid delays or failed transactions. Before initiating a transfer, verify the following details:
- Bank Name: Confirm that the recipient bank's name matches the intended institution to prevent transfer errors.
- Branch Information: If using a branch-specific SWIFT code, ensure it corresponds to the recipient's branch.
- Country Code: Since banks operate globally, the SWIFT code must align with the recipient bank's country.
For secure and efficient transfers, services like Xe provide reliable solutions, enabling users to send funds to DHAKA BANK PLC. with confidence. By using the correct SWIFT code— DHBLBDDH103 —transactions proceed smoothly, safeguarding funds throughout the process.
The Growing Importance of SWIFT/BIC Codes
As international business continues to expand, the need for accurate SWIFT/BIC codes has become increasingly evident. Whether for personal remittances or commercial transactions, precise information ensures a seamless and efficient payment experience.