In today's globalized and digitally connected world, cross-border remittances have become an integral part of personal and corporate financial activities. Whether for family support or international business transactions, the ability to transfer funds efficiently and securely across borders is paramount. Yet, many individuals remain unfamiliar with the intricacies of international wire transfers, particularly the critical role of SWIFT/BIC codes.
For those sending funds to Dutch-Bangla Bank PLC. in Bangladesh, correctly identifying and using the bank's SWIFT code is essential to ensure accurate delivery. As one of Bangladesh's prominent financial institutions, Dutch-Bangla Bank PLC. operates with the SWIFT code DBBLBDDH107 , which specifically identifies its primary branch in Dhaka within the global banking network.
What Is a SWIFT Code?
A SWIFT code (also known as a Bank Identifier Code or BIC) is an international standard for identifying financial institutions. Typically comprising 8 to 11 alphanumeric characters, this code serves as the foundation for global interbank communications and fund transfers. The structure includes:
- Bank code (4 letters): Identifies the specific institution (e.g., DBBL for Dutch-Bangla Bank PLC.).
- Country code (2 letters): Denotes the bank's registered nation (BD for Bangladesh).
- Location code (2 letters): Specifies the city or region (DH for Dhaka).
- Branch code (optional, 3 characters): Further pinpoints a specific branch (107 in this case).
For Dutch-Bangla Bank PLC., the full SWIFT code DBBLBDDH107 ensures precise routing of transactions. Always verify this code before initiating transfers to avoid delays or misdirected funds.
About Dutch-Bangla Bank PLC.
Established in 1996 and headquartered in Dhaka, Dutch-Bangla Bank PLC. has grown into one of Bangladesh's leading commercial banks. It offers a comprehensive range of financial services, including personal and corporate banking solutions, with a strong emphasis on international transactions. The bank's physical address is:
BSRS Building, Kawran Bazar, Dhaka 1215, Bangladesh.
The Cross-Border Transfer Process
International wire transfers typically follow these steps:
- Select a remittance provider: Choose a bank or financial institution with international transfer capabilities.
- Prepare recipient details: Gather the beneficiary's full name, account number, and the correct SWIFT code (DBBLBDDH107 for Dutch-Bangla Bank PLC.).
- Initiate the transfer: Submit the completed payment order with all verified information.
- Pay applicable fees: Transaction costs vary by institution and transfer amount.
- Obtain confirmation: Retain the transaction receipt and reference number for tracking.
Common Challenges and Solutions
While international transfers are generally reliable, users should be aware of potential issues:
- Exchange rate fluctuations: Monitor currency conversion rates to anticipate final received amounts.
- Transfer delays: Incorrect SWIFT codes or incomplete beneficiary details may cause processing bottlenecks.
- Hidden fees: Inquire about intermediary bank charges that might reduce the transferred amount.
Ensuring Transfer Security
To safeguard your international transactions:
- Double-check all recipient information, especially the SWIFT code
- Use established financial institutions with robust security protocols
- Monitor transfer status using provided reference numbers
- Remain vigilant against phishing attempts and fraudulent requests
Conclusion
As cross-border transactions become increasingly commonplace, understanding the mechanics of international transfers—particularly the proper use of SWIFT codes—is essential for both individuals and businesses. For transactions involving Dutch-Bangla Bank PLC., the accurate application of the DBBLBDDH107 code ensures smooth processing within the global financial network. By adhering to best practices and verifying all transaction details, senders can confidently execute secure and efficient international money transfers.