In today's globalized economy, cross-border money transfers have become increasingly common. Whether for paying international bills, supporting family members, or conducting business transactions, properly executing an international wire transfer involves numerous details and processes that require careful attention. Particularly when navigating complex banking systems and international financial regulations, using the correct SWIFT/BIC code becomes crucial. This article examines the DBBLBDDH103 SWIFT/BIC code in detail while providing practical advice for ensuring successful international transfers.
Understanding SWIFT/BIC Codes
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is an international banking communications network that enables secure and rapid fund transfers and information exchange between financial institutions. The SWIFT/BIC (Bank Identifier Code) serves as a unique identifier for specific bank locations worldwide. Each financial institution possesses a distinct SWIFT code that allows banks to accurately identify transaction counterparts across global networks.
A standard SWIFT code contains 8-11 characters with the following structure:
- First 4 characters: Bank code (identifying the financial institution)
- Next 2 characters: Country code (ISO 3166-1 alpha-2 standard)
- Following 2 characters: Location code
- Optional final 3 characters: Branch identifier
The code DBBLBDDH103 belongs to Dutch-Bangla Bank PLC, representing their branch in Dhaka, Bangladesh. Understanding such codes and their proper usage facilitates smoother international transactions.
About Dutch-Bangla Bank PLC
Established in 1996, Dutch-Bangla Bank PLC (DBBL) operates as a commercial bank headquartered at Block-B, 75 Kamal Ataturk Avenue, Banani, Dhaka 1213, Bangladesh. Recognized for innovative banking solutions and customer service, DBBL offers comprehensive financial services including personal banking, corporate banking, and investment banking.
The bank serves domestic clients while actively supporting international business operations in Bangladesh. This makes accurate SWIFT code usage particularly important for ensuring seamless cross-border transactions.
Why SWIFT Codes Matter
Correct SWIFT code implementation enhances international transfer security and efficiency for several reasons:
- Transaction Accuracy: Unique SWIFT identifiers prevent funds from being routed to incorrect institutions.
- Faster Processing: SWIFT-enabled transfers typically complete within hours rather than days.
- Enhanced Security: The network's robust encryption protocols safeguard against fraudulent activities.
Verifying SWIFT Codes
Before initiating transfers, confirm SWIFT code accuracy through these methods:
- Contact the recipient bank directly
- Check the bank's official website
- Use SWIFT's official verification tools
- Consult reputable financial databases
Pre-Transfer Considerations
Address these critical factors to prevent transfer delays:
- Verify the recipient bank's exact name and address
- Confirm branch-specific details if applicable
- Research applicable foreign exchange regulations
- Provide complete beneficiary account information
- Understand all associated transfer fees
Executing Transfers with DBBLBDDH103
When ready to transfer funds using DBBLBDDH103:
- Select your preferred transfer method (bank branch, online, or third-party service)
- Complete all required forms with accurate information
- Confirm the transfer amount and currency
- Retain transaction receipts for records
Understanding transfer timelines and required documentation remains equally important for successful transactions. In international banking, precise SWIFT/BIC code usage like DBBLBDDH103 serves as both a fundamental requirement and a security measure within global finance systems. By verifying codes and following these guidelines, individuals and businesses can execute cross-border transfers with confidence and efficiency.