When conducting international fund transfers, SWIFT/BIC codes play a crucial role in ensuring secure and efficient transactions. For those dealing with Dutch-Bangla Bank PLC, the correct SWIFT/BIC code is DBBLBDDH105. But what does this alphanumeric sequence actually represent, and how does it facilitate global banking operations?
Decoding DBBLBDDH105
The SWIFT/BIC code DBBLBDDH105 serves as Dutch-Bangla Bank PLC's unique identifier in the global financial network. This standardized code breaks down into distinct components:
- DBBL : The bank code specifically identifying Dutch-Bangla Bank PLC
- BD : The country code representing Bangladesh
- DH : The location code indicating Dhaka, the capital city
- 105 : An optional branch code providing additional specificity
Dutch-Bangla Bank PLC maintains its headquarters at Zerin Mansion, 55, Motijheel C/A, Dhaka, Dhaka, 1000. Using the precise SWIFT/BIC code DBBLBDDH105 guarantees that funds reach their intended destination securely and without unnecessary delays.
The International Transfer Process
When initiating an international transfer using SWIFT/BIC codes, the process typically follows these steps:
- The sender provides their bank with complete recipient details, including the beneficiary's name, address, account number, and the receiving bank's SWIFT/BIC code.
- The originating bank transmits the payment instructions through the secure SWIFT network to the recipient bank (in this case, identified by DBBLBDDH105).
- The receiving bank verifies the transaction details and credits the funds to the appropriate account.
This standardized system significantly reduces errors in cross-border transactions while maintaining transparency throughout the transfer process. The SWIFT network's robust security protocols help protect against fraud and ensure the integrity of international financial communications.
For individuals and businesses engaged in global commerce, understanding and correctly utilizing SWIFT/BIC codes represents a fundamental financial literacy skill. Proper use of these identifiers facilitates smoother international money movement, whether for personal remittances, business payments, or other cross-border financial transactions.