In international banking, the accuracy of SWIFT/BIC codes is critical. A single error can lead to delayed or failed transactions, causing unnecessary complications for both senders and recipients. This article examines the SWIFT/BIC code DBBLBDDH105 for DUTCH-BANGLA BANK PLC., highlighting its structure, significance, and best practices for seamless cross-border transfers.
Understanding the SWIFT/BIC Code: DBBLBDDH105
DUTCH-BANGLA BANK PLC., headquartered in Dhaka, Bangladesh, operates with the dedicated SWIFT/BIC code DBBLBDDH105 . This unique identifier ensures that funds are routed correctly to the intended account, minimizing the risk of financial losses due to incorrect information. The code is structured as follows:
- DBBL – The bank code, representing DUTCH-BANGLA BANK PLC.
- BD – The country code, indicating Bangladesh.
- DH – The location code, specifying the bank’s headquarters in Dhaka.
- 105 – The branch code, identifying a specific branch. If the branch code ends with "XXX," it typically refers to the bank’s primary office.
Potential Risks of Incorrect SWIFT/BIC Codes
Using an inaccurate SWIFT/BIC code can result in multiple issues, including:
- Delayed or misrouted payments
- Rejection by the recipient bank
- Forced return of funds to the sender, often with additional fees
Best Practices for Secure International Transfers
To ensure smooth transactions, verify the following details before initiating an international transfer:
- Bank Name: Confirm that the recipient’s bank name matches exactly with the registered institution.
- Branch Information: If using a branch-specific SWIFT code, ensure it corresponds to the recipient’s branch.
- Country Accuracy: Double-check that the SWIFT code’s country designation aligns with the recipient bank’s location.
By using the correct SWIFT/BIC code ( DBBLBDDH105 for DUTCH-BANGLA BANK PLC.), senders can significantly reduce errors and expedite fund transfers. When in doubt, consulting the bank directly for verification enhances transaction security and efficiency.
Properly identifying and applying the right SWIFT/BIC code is the first step toward safeguarding financial transactions in international banking.