In the global financial landscape, SWIFT/BIC codes serve as indispensable identifiers for financial institutions worldwide. For instance, DUTCH-BANGLA BANK PLC operates under the SWIFT/BIC code DBBLBDDH109 , an 8- to 11-character alphanumeric sequence that ensures precise communication between banks.
Decoding the SWIFT/BIC Structure
The code DBBLBDDH109 can be broken down into distinct components:
- DBBL represents the bank's unique identifier (DUTCH-BANGLA BANK PLC).
- BD denotes the country code (Bangladesh).
- DH specifies the location of the bank’s headquarters.
- 109 identifies a specific branch, while codes ending in XXX typically refer to the bank’s primary office.
Accuracy in using SWIFT/BIC codes is paramount to avoid delays or errors in international transactions.
Key Verification Steps for Cross-Border Transfers
When initiating a transfer, consider the following:
- Bank Name: Confirm the recipient’s bank name matches exactly.
- Branch Specificity: If using a branch-specific code, verify the recipient’s account is held at that branch.
- Country Alignment: Ensure the SWIFT code’s country corresponds to the transfer destination.
Mastering the use of SWIFT/BIC codes facilitates seamless fund transfers and enhances the reliability of global financial operations.