When making international wire transfers, selecting the correct bank code can be challenging. Among the numerous SWIFT/BIC codes available, ARAB BANK PLC's code requires particular attention. These 8-to-11-character codes precisely identify banks and their branches worldwide. For instance, ARAB BANK PLC's SWIFT/BIC code is ARABPS22080 – not just a random combination of letters and numbers, but a crucial element ensuring successful fund transfers.
Let's examine the structure of this SWIFT/BIC code:
- Bank code (ARAB): The first four characters identify ARAB BANK PLC.
- Country code (PS): The following two letters indicate the bank's location in the Palestinian Territories.
- Location code (22): These two digits specify the bank's headquarters location.
- Branch code (080): The final three digits point to a specific branch.
When a SWIFT code ends with "XXX," this indicates the bank's head office code. In ARAB BANK PLC's case, the full SWIFT/BIC code is ARABPS22080, which can be simplified to ARABPS22 for identification purposes, with the branch number 080 referring to the QALQILYA location.
When initiating cross-border payments, accurate SWIFT code entry is essential. Consider these key points to avoid confusion and delays:
- Verify bank details: Always double-check that the bank name matches the recipient's financial institution.
- Confirm branch information: When using a specific branch's SWIFT code, ensure the branch name aligns with the recipient's records.
- Check country information: The destination country's banking details must correspond with the SWIFT code to minimize errors.
ARAB BANK PLC represents a reliable option for international money transfers. By understanding these banking identifiers and verification processes, senders can ensure their funds move as smoothly as running water across borders.