When initiating an international wire transfer, confusion often arises regarding the correct SWIFT/BIC code. For clients conducting transactions with ARAB BANK PLC , the SWIFT code ARABPS22050 serves as a critical identifier to ensure seamless fund transfers.
Headquartered in Bethlehem, Palestine, at Manger Street, ARAB BANK PLC offers a range of financial services. The SWIFT code system plays a pivotal role in international banking by enabling financial institutions to accurately identify specific banks and their branches, thereby expediting cross-border transactions and enhancing security.
A standard SWIFT/BIC code comprises 8 to 11 characters, including the bank code, country code, location code, and optional branch code. This standardized format simplifies global transactions while minimizing errors. Verifying the accuracy of the SWIFT code before initiating any transfer is essential to avoid delays or misdirected funds.
Notably, ARAB BANK PLC may assign distinct SWIFT codes to different branches. Using an incorrect code could result in processing delays or failed transactions. For instance, the code ARABPS22050 directs funds to the intended account at ARAB BANK PLC. Clients are advised to confirm the latest SWIFT details through the bank’s official channels prior to initiating transfers.
In addition to the SWIFT code, successful international transfers require accurate recipient details, such as the beneficiary’s full name and account number. Cross-checking all information ensures timely and secure delivery of funds.
Understanding the function and correct usage of SWIFT codes is indispensable for clients engaging in international transactions with ARAB BANK PLC. Proper verification safeguards against potential disruptions and guarantees the efficient execution of cross-border payments.