In today's globalized economy, international money transfers have become an essential part of personal and business financial activities. Whether for commercial transactions, family support, or personal reasons, selecting the proper transfer method and ensuring secure transaction processes provide crucial peace of mind. However, one persistent challenge in international financial transactions remains the SWIFT/BIC code system—those seemingly cryptic alphanumeric combinations that can confuse even experienced users.
To simplify this process, we examine the SWIFT code for Faysal Bank Limited: FAYSPKKA118 . Understanding this code's structure and proper usage can help ensure seamless international transfers.
About Faysal Bank Limited
Established in 1987 with headquarters in Karachi, Faysal Bank Limited has grown into one of Pakistan's prominent financial institutions. The bank offers comprehensive services including personal banking, corporate banking, investment banking, and asset management. Its strong reputation and diverse product portfolio have made it a preferred choice for customers, particularly in international remittance services.
The Importance of SWIFT/BIC Codes
SWIFT (Society for Worldwide Interbank Financial Telecommunication) represents the global standard for financial messaging between institutions. The BIC (Bank Identifier Code) serves as a unique identifier for international banks, typically comprising 8-11 characters. Faysal Bank Limited's SWIFT code—FAYSPKKA118—contains specific elements identifying the bank, country, location, and branch details.
Key Verification Points for International Transfers
When initiating transfers through Faysal Bank Limited, several critical elements require verification:
- Bank Identification: Confirm the institution is Faysal Bank Limited, not similarly named alternatives.
- Branch Specification: The final three digits (118) designate specific branches—include this information when known.
- Country Verification: The "PK" component confirms Pakistan as the destination country.
Consulting with Faysal Bank Limited's customer service team before initiating transfers can prevent delays caused by incomplete or incorrect information.
How SWIFT Transfers Function
The SWIFT network operates as a secure messaging system for payment instructions between financial institutions. Each bank's unique SWIFT code ensures funds reach their intended destination. While SWIFT transactions generally offer high security for large transfers, users should maintain private internet connections and avoid public Wi-Fi when conducting financial operations.
Transaction Considerations
Transfer processing typically completes within 24 hours, though destination country policies may cause delays. Monitoring transfer progress and promptly addressing any irregularities helps ensure successful transactions. Additionally, understanding applicable fees and exchange rates allows for optimal financial planning—consult Faysal Bank Limited for current policies.
Proper SWIFT code usage, accurate bank information, and careful fee management contribute to successful international transfers. For cross-border payments—whether commercial transactions or personal remittances—Faysal Bank Limited provides reliable services to meet diverse financial needs.