When initiating an international money transfer, locating the correct bank code can often be a source of confusion. The SWIFT/BIC code FAYSPKKA113 , belonging to FAYSAL BANK LIMITED, serves as a critical identifier for seamless cross-border transactions. A clear understanding of its structure ensures efficient and secure fund transfers.
Decoding the SWIFT/BIC Structure
The code FAYSPKKA113 comprises four distinct components:
- Bank Code (FAYS) : The first four letters uniquely identify FAYSAL BANK LIMITED.
- Country Code (PK) : The two-letter suffix confirms the bank’s location in Pakistan, directing funds to the correct jurisdiction.
- Location Code (KA) : This segment pinpoints the bank’s headquarters or primary operational base.
- Branch Code (113) : The final three digits specify the exact branch, enabling precise routing of transactions.
If a SWIFT/BIC code terminates with "XXX" , it indicates that funds are routed to the bank’s head office rather than a specific branch. Verifying the accuracy of this code is essential to prevent delays or failed transactions.
Key Verification Steps for Error-Free Transfers
To minimize risks during international remittances, consider the following precautions:
- Bank Name Consistency : Cross-check that the recipient’s bank name matches the SWIFT-registered institution without discrepancies.
- Branch Validation : If using a branch-specific code, confirm the recipient’s account is linked to that particular branch.
- Country Alignment : Ensure the SWIFT code’s country designation corresponds to the transfer’s destination.
Familiarity with SWIFT/BIC codes, such as FAYSAL BANK LIMITED’s FAYSPKKA113 , empowers users to execute international transfers with confidence, safeguarding against common pitfalls. Always consult up-to-date banking resources for the latest procedural guidelines.