In international money transfers, SWIFT/BIC codes serve as a critical component for identifying financial institutions globally. These codes, typically composed of 8 to 11 characters, ensure the accurate routing of transactions between sender and recipient banks. For those conducting business with EXIMBANK (TANZANIA) LTD, the institution’s SWIFT/BIC code is EXTNTZTZXXX .
Breaking Down the SWIFT/BIC Code
The code EXTNTZTZXXX can be dissected as follows:
- Bank Code (EXTN) : The first four characters identify EXIMBANK (TANZANIA) LTD.
- Country Code (TZ) : The next two letters denote Tanzania as the bank’s location.
- Location Code (TZ) : These two characters specify the bank’s primary operational area.
- Branch Code (XXX) : The final three characters indicate a specific branch, with "XXX" typically referring to the bank’s head office.
Bank Details
Bank Name
: EXIMBANK (TANZANIA) LTD
Address
: 9 SAMORA AVENUE,
City
: DAR ES SALAAM
Ensuring Accurate Transfers
When initiating an international transfer, verifying the SWIFT/BIC code is essential to avoid delays or misrouted funds. Key steps include:
- Confirming the recipient bank’s name matches EXIMBANK (TANZANIA) LTD.
- Checking whether a specific branch code is required or if the head office code suffices.
- Ensuring the country code aligns with the recipient’s location.
Mistakes in SWIFT/BIC codes can lead to transaction failures or additional processing fees, making thorough verification a necessity for seamless cross-border payments.