In an increasingly globalized world, cross-border money transfers have become an essential part of modern life. Whether supporting family members abroad or conducting international business transactions, understanding how to safely and efficiently transfer funds to designated accounts has never been more important. The proper use of SWIFT/BIC codes, particularly those specific to recipient banks, plays a crucial role in facilitating these transactions.
For those transferring funds to EXIMBANK (Tanzania) LTD, using the correct SWIFT/BIC code— EXTNTZTZTFD —ensures timely delivery while enhancing transaction security and reliability. Headquartered in Dar es Salaam at 9 Samora Avenue, EXIMBANK has established itself as a key financial institution supporting Tanzania's economic development, serving both individuals and businesses with professional banking services.
SWIFT codes, also known as Bank Identifier Codes (BIC), consist of 8 to 11 alphanumeric characters that uniquely identify financial institutions worldwide. These codes enable efficient fund transfers between banks across international borders by clearly specifying the recipient institution. The code structure identifies the bank, country, location, and sometimes the specific branch involved in the transaction.
While SWIFT/BIC codes are fundamental to international transfers, they represent just one component of successful transactions. Accuracy in all recipient details—including account holder names, account numbers, and bank branch information—remains equally critical. Even minor discrepancies, such as spelling variations in account names, can lead to delays, returns, or failed transactions. Financial institutions recommend verifying all information before initiating transfers.
International money transfers also require awareness of destination-country regulations, including potential fees, taxes, and processing requirements that vary across jurisdictions. Understanding these factors in advance helps prevent unexpected complications. Banking professionals can provide guidance when questions arise about specific transfer processes or documentation needs.
The digital transformation of banking services has simplified international money transfers through mobile and online platforms. These channels allow users to initiate transactions conveniently while maintaining security protocols. First-time users can typically complete transfers by following step-by-step interfaces that prompt for required information, including SWIFT/BIC codes.
Regardless of the transfer method selected, transaction security remains paramount. Verifying recipient details, confirming the correspondence between SWIFT/BIC codes and destination banks, and reviewing transaction records after completion all contribute to successful transfers. Financial institutions maintain customer service teams to address any concerns that may emerge during the process.
Cross-border payments continue growing in importance for education, employment, commerce, and personal support networks worldwide. Understanding SWIFT/BIC code functionality equips users with essential knowledge for navigating international finance systems efficiently. For transactions involving EXIMBANK Tanzania, proper use of code EXTNTZTZTFD helps ensure funds reach their intended destination while contributing to the nation's economic connectivity.