In today's rapidly evolving global economy, international bank transfers have become increasingly commonplace. Whether for purchasing goods, paying for services, or sending money to family and friends abroad, the demand for cross-border remittances continues to grow. However, many individuals encounter challenges when initiating international transfers, with one of the most critical being the accurate identification of bank branches and their corresponding SWIFT codes. This guide provides comprehensive information about City Bank Plc. in Bangladesh, including its branch details and SWIFT codes, to facilitate seamless international transactions.
Understanding SWIFT Codes
A SWIFT code (also known as a Bank Identifier Code or BIC) is a unique alphanumeric sequence used to identify specific financial institutions worldwide. Typically comprising 8 to 11 characters, the code's structure reveals important information: the first four characters represent the bank's name, followed by two letters indicating the country code, then two characters for the location code, and optionally three digits specifying a particular branch. Utilizing the correct SWIFT code ensures funds are transferred accurately and securely to the intended recipient.
About City Bank Bangladesh
Established in 1987, City Bank has grown to become one of Bangladesh's leading private commercial banks. Recognized for its innovative financial products and customer-centric services, the institution offers comprehensive banking solutions spanning personal accounts, corporate banking, and international financial services.
Locating City Bank's SWIFT Codes
When preparing an international transfer, verifying the correct SWIFT code is essential to prevent processing delays. City Bank maintains branches throughout Bangladesh, with some locations having unique identifiers. Consider these methods to obtain accurate SWIFT information:
- Official Website: City Bank's website provides complete service information, including branch-specific contact details and SWIFT codes within its international banking section.
- Customer Support: The bank's dedicated helpline can provide current SWIFT codes and verify branch information upon request.
- Digital Banking: Online banking platforms typically display required transfer information, including SWIFT codes, within the international remittance section.
- Financial Forums: While not official sources, some banking communities share verified SWIFT code information based on user experiences.
Primary Branches and Corresponding SWIFT Codes
Below are key City Bank branches and their associated SWIFT codes for international transfers:
- CIBLBDDHOBU: Corresponds to City Bank's Gulshan Center branch at 28 Gulshan Avenue, Gulshan 1, Dhaka 1212, offering comprehensive banking services.
- CIBLBDDHXXX: The primary SWIFT code for City Bank's headquarters, serving as the default identifier for international transfers when branch-specific codes are unavailable.
Executing an International Transfer
With the appropriate SWIFT code confirmed, follow these standard steps for international remittance:
- Select your transfer method (bank branch, online banking, or authorized remittance platforms).
- Complete the transfer form with sender details, recipient information (including account number and SWIFT code), amount, and currency.
- Verify and pay applicable transfer fees, which vary by amount, destination, and service provider.
- Submit the request and retain the transaction reference. Processing typically requires 1-5 business days, depending on intermediary banks and compliance checks.
Frequently Asked Questions
What if I cannot locate a branch-specific SWIFT code?
When uncertain, use the bank's primary SWIFT code (CIBLBDDHXXX). Financial institutions automatically route funds to the correct branch upon receipt, though confirming with the recipient's bank is advisable.
What precautions should I take during the transfer process?
Double-check all entered information, particularly the SWIFT code and beneficiary account details. Minor errors may cause significant delays or failed transactions. Always verify details with the recipient beforehand.
How long do international transfers typically take?
Processing times vary based on destination country regulations, currency exchange requirements, and intermediary bank procedures. While most transfers complete within 3 business days, some may extend to a week depending on these factors.
Conclusion
Successful international banking transactions rely on accurate financial institution identification through SWIFT codes. By understanding City Bank Bangladesh's branch network and proper code usage, senders can ensure efficient cross-border transfers while minimizing potential complications. Whether utilizing digital platforms or visiting physical branches, having verified banking information streamlines the remittance process for both personal and business needs.