In today's globalized economy, cross-border transactions and fund transfers have become increasingly common. For individuals and businesses engaging in international payments, understanding SWIFT codes is essential to ensure smooth transactions. This article provides detailed information about City Bank Bangladesh's SWIFT codes and offers practical guidance for international transfers.
Locating City Bank Bangladesh's SWIFT Codes
City Bank Bangladesh, one of the country's leading commercial banks, maintains multiple branches with distinct SWIFT codes. Below is a reference table to help customers identify the correct code for their transactions:
| SWIFT Code | Branch Address |
|---|---|
| CIBLBDDHOBU | City Bank Center, 28 Gulshan Avenue, Gulshan-1, Dhaka, Dhaka, 1212 |
| CIBLBDDHXXX | City Bank Center, 28 Gulshan Avenue, Gulshan-1, Dhaka, Dhaka, 1212 |
What If Your Branch Isn't Listed?
Customers who cannot find their specific branch information can still process international transactions using the bank's primary SWIFT code. While this may route funds through the bank's central processing system, the funds will ultimately be credited to the correct account.
Understanding International Transfers
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) network serves as the backbone of international banking transactions. Each participating financial institution receives a unique SWIFT code that functions like a bank's international identification number. This system enables secure transmission of payment instructions across borders, including details about currency, amount, and beneficiary information.
The Transfer Process
When initiating an international transfer through City Bank Bangladesh, customers should follow these steps:
- Verify the recipient's SWIFT code and account details
- Complete the bank's international transfer application form
- Deposit the transfer amount plus applicable fees
- Review all transaction details for accuracy
- Submit the request and retain the transaction receipt
Security Considerations
City Bank Bangladesh implements robust security measures to protect international transactions. Customers should always verify recipient details before initiating transfers and be aware of potential fraud risks associated with cross-border payments.
Important Transaction Factors
Several variables can affect international money transfers:
- Transfer fees: Costs vary by transaction size and destination
- Exchange rates: Currency conversion rates impact the final amount received
- Processing time: Transfers typically complete within 1-5 business days
Frequently Asked Questions
What exactly is a SWIFT code?
A SWIFT code (or BIC) is an 8-11 character identifier assigned to financial institutions for international transactions. It ensures funds reach the correct bank during cross-border transfers.
How can I verify City Bank's current SWIFT codes?
The most accurate SWIFT information comes directly from the bank through official channels such as its website or customer service representatives.
Why do international transfers take several days?
Processing times account for time zone differences, intermediary bank requirements, and compliance checks required for cross-border transactions.
Understanding these international banking fundamentals enables customers to conduct global transactions efficiently. City Bank Bangladesh's established infrastructure and professional services provide reliable support for international financial activities.