Have you ever experienced delays or errors when sending money abroad? If so, the issue may stem from incorrect usage of SWIFT/BIC codes. These codes act as unique identifiers for international transfers, playing a critical role in ensuring secure and accurate transactions. This article explores ALLIED Bank's SWIFT/BIC code structure to help you navigate cross-border payments with confidence.
Understanding ALLIED Bank's SWIFT/BIC Code
ALLIED Bank's SWIFT/BIC code consists of 8 to 11 characters, structured as follows:
- Bank code (ABPA): Identifies ALLIED BANK LIMITED
- Country code (PK): Indicates Pakistan as the bank's location
- Location code (KA): Specifies the bank's physical address
- Branch code (RDA): Identifies specific branches (XXX denotes headquarters)
Key Verification Steps for Error-Free Transfers
When initiating international transfers, meticulous verification of SWIFT/BIC details prevents potential issues:
- Confirm bank information: Ensure the recipient bank name exactly matches the SWIFT/BIC code to avoid misdirected payments.
- Verify country details: As global banks operate across jurisdictions, validate that the code corresponds to the intended destination country.
While digital banking has simplified global transactions, accuracy remains paramount. Overlooking these verification steps may result in failed transfers, unnecessary delays, and additional costs. Thorough confirmation before every transaction safeguards your funds and ensures seamless processing.