In modern banking operations, ensuring the accurate delivery of international transfers requires careful attention to detail. When sending funds to international banks such as The Bank of Punjab, correct usage of SWIFT codes becomes paramount.
Understanding SWIFT Codes
A SWIFT code, also known as a Bank Identifier Code (BIC), is a standardized identification system established by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to facilitate secure and accurate cross-border transactions. This alphanumeric code contains specific information about the financial institution.
The structure of a SWIFT code follows a precise format: the first four characters identify the bank, the next two represent the country, followed by two characters specifying the city, with optional additional digits for branch identification.
The Bank of Punjab's SWIFT Code
For transactions involving The Bank of Punjab, the required SWIFT code is BPUNPKKA 024 . This code breaks down as follows:
- BPUN : Identifies The Bank of Punjab
- PK : Indicates Pakistan as the country
- KA : Specifies Lahore as the city
- 024 : Serves as an internal identifier for precise fund routing
Bank Address Information
Complete and accurate banking details are essential for international transactions. The Bank of Punjab's complete address information includes:
- Bank Name : The Bank of Punjab
- City : Lahore
- Address : The Mall, Mall View Plaza, Bank Square, Lahore, Punjab, 54000
- Country : Pakistan
Key Considerations for International Transfers
When initiating international bank transfers, financial institutions recommend following these essential steps:
- Verify all recipient account details, including the correct SWIFT code, bank name, and address
- Double-check the transfer amount and currency specifications
- Utilize established banking channels for transaction security
- Maintain communication with your financial institution to clarify any uncertainties
Proper understanding of SWIFT codes and international banking procedures enables smoother cross-border financial transactions. Whether processing personal remittances or commercial payments, accuracy in banking information remains the foundation for successful fund transfers.