In international money transfers, have you ever experienced delays or issues due to incorrect bank codes? The SWIFT/BIC code serves as a critical identifier in global financial transactions, ensuring funds are transferred accurately and securely. Understanding the SWIFT/BIC code for Egypt's Central Bank can help prevent transfer complications.
SWIFT/BIC codes consist of 8 to 11 characters that identify specific banks and their branches. For the Central Bank of Egypt (CENTRAL BANK OF EGYPT CAIRO), the SWIFT code is CBEGEGCAASA .
Decoding the SWIFT/BIC Structure
- Bank Code (CBEG) : These 4 letters specifically identify the Central Bank of Egypt.
- Country Code (EG) : The 2-letter code designates Egypt as the bank's location.
- Location Code (CA) : Indicates the bank's headquarters in Cairo.
- Branch Code (ASA) : The final 3 characters specify particular branches, with "XXX" typically representing the main office.
Key Verification Steps for International Transfers
When conducting international transfers, using the correct SWIFT code is paramount. The primary identifier for the Central Bank is CBEGEGCA . To ensure successful transactions:
- Verify the Bank Name : Confirm the recipient bank's name matches exactly with the information provided.
- Check Branch Details : When using a specific branch's SWIFT code, ensure it corresponds to the recipient's actual branch.
- Confirm Destination Country : Some banks operate across multiple countries - verify the SWIFT code matches the transfer destination.
Following these verification steps helps prevent delays or failed transactions. Understanding and correctly applying the Central Bank of Egypt's SWIFT code ensures smooth international money transfers, providing security and efficiency in global financial operations.