In global financial transactions, SWIFT/BIC codes serve as critical financial messengers, ensuring the swift and secure movement of funds across borders. For those conducting international transfers through Banque Misr, understanding the correct usage of its SWIFT code is paramount.
Identifying Banque Misr's SWIFT Code
The SWIFT code for Banque Misr is BMISEGCXTBO . This unique identifier not only confirms the bank's identity but also serves as a vital credential for international transactions. The bank is headquartered at 153 Mohamed Farid Street, Banque Misr Tower, Cairo, Egypt, with postal code 11511.
When initiating an international transfer, it's crucial to provide the complete banking details including the accurate SWIFT code, physical address, and correct city and country information. Any discrepancies in these details may cause unnecessary delays or failed transactions.
Verification and Security Measures
Financial institutions periodically review and update their SWIFT codes. Therefore, verifying the current code before each transaction is strongly recommended. Since 2019, there has been a notable increase in international transfer errors, with many resulting from incorrect SWIFT code usage.
The consequences of such errors can range from temporary fund holds to complete transaction failures. By ensuring the accuracy of the SWIFT code and accompanying banking information, senders can significantly reduce the risk of transfer complications.
Best Practices for International Transfers
For seamless transactions through Banque Misr, consider these guidelines:
• Double-check the SWIFT code BMISEGCXTBO against the recipient bank's official records
• Confirm the complete bank address in Cairo
• Verify the recipient's account details separately from the SWIFT information
These precautions help maintain the security and efficiency of cross-border financial operations. While the SWIFT system provides a reliable framework for international banking, the responsibility for accurate information ultimately lies with the initiating party.