In the process of international money transfers, SWIFT/BIC codes play a pivotal role. Ensuring the correct use of these codes is essential—not only to guarantee the accurate transfer of funds but also to avoid potential delays and additional fees. This article provides a detailed breakdown of the SWIFT/BIC code structure for BANQUE MISR and highlights key considerations for seamless international financial transactions.
Decoding the SWIFT/BIC Structure
A SWIFT/BIC code is an 8 to 11-character alphanumeric combination used to uniquely identify banks and their branches worldwide. The code for BANQUE MISR can be analyzed as follows:
- Bank Code (BMIS): The first four letters represent the financial institution, in this case, BANQUE MISR.
- Country Code (EG): A two-letter code indicating the bank's location in Egypt.
- Location Code (CX): These two characters specify the city where the bank's headquarters is situated.
- Branch Code (TBO): The final three digits identify a specific branch. A code ending with "XXX" typically refers to the bank's head office.
Based on this structure, BANQUE MISR’s complete SWIFT/BIC code is: BMISEGCXTBO , where:
- Bank Code: BMIS
- Country Code: EG
- Location Code: CX
- Branch Code: TBO
Why SWIFT Codes Matter
An accurate SWIFT code is critical for the smooth execution of international transfers. To avoid errors, adhere to these guidelines:
- Verify Bank Details: Confirm the recipient’s bank name matches the SWIFT code precisely before initiating a transfer.
- Check Branch Specifics: Ensure the SWIFT code corresponds to the correct branch, if applicable.
- Confirm Country Accuracy: Banks often operate across multiple regions; double-check that the code aligns with the intended destination.
Key Details for BANQUE MISR
- SWIFT Code: BMISEGCX (if no branch is specified)
- Branch Name: BANQUE MISR
- Address: BANQUE MISR TOWER
- City: Cairo (CAIRO)
Before initiating any international transaction, verifying the SWIFT code and associated details is paramount to preventing errors or delays. Whether for personal remittances or corporate transactions, accuracy ensures efficiency and security. Proper preparation and validation are the cornerstones of successful cross-border financial operations.