Taiwan Cooperative Bank SWIFT Code Eases Global Transfers

This article provides a detailed explanation of the SWIFT/BIC code for Taiwan Cooperative Bank, including its composition and important usage considerations. It also highlights the advantages of using the Xe platform for international remittances to ensure a smooth transaction process.
Taiwan Cooperative Bank SWIFT Code Eases Global Transfers

When conducting international wire transfers, the precise use of SWIFT/BIC codes is critical. If you are using Taiwan Cooperative Bank Ltd. as your intermediary or recipient bank, understanding its SWIFT/BIC code structure can help avoid potential delays or errors. This article provides a detailed breakdown of Taiwan Cooperative Bank's SWIFT/BIC code to ensure seamless global transactions.

Understanding SWIFT/BIC Codes

SWIFT/BIC codes, consisting of 8 to 11 characters, are unique identifiers assigned by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to specific banks and their branches. The SWIFT/BIC code for Taiwan Cooperative Bank is structured as follows:

  • Bank Code (TACB): 4 characters representing Taiwan Cooperative Bank.
  • Country Code (TW): 2 characters indicating the bank is located in Taiwan.
  • Location Code (TP): 2 characters specifying the bank's headquarters.
  • Branch Code (010): 3 digits identifying a specific branch. A code ending with "XXX" typically refers to the bank's head office.

For example, Taiwan Cooperative Bank's full SWIFT/BIC code is TACBTWTP010 , where the first 8 characters ( TACBTWTP ) identify the bank, and the last 3 ( 010 ) designate its main branch.

Key Details About Taiwan Cooperative Bank

Bank Name: Taiwan Cooperative Bank Ltd.

Address: 17 Jhengyi S. Rd, New Taipei

Essential Considerations When Using SWIFT/BIC Codes

To ensure successful international transfers, follow these guidelines:

  1. Verify the Bank Name: Confirm that the recipient's bank name matches the one provided in the SWIFT/BIC details to prevent misdirected transfers.
  2. Confirm Branch Information: If using a branch-specific SWIFT code, ensure the branch is the correct destination for the recipient.
  3. Check the Country Code: Since banks operate globally, verify that the SWIFT code's country aligns with the recipient bank's location.

Why Competitive Exchange Rates Matter

When sending money internationally, securing favorable exchange rates can significantly impact the value of your transfer. Comparing rates offered by traditional banks with specialized platforms may yield better deals, allowing you to maximize savings on each transaction.

By familiarizing yourself with Taiwan Cooperative Bank's SWIFT/BIC code and adhering to best practices, you can streamline cross-border payments and minimize errors. Whether for personal or business purposes, accuracy in wire transfers ensures efficient financial management.