When conducting cross-border financial transactions, ensuring the accuracy of SWIFT/BIC codes is critical for fund security. These 8- to 11-character alphanumeric identifiers facilitate efficient global money transfers. But what does the specific code MOLDMD2XXXX represent?
Breaking Down the SWIFT Code
The code MOLDMD2XXXX can be dissected as follows:
- First 4 characters (MOLD) : The bank code for MOLDINDCONBANK.
- Next 2 characters (MD) : The country code for Moldova.
- Following 2 characters (2X) : The location code indicating the bank's headquarters.
- Last 3 characters (XXX) : The branch code, which defaults to the main office if unspecified.
The complete SWIFT/BIC code for MOLDINDCONBANK is MOLDMD2XXXX , with the primary identifier MOLDMD2X . The bank is headquartered in Chișinău, Moldova, at Armeneasca 38.
Essential Verification Steps for International Transfers
To prevent delays or misdirected funds, adhere to these precautions when using SWIFT codes:
- Bank Name Verification : Confirm the recipient bank's name matches the SWIFT code entered.
- Branch Specificity : If using a branch-specific code, ensure alignment with the target branch details.
- Country Validation : Verify that the SWIFT code corresponds to Moldova, the recipient nation.
Accurate SWIFT codes not only safeguard transactions but also enhance processing efficiency, particularly for cross-border payments.