When sending money internationally, have you ever faced delays or complications due to incorrect banking details? One crucial element often overlooked by senders is the proper use of SWIFT/BIC codes. Though these codes may appear complex, they play a vital role in ensuring seamless cross-border transactions, particularly when dealing with banks in Moldova. This article breaks down the SWIFT/BIC code for BC MOLDOVA - AGROINDBANK S.A. ( AGRNMD2XXXX ), explaining its structure and why accuracy matters.
Understanding the SWIFT/BIC Code Structure
A SWIFT/BIC code serves as the backbone of international banking transactions, typically consisting of 8 to 11 characters. These characters are divided into distinct segments:
- Bank Code (AGRN) : The first four letters uniquely identify the financial institution.
- Country Code (MD) : The next two letters denote the bank's country—in this case, Moldova.
- Location Code (2X) : The following two characters specify the bank’s headquarters location.
- Branch Code (XXX) : The final three characters indicate a specific branch. For AGROINDBANK, "XXX" designates the head office.
Thus, the complete SWIFT/BIC code for AGROINDBANK is AGRNMD2XXXX , where "XXX" confirms the transaction routes through the bank's main branch.
Key Details About AGROINDBANK
AGROINDBANK S.A. is headquartered in Chișinău, Moldova, at CONSTANTIN TANASE 9/1 . Recognized as a leading financial institution in the country, it offers a wide range of banking services that facilitate both domestic and international economic activities.
Why the Correct SWIFT Code Matters
Using the accurate SWIFT/BIC code is essential to prevent transaction delays or misrouted funds. Before initiating a transfer through AGROINDBANK, verify the following:
- Bank Name : Ensure the recipient’s bank name matches the details provided in the transfer.
- Branch Information : If sending funds to a specific branch, cross-check that the SWIFT code aligns with the recipient’s branch.
- Country Code : Confirm that the SWIFT code corresponds to a Moldovan-registered bank.
Precision in these details guarantees smooth transactions, minimizing unnecessary fees or processing hold-ups. For international transfers, mastering the use of SWIFT/BIC codes is not just a best practice—it’s a necessity for efficiency and security.