When conducting international fund transfers, knowing a bank's SWIFT/BIC code is essential. For instance, the Spanish bank BANCO DE SABADELL, S.A. uses the SWIFT/BIC code BSABESBB DIN . This code is not just a transactional detail but a critical identifier for the bank's legitimacy and location.
Decoding SWIFT/BIC
SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, provides secure and efficient communication services for banks and financial institutions. The BIC (Bank Identifier Code), a subset of SWIFT, ensures each institution is uniquely identified. The breakdown of BANCO DE SABADELL's code is as follows:
- BSAB – Bank code for BANCO DE SABADELL, S.A.
- ES – Country code (Spain).
- BB – Location code (specific to the bank's headquarters).
- DIN – Branch identifier ("XXX" denotes the primary office).
Bank Profile: BANCO DE SABADELL, S.A.
Founded in 1881, BANCO DE SABADELL, S.A. is headquartered in Sant Cugat del Vallès, Barcelona, Spain. Its registered address is C/SENA 12, Sant Cugat del Vallès, Barcelona, 08174, Spain . As one of Spain's leading financial institutions, it offers diverse services, including retail banking, corporate banking, and private banking.
Why SWIFT/BIC Codes Matter
In cross-border transactions, accurate SWIFT/BIC codes prevent delays, extra fees, or lost funds. The SWIFT network has become indispensable in global finance, streamlining international payments while enhancing security and efficiency. As financial globalization accelerates, verifying a bank's SWIFT/BIC code is now a prerequisite for secure transactions.
Conclusion
Understanding SWIFT/BIC codes empowers both financial professionals and consumers in international banking. Verifying these codes before initiating transfers ensures smoother and safer transactions. Note that SWIFT/BIC details may change over time, so periodic verification is advised to maintain accuracy.