When conducting international bank transfers, selecting the accurate SWIFT code is essential. This article provides details about the SWIFT code for ABANCA CORPORACION BANCARIA, S.A., a prominent financial institution based in Spain.
ABANCA CORPORACION BANCARIA, S.A. SWIFT Code Details
The SWIFT code for ABANCA CORPORACION BANCARIA, S.A. is:
- SWIFT Code: CAGLESMMBME
- Bank Name: ABANCA CORPORACION BANCARIA, S.A.
- City: Madrid
- Address: Paseo Recoletos 4, Madrid, 28001
- Country: Spain
Understanding SWIFT Code Structure
A SWIFT code typically consists of 8 to 11 alphanumeric characters. Breaking down ABANCA's code— CAGLESMMBME —reveals the following components:
- CAGL - Bank code (identifies ABANCA)
- ES - Country code (Spain)
- MM - Location code (primary office)
- BME - Optional branch identifier
Using the correct SWIFT code is critical for successful international fund transfers. An incorrect code may result in delays or misdirected payments. Always verify the SWIFT information before initiating any cross-border transaction.
The Role of the SWIFT Network
The SWIFT system serves as a global financial messaging network, facilitating secure and efficient international money transfers between banks. It forms the backbone of cross-border transactions, ensuring compliance and reducing risks associated with errors.
Maintaining up-to-date SWIFT code information is equally important, as banks may occasionally update their codes due to mergers, rebranding, or operational changes.
Why SWIFT Codes Matter
Beyond internal banking operations, SWIFT codes play a fundamental role in global finance. Proper understanding and application of these codes help prevent unnecessary complications, ensuring smooth financial transactions across borders.