Have you ever felt confused when searching for the correct SWIFT/BIC code for an international money transfer? Using an incorrect code can lead to delays, affect the arrival time of your funds, or even result in inaccuracies in the transferred amount. This article provides a detailed breakdown of SYDBANK A/S's SWIFT/BIC code to ensure your international transactions proceed without issues.
What Is a SWIFT/BIC Code?
A SWIFT/BIC code is an 8 to 11-character international bank identifier used to recognize banks and their branches worldwide. For example, SYDBANK A/S's SWIFT/BIC code is SYBKDK22AA . By dissecting this code, we can better understand its structure:
- Bank Code (SYBK): The first four letters identify SYDBANK A/S, ensuring you reference the correct institution.
- Country Code (DK): The next two letters indicate the bank's location—Denmark—helping you verify the destination country.
- Location Code (22): This part specifies the bank's headquarters.
- Branch Code (AAR): The final three letters designate a specific branch (in this case, the AAR branch). If a SWIFT code ends with "XXX," it refers to the bank's head office.
Example: SYDBANK A/S SWIFT Details
SWIFT Code: SYBKDK22
Branch Code: AAR
Branch Name: SYDBANK A/S
Address: KYSTVEJEN 29
City: AARHUS
Why Accurate SWIFT Codes Matter
Using the correct SWIFT code is crucial for a successful transfer. To avoid complications or delays, always verify the following details before initiating a transaction:
- Bank Name: Ensure the recipient's bank name matches the provided SWIFT code.
- Branch Name: If using a specific branch code, confirm it aligns with the recipient's branch.
- Country: Verify that the SWIFT code corresponds to the correct country where the recipient's bank is located.
A thorough understanding of SWIFT/BIC codes can significantly improve the efficiency and success rate of international transfers. Attention to detail is key—always double-check the information to ensure seamless transactions.