When conducting international wire transfers, selecting the correct SWIFT/BIC code is a critical step. This article provides detailed information about the SWIFT code for BANK OF COMMERCE AND DEVELOPMENT (L.J.S.C.) to facilitate smooth financial transactions.
Bank Information and SWIFT Code
The official SWIFT code for BANK OF COMMERCE AND DEVELOPMENT (L.J.S.C.) is CDBLLYLT 015 . This code must be used precisely when sending or receiving international payments to ensure funds reach their intended destination without delays.
Headquartered in Benghazi, Libya, the bank's physical address is:
EL BERKA BUILDING, JAMAL ABDULNASER STREET
Understanding SWIFT Code Structure
SWIFT codes typically consist of 8 to 11 characters that convey essential information about the financial institution:
- First 4 characters (CDBL): Bank code
- Next 2 characters (LY): Country code (Libya)
- Following 2 characters (LT): Location code
- Optional last 3 characters (015): Branch identifier
Key Considerations for International Transfers
To ensure successful transactions, consider these important factors:
1. Verification of Details: Always confirm the complete banking information with the recipient, paying special attention to the accuracy of the SWIFT code. Even a single character error can result in failed transactions or returned funds.
2. Transfer Methods: The bank supports various transfer methods including wire transfers, which offer both speed and security for international transactions.
3. Double-Checking: Always verify all transaction details before submission. Cross-referencing with official bank sources can prevent potential issues.
By using BANK OF COMMERCE AND DEVELOPMENT (L.J.S.C.) for international transfers with the correct SWIFT code, customers can benefit from reliable and secure financial services.
Proper use of the SWIFT code CDBLLYLT 015 and thorough verification of all banking details significantly reduces the risk of transaction errors, ensuring efficient processing of international funds transfers.