When conducting international bank transfers, delays or additional fees due to incorrect SWIFT/BIC codes can be a frustrating experience. Ensuring the accuracy of these codes is critical for the timely arrival of funds to the recipient’s bank. For instance, the SWIFT/BIC code MAOISMSM005 for BANCA DI SAN MARINO SPA adheres to international standards, facilitating seamless cross-border transactions.
Understanding SWIFT/BIC Codes
A SWIFT/BIC code consists of 8 to 11 characters, each segment containing vital information about the bank and its branch. In the case of BANCA DI SAN MARINO SPA , the code MAOISMSM005 breaks down as follows:
- First 4 letters (MAOI): Identify the bank ( BANCA DI SAN MARINO SPA ).
- Next 2 letters (SM): Represent the country code for San Marino.
- Following 2 letters (SM): Indicate the bank’s location.
- Last 3 digits (005): Specify the branch. A code ending with "XXX" typically denotes the bank’s headquarters.
The complete details for BANCA DI SAN MARINO SPA are:
- SWIFT Code: MAOISMSM005
- Bank Name: BANCA DI SAN MARINO SPA
- Address: VIA O. SCARITO, 68
- City: VALDRAGONE
Ensuring a Smooth Transaction
To minimize risks and avoid delays in international transfers, verifying the following details is essential:
- Bank Verification: Confirm that the recipient’s bank name matches the provided SWIFT/BIC code exactly.
- Branch Accuracy: If using a branch-specific code, ensure it corresponds to the recipient’s branch.
- Country Consistency: Verify that the SWIFT/BIC code aligns with the recipient bank’s country.
By meticulously reviewing these details, individuals and businesses can enhance the efficiency and security of their international transactions. Proper use of SWIFT/BIC codes is a fundamental step in safeguarding cross-border financial operations.