In international wire transfers, the importance of SWIFT/BIC codes cannot be overstated. Have you ever experienced delays or failed transactions due to entering an incorrect code? Take BANCA DI SAN MARINO SPA as an example—its SWIFT/BIC code, MAOISMSM003 , must be used accurately to ensure a smooth transfer process.
Understanding the Structure of SWIFT/BIC Codes
SWIFT/BIC codes consist of 8 to 11 characters, typically divided into the following components:
- Bank Code (MAOI) : The first four letters identify the specific bank, in this case, BANCA DI SAN MARINO SPA.
- Country Code (SM) : The next two letters indicate the bank's location in San Marino.
- Location Code (SM) : These two characters specify the bank's headquarters.
- Branch Code (003) : The final three digits designate a particular branch. If the code ends with "XXX," it usually refers to the bank's main office.
Ensuring Accuracy for Successful Transfers
When initiating an international transfer to BANCA DI SAN MARINO SPA, verifying the SWIFT/BIC code is essential. Errors can lead to delays or even the complete failure of the transaction. To avoid complications, always double-check the bank's name, branch details, and corresponding country before submitting the transfer request.
Precision in using SWIFT/BIC codes guarantees that funds reach their intended destination securely and efficiently, minimizing unnecessary setbacks.