In today's globalized banking environment, international money transfers have become an essential tool for businesses and individuals connecting across borders. For those unfamiliar with the process, sending funds to an overseas bank can seem daunting. One critical element ensures your transaction proceeds smoothly and securely: the SWIFT code.
What Is a SWIFT/BIC Code?
The SWIFT/BIC (Bank Identifier Code) is a standardized international code used to identify financial institutions. Typically consisting of 8 to 11 characters, it functions like a bank's unique identifier in the vast global financial network. Without the correct SWIFT code, your funds may face delays or even fail to reach their intended destination. For transfers to Bank of Baroda (Kenya) Ltd. , the required SWIFT code is BARBKENAELD .
Bank of Baroda (Kenya) Ltd.: Key Details
To facilitate seamless transactions, here are the essential details for Bank of Baroda (Kenya) Ltd.:
- Bank Name: Bank of Baroda (Kenya) Ltd.
- City: Eldoret
- Address: Charotal Patel Building, Moi Street, Eldoret, Uasin Gishu, P.O. Box 30100
- Country: Kenya
Always verify that the SWIFT code is up to date before initiating a transfer, as outdated or incorrect information may compromise the transaction.
When to Use BARBKENAELD
Whether you're an individual or a business customer, BARBKENAELD must be used for all international transfers to Bank of Baroda (Kenya) Ltd. This code acts as a bridge, enabling financial institutions worldwide to accurately identify the recipient bank. Errors in the SWIFT code can lead to delays or lost funds, particularly in high-value transactions.
Critical Considerations
To avoid complications during the transfer process, follow these guidelines:
- Verify the Bank Name: Ensure the recipient bank's name matches the details provided in your transfer instructions.
- Confirm Branch Information: If using a branch-specific SWIFT code, double-check that it aligns with the recipient's branch.
- Check the Country: Given the sheer number of banks globally, confirming the correct country is essential.
Decoding the SWIFT/BIC Structure
Understanding the components of a SWIFT code can help demystify its purpose. The code is structured as follows:
- Bank Code (4 letters): Identifies the bank (e.g., BARB for Bank of Baroda).
- Country Code (2 letters): Indicates the bank's location (e.g., KE for Kenya).
- Location Code (2 characters): Specifies the city or region (e.g., NA for Eldoret).
- Branch Code (optional, 3 characters): Denotes a specific branch (e.g., ELD ).
In BARBKENAELD , these components combine to pinpoint the exact bank and branch for your transfer.
Why Choose Bank of Baroda (Kenya)?
With Africa's economy experiencing rapid growth, Bank of Baroda (Kenya) Ltd. plays a pivotal role in facilitating international trade and finance. The bank offers a comprehensive range of services, including personal and business loans, foreign exchange, and international remittances, ensuring secure and efficient transactions for its clients.
For businesses engaging with Kenyan suppliers, Bank of Baroda's global network simplifies cross-border payments. By providing the correct SWIFT code, companies can execute timely transfers, whether for urgent payments or routine transactions.
Final Thoughts
Every detail matters in international banking. Using the correct SWIFT code not only safeguards your funds but also ensures they reach their destination without unnecessary delays. Whether you're an individual or a corporation, verifying the accuracy of BARBKENAELD before initiating a transfer is a small yet critical step toward financial security.
By adhering to these guidelines, you can navigate the complexities of global finance with confidence, ensuring your transactions are both seamless and secure.