In today's globalized financial environment, international money transfers have become commonplace, and the correct SWIFT/BIC code is essential to ensure funds reach their destination securely. If you need to send money to Société Générale, a major bank based in Paris, France, knowing its accurate SWIFT code is particularly important.
What Is a SWIFT/BIC Code?
A SWIFT (Society for Worldwide Interbank Financial Telecommunication) code is a standardized format used to identify banks when sending funds internationally. Société Générale's SWIFT code is SOGEFRPPADI , where:
- SOGE represents the bank code;
- FR is the country code for France;
- PP indicates the city (Paris);
- ADI is the branch code.
The 8-digit SWIFT code for Société Générale is SOGEFRPP , while the branch code is ADI . Ensuring accuracy when entering these details is crucial for a successful transfer.
The Importance of Verifying SWIFT Codes
Using the correct SWIFT code is vital for international transfers. An incorrect code may result in failed transactions or delays, causing inconvenience and potential financial losses. Before proceeding with a transfer, verify the following:
- Bank Name Match: Ensure the recipient's bank name matches the one associated with the SWIFT code to avoid transfer errors.
- Branch Verification: If using a branch-specific SWIFT code, confirm that the branch is the recipient's designated account-holding institution.
- Country Consistency: The SWIFT code must correspond to the recipient's bank location to guarantee the funds arrive securely.
Conclusion
When conducting international transfers, the importance of SWIFT/BIC codes cannot be overstated. By carefully verifying these details, you can mitigate risks of delays or financial mishaps, ensuring smooth cross-border transactions. Whether for personal or business purposes, understanding and applying these key elements enhances efficiency and minimizes unnecessary costs.