In today's global economy, international money transfers have become increasingly common, with more individuals and businesses engaging in cross-border transactions. Whether sending personal remittances or making corporate payments, ensuring the security and accuracy of these transfers is paramount. A crucial first step in this process is selecting the appropriate bank and its corresponding SWIFT code – the unique identifier used among financial institutions to specify particular banks and their branches.
This article examines Arab Bank Plc's branch information and SWIFT codes in Jordan while providing practical guidance to facilitate smooth international transactions.
Arab Bank: A Regional Financial Powerhouse
Established in 1930, Arab Bank has grown to become one of the Middle East's largest financial institutions, offering diverse banking services worldwide. With numerous branches across Jordan, the bank provides comprehensive personal, corporate, and investment banking services. Its extensive network and decades of experience have made Arab Bank a preferred choice for international money transfers in the region.
Key Arab Bank Branches and Corresponding SWIFT Codes
When initiating international transfers, identifying the correct SWIFT code for your specific branch is essential. Below is a detailed listing of Arab Bank's primary Jordanian branches and their associated codes:
| SWIFT Code | Address | City | Postal Code |
|---|---|---|---|
| ARABJOAX100 | Shaker Ben Zaid Street, Shmeisani | Amman | 11195 |
| ARABJOAX102 | Nuzha St, Karak | Karak | 17110 |
| ARABJOAX104 | King Faisal I St, Mafraq | Mafraq | 25110 |
| ARABJOAX105 | King Hussain St, Russeifa | Zarqa | 13710 |
| ARABJOAX107 | King Abdullah St, Jerash | Jerash | 26110 |
| ARABJOAX108 | Quraish Street, Saqf Al Sail, Amman | Amman | 11118 |
| ARABJOAX110 | Princess Raya Bint Hussein St, Amman | Amman | 11821 |
| ARABJOAX111 | King Faisal Street, Amman | Amman | 11185 |
Should your specific Arab Bank branch not appear in this listing, you may still conduct international payments using the bank's primary SWIFT code. This approach routes transactions through the central system, minimizing potential errors and delays.
The International Transfer Process: Key Considerations
When preparing an international transfer, ensure you have the following information readily available:
- Recipient Bank SWIFT Code: As detailed above, each Arab Bank branch maintains its unique identifier.
- Recipient Account Number: Verify this information meticulously when completing transfer forms.
- Recipient Name: Confirm the name matches bank records precisely to prevent transaction complications.
Accuracy in these details forms the foundation of successful international transfers. Additionally, understanding potential fees and exchange rates applied by receiving banks helps manage expectations regarding final transferred amounts.
Modern Transfer Options: Beyond Traditional Banking
Contemporary financial technology has expanded international transfer options significantly. While traditional bank channels remain viable, alternative platforms often provide competitive advantages:
- Competitive Exchange Rates: Many fintech solutions offer more favorable rates than conventional banks.
- Transparent Fee Structures: Users typically receive clear cost breakdowns before transaction confirmation.
- Expedited Processing: Some platforms complete transfers within the same business day.
Essential Precautions for International Payments
When initiating SWIFT transfers, observe these critical precautions:
- Triple-Check Details: Verify SWIFT codes, account numbers, and recipient names with particular attention to detail.
- Immediate Error Reporting: Contact your bank promptly if you identify any mistakes post-submission.
- Understand Cost Structures: Research applicable fees and exchange rates to make informed transfer decisions.
Decoding SWIFT: Understanding the Identifier System
Each 8-11 character SWIFT code contains specific information:
- First 4 Characters: Bank code (typically an abbreviation of the bank's name)
- Next 2 Characters: Country code (ISO standard)
- Characters 6-8: Location identifier (city/branch)
- Optional Last 3 Characters: Branch-specific designation
For example, "ARABJOAX100" breaks down as follows: ARAB (bank prefix), JO (Jordan country code), AX (branch identifier), and 100 (specific branch designation).
The Convenience of Digital Banking
Modern banking innovations have transformed international transfers into convenient digital processes. Most financial institutions now support online and mobile platforms for international transactions, eliminating traditional branch visits. When utilizing these services, implement robust security measures including regular password updates and two-factor authentication.
Successful international money transfers require meticulous attention to detail throughout the process. Selecting an established institution like Arab Bank and understanding its branch-specific SWIFT codes significantly enhances transaction reliability. For those prioritizing cost efficiency alongside security, contemporary fintech solutions present viable alternatives to traditional banking channels.