Have you ever encountered errors or delays when sending money abroad? Such issues often stem from incorrect usage of SWIFT/BIC codes. This article explores the SWIFT/BIC code for Hang Seng Bank Limited— HASEHKHHSEC —and how to ensure seamless cross-border transactions.
A SWIFT/BIC code is an 8-to-11-character unique identifier critical for specifying banks and accounts in international transfers. For Hang Seng Bank Limited, the code HASEHKHHSEC breaks down as follows:
- Bank code (HASE) : Identifies Hang Seng Bank Limited.
- Country code (HK) : Indicates the bank is headquartered in Hong Kong.
- Location code (HH) : Points to the bank’s primary office.
- Branch code (SEC) : Specifies a particular branch. If the code ends with "XXX," it refers to the bank’s head office.
Why Accuracy Matters
Using the correct SWIFT/BIC code is essential to avoid processing errors or delays. Before initiating a transfer, verify the following:
- Bank name : Confirm the recipient’s bank name matches your records.
- Branch details : If using a branch-specific SWIFT code, ensure it aligns with the recipient’s branch.
- Country : Double-check that the destination bank’s country matches the SWIFT code.
Properly understanding and applying SWIFT/BIC codes enhances the efficiency of international transfers and mitigates potential financial risks. Always verify these details before submitting a transaction to ensure smooth cross-border payments.