In global financial transactions, ensuring the accurate and secure transfer of funds to the intended bank is a critical priority for every user. Cross-border payments, in particular, rely heavily on the correct use of SWIFT/BIC codes. For those conducting business with ING-DIBA AG, a leading German retail bank, understanding its SWIFT code is fundamental to seamless transactions.
ING-DIBA AG's SWIFT/BIC Code Explained
The SWIFT code for ING-DIBA AG (Retail Banking) is INGDDEFFGPC . This 11-character identifier ensures that funds are routed precisely to the bank's branch in Frankfurt, Germany. The bank's full address is:
Theodor-Heuss-Allee 2, Frankfurt am Main, Hessen, 60486, Germany.
Why SWIFT Codes Matter
SWIFT codes, also known as BIC (Bank Identifier Codes), are standardized international identifiers comprising 8 to 11 characters. They uniquely pinpoint a specific bank and its branch during cross-border transfers. Providing the correct code minimizes the risk of funds being misdirected to unintended institutions, safeguarding your financial transactions.
Key Details to Verify Before Transferring Funds
Before initiating an international transfer, always confirm that the SWIFT code matches the recipient bank. For ING-DIBA AG, the code INGDDEFFGPC must be used to ensure the funds reach the designated retail banking division. Cross-checking this detail is the simplest way to prevent delays or errors.
Decoding the SWIFT Structure
The SWIFT code follows a logical format:
- First 4 characters (INGD): Bank code (specific to ING-DIBA AG).
- Next 2 characters (DE): Country code (Germany).
- Following 2 characters (FF): Location code (Frankfurt).
- Final 3 characters (GPC): Branch identifier (retail banking division).
Verifying the full code, including the branch suffix, enhances transfer accuracy.
Avoiding Common Pitfalls in International Transfers
To reduce errors when using SWIFT codes:
- Double-check the code with your bank before submitting a transfer request.
- Confirm that the recipient bank’s details align with the provided SWIFT information.
- Contact the recipient to validate all transaction details prior to sending funds.
Conclusion
Correctly using ING-DIBA AG’s SWIFT/BIC code is a cornerstone of secure and efficient international banking. While cross-border transactions involve multiple steps, meticulous attention to the SWIFT code ensures that funds arrive exactly as intended. Remember: accuracy in these details is the foundation of every successful transfer.