In international financial transactions, SWIFT codes serve as the critical component ensuring secure and prompt fund transfers. For customers of Egypt's National Bank (NATIONAL BANK OF EGYPT), the accuracy of these codes directly impacts how quickly funds reach their intended destination. This article provides a comprehensive overview of the bank's SWIFT code and its proper usage.
Understanding the National Bank of Egypt's SWIFT Code
The SWIFT code for National Bank of Egypt is NBEGEGCX006 . This alphanumeric sequence breaks down into distinct components: "NBEG" represents the bank code, "EG" denotes Egypt as the country, and "GCX006" identifies the specific branch location. This information proves indispensable when initiating international transfers to accounts held at the bank.
The bank's headquarters, located at 9 EL SHERIFAIN STREET, CAIRO, CAIRO, EGYPT, serves as the primary routing point for international transactions. Correct SWIFT code usage benefits both individual customers conducting personal transfers and businesses engaged in cross-border commerce.
The International Transfer Process
Executing an international transfer using a SWIFT code typically involves these steps:
- The sender provides their bank with the recipient's complete SWIFT code, account number, and transfer amount
- The originating bank transmits the transfer request to National Bank of Egypt through the SWIFT network
- National Bank of Egypt verifies and processes the transaction before crediting the recipient's account
Important Considerations
Several key factors warrant attention when using SWIFT codes:
- SWIFT codes undergo periodic review and updates by financial institutions
- Customers should verify the current SWIFT code before initiating each transfer
- Precise entry of all transaction details prevents delays or misdirected funds
- Processing times may vary depending on intermediary banks and currency conversions
Proper utilization of the National Bank of Egypt's SWIFT code (NBEGEGCX006) ensures efficient international money transfers while minimizing potential complications. This knowledge empowers customers to navigate global financial transactions with greater confidence and understanding.