Have you ever experienced delays or misdirected funds when making international transfers due to incorrect banking information? Using the proper SWIFT/BIC code is crucial for ensuring your money reaches its intended destination securely and efficiently. This article provides a comprehensive overview of ING-DIBA AG (Retail Bank)'s SWIFT code INGDDEFFTSY and best practices for cross-border transfers.
Bank and SWIFT Code Overview
ING-DIBA AG (Retail Bank) is headquartered at Theodor-Heuss-Allee 2, 60486 Frankfurt am Main, Germany. The financial institution's SWIFT code, INGDDEFFTSY, plays a vital role in facilitating secure international transactions by accurately identifying the bank and its specific branch.
Transferring Funds to France: A Practical Example
When sending money to France from ING-DIBA AG, customers can transfer amounts up to £10,000.00 (GBP), with recipients receiving approximately €11,378.00. Bank transfers typically process within 24 hours, with no sender fees or transfer charges applied, making this an efficient and cost-effective option for international transactions.
Primary Payment Methods
While multiple payment options exist for international transfers, bank transfers remain the most reliable and widely-used method. Always verify that recipients will receive funds directly into their designated bank accounts. Ensure the selected delivery method aligns with the recipient's requirements to prevent processing delays.
Understanding SWIFT Code Structure
SWIFT/BIC codes consist of 8-11 characters with specific components:
- Bank Code (INGD): Identifies ING-DIBA AG (Retail Bank)
- Country Code (DE): Indicates Germany as the bank's location
- Location Code (FF): Specifies the bank's headquarters
- Branch Code (TSY): Identifies the specific branch
When a SWIFT code ends with 'XXX', it designates the bank's primary office rather than a specific branch.
Key Considerations When Using SWIFT Codes
Before initiating transactions with SWIFT codes, verify these critical details:
- Bank Name Accuracy: Confirm the recipient bank name matches exactly with your records
- Branch Specifics: When using a branch-specific SWIFT code, ensure alignment with the recipient's branch
- Country Verification: Double-check that the SWIFT code corresponds to the correct destination country
Conclusion
Selecting the proper SWIFT code is fundamental when transferring funds to ING-DIBA AG (Retail Bank). Utilizing the accurate SWIFT code INGDDEFFTSY guarantees secure and timely delivery of your international payments. Professional currency exchange services can provide additional support with real-time exchange rates and transaction expertise for seamless cross-border transfers.