When conducting international fund transfers, the SWIFT/BIC code is an indispensable element. Ensuring the correct code is used guarantees that funds reach the intended account without delays or complications. This article provides a detailed breakdown of the SWIFT/BIC code for BANCO PICHINCHA C.A., helping users navigate international transactions with confidence.
What Is a SWIFT/BIC Code?
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as the BIC (Bank Identifier Code), is an 8-to-11-character alphanumeric identifier used globally to recognize financial institutions. For BANCO PICHINCHA C.A., the SWIFT/BIC code can be dissected into the following components:
- Bank Code (PICH) : The first four letters identify BANCO PICHINCHA C.A.
- Country Code (EC) : The next two letters denote Ecuador, the bank’s home country.
- Location Code (EQ) : These two characters specify the bank’s local jurisdiction.
- Branch Code (104) : The final three digits indicate a specific branch. A branch code ending with "XXX" typically refers to the bank’s headquarters.
Thus, the complete SWIFT/BIC code for BANCO PICHINCHA C.A. is PICHECEQ104 . The core SWIFT code, PICHECEQ , is often sufficient for transactions, while the branch code ( 104 ) ensures precise routing when necessary.
Why Accuracy Matters
Using the correct SWIFT/BIC code is critical to avoid processing delays or failed transactions. Financial institutions typically process most transfers on the same day, but errors in the code can lead to complications. Verifying the code before initiating a transfer is strongly recommended.
Additionally, transparency regarding transaction fees ensures users understand the total cost before proceeding. While exact processing times may vary, efficient handling by banking teams helps maintain swift and secure transfers.
For those unfamiliar with international transactions, confirming the correct SWIFT/BIC code and associated details beforehand is essential to ensure seamless fund transfers.