When making international money transfers, uncertainty about bank details can create unnecessary complications. The SWIFT/BIC code serves as a gateway to global finance, ensuring your funds reach their destination safely and efficiently. This alphanumeric combination precisely identifies banks and branches worldwide, eliminating potential transfer obstacles.
Decoding OTP BANKA D.D.'s SWIFT/BIC Structure
SWIFT/BIC codes contain 8 to 11 characters with specific functions:
- Bank Code (OTPV): Four letters uniquely identifying OTP BANKA D.D.
- Country Code (HR): Two letters indicating Croatia as the bank's registered location
- Location Code (2X): Two characters designating the bank's primary operational area
- Branch Code (SIB): Three optional characters specifying particular branches (XXX denotes headquarters)
Critical Verification Steps for International Transfers
Using incorrect SWIFT codes may cause delays or misdirected payments. Three essential verification points include:
- Bank Name Consistency: Confirm the recipient bank's name matches the SWIFT code
- Branch Specificity: Verify the branch designation when using location-specific codes
- Country Alignment: Ensure the country code corresponds with the recipient bank's location
OTP BANKA D.D.'s complete SWIFT/BIC code (OTPVHR2XSIB) identifies its branch at VIII DALMATINSKE BRIGADE 26 in SIBENIK. The base code OTPVHR2X represents the bank's primary identification, while SIB specifies this particular branch location.
This standardized system facilitates various financial operations including personal remittances, business transactions, and financial support transfers. The global banking network relies on these codes to maintain efficient cross-border payment processing.