In international financial transactions, a SWIFT code functions like GPS for navigation, directly guiding the flow of funds. But what exactly is this crucial identifier, and how can you ensure your money reaches its intended destination safely? This examination focuses on United Bank Limited and its vital SWIFT code operations.
Understanding the SWIFT Code Structure
United Bank Limited's SWIFT/BIC code is UNILPKKA686 , with its headquarters located at Bank Square in Faisalabad, Punjab, Pakistan. This alphanumeric sequence serves dual purposes: as the bank's unique identifier and as a safeguard for financial security during cross-border transfers.
The code breaks down into meaningful components: The first four letters "UNIL" represent the bank's name. The following two letters "PK" denote Pakistan as the country. The subsequent "KA" identifies the specific city or region, while the final three digits "686" typically indicate a particular branch location.
The Critical Importance of Accuracy
Financial experts emphasize that even minor errors in SWIFT codes can create significant complications. An incorrect code may result in failed transactions, delayed funds, or more severe financial disputes. Recent cases illustrate this risk vividly: One customer attempting to transfer funds from China to United Bank Limited accidentally entered UNILPKKA687 instead of the correct code. This single-digit discrepancy caused processing delays and ultimately resulted in the funds being returned during the clearing process.
United Bank Limited, as an established financial institution with both domestic and international operations, has implemented modern technological solutions ranging from online banking to mobile payment platforms. These digital channels aim to accelerate transaction speeds while maintaining security protocols.
For individuals and businesses conducting international transfers, verifying the recipient's SWIFT code remains the fundamental step in ensuring successful transactions. When dealing with United Bank Limited, always confirm the use of the correct code: UNILPKKA686 .