In today's globalized financial landscape, international money transfers have become routine transactions. Among the most critical elements in these cross-border payments is the proper use of SWIFT codes, particularly when sending funds to major institutions like Portugal's Caixa Geral de Depósitos (CGD) .
The Importance of Accurate SWIFT Codes
CGD, Portugal's largest state-owned bank headquartered in Lisbon, requires senders to use its designated SWIFT/BIC code CGDIPTPLXXX for international transfers. This alphanumeric identifier serves as a global banking address, ensuring funds reach the intended account securely and efficiently.
Essential Transfer Information
When initiating a transfer to CGD, customers must provide:
- The bank's full legal name: Caixa Geral de Depósitos
- Headquarters address: Avenida João XXI 63, 1000-300 Lisbon, Portugal
- The complete SWIFT code: CGDIPTPLXXX
Financial experts emphasize that verifying these details before transaction submission can prevent costly delays or misdirected funds.
Additional Considerations for International Transfers
Beyond the SWIFT code, customers should carefully review:
- Transfer amount and currency conversion rates
- Applicable fees and processing times
- Recipient account details (including IBAN for European transfers)
Banking protocols for international transfers vary by institution, making it advisable to confirm specific requirements with your financial provider before initiating transactions.
CGD's Commitment to Secure Transactions
As one of Portugal's most established financial institutions, Caixa Geral de Depósitos maintains rigorous verification processes for its international banking codes. The bank regularly updates its SWIFT information to comply with global financial standards and protect customer assets.
Customers are encouraged to verify the most current banking codes through official channels before processing any international money transfers. This due diligence serves as a critical safeguard against potential errors in the transfer process.
Financial professionals universally agree that proper SWIFT code verification represents the foundational step in secure international banking, whether for personal remittances or corporate transactions.