In international financial transactions, selecting the correct bank SWIFT code is paramount. This unique identifier ensures funds reach their destination quickly and securely. A case study of Netherlands-based NEDERLANDSCHE BANK (DE) N.V. illustrates the importance of understanding these banking codes.
Decoding the SWIFT/BIC System
The NEDERLANDSCHE BANK (DE) N.V. operates under the SWIFT/BIC code FLORNL2ACAC. This alphanumeric sequence serves as the bank's global identifier within the financial network:
- FLOR : Represents the bank's abbreviated name
- NL : Indicates the country code for the Netherlands
- 2A : Identifies the specific branch location
Headquartered at Westeinde 1, Amsterdam, 1017 ZN, in the Noord-Holland province, this financial institution plays a significant role in regional banking operations.
Essential Verification Steps
When initiating international wire transfers using SWIFT codes, financial professionals recommend verifying three critical elements:
- The complete legal name of the recipient bank
- Accurate branch location and physical address
- Correct destination country specification
These verification measures prevent transaction delays and potential misrouting of funds.
Technical Specifications
Standard SWIFT codes contain 8 to 11 characters, combining letters and numbers to uniquely identify financial institutions and their branches worldwide. The precise use of these codes significantly reduces transfer processing times while maintaining transaction integrity.
For transactions involving NEDERLANDSCHE BANK (DE) N.V., the correct SWIFT code FLORNL2ACAC must be used in conjunction with verified account details. This dual verification process ensures secure international fund transfers.
Financial institutions typically provide guidance regarding SWIFT code usage, and customers encountering uncertainties should consult their banking representatives for clarification.