When making international wire transfers, navigating the complexities of cross-border banking systems can be daunting. Imagine needing to send funds to a bank in La Paz, Bolivia, but feeling uncertain about the correct procedures. One critical element to understand is the SWIFT code—a unique identifier that ensures your money reaches its intended destination safely and efficiently.
Banco Unión S.A., a financial institution based in Bolivia, uses the SWIFT/BIC code BAUNBO22LPZ . This code serves as both a unique identifier for the bank and an essential requirement for international transactions. Below is a breakdown of the key details associated with this code.
Bank Details
- Bank Name: Banco Unión S.A.
- SWIFT/BIC Code: BAUNBO22LPZ
- City: La Paz
- Address: Avenida Camacho, Esquina Calle Loayza, 1416 Zona Central, La Paz, Pedro Domingo Murillo
- Country: Bolivia
The SWIFT code plays a crucial role in international banking, ensuring secure and accurate fund transfers. Without it, banks cannot verify the recipient’s identity, which may lead to delays or failed transactions. For individuals and businesses conducting frequent cross-border transactions, understanding how to use these codes is imperative.
How to Use BAUNBO22LPZ for Wire Transfers
When sending money to Banco Unión S.A., accurately input the SWIFT code BAUNBO22LPZ in the wire transfer form. Include the full bank name, address, and recipient account details to minimize errors and expedite processing.
For example, if you are transferring funds to a friend in La Paz, ensure the recipient’s name and account number are correct alongside the SWIFT code. This attention to detail guarantees prompt delivery and allows you to track the transaction status with confidence.
With advancements in financial technology, many banks and digital payment platforms now offer streamlined cross-border transfer services. Familiarity with SWIFT codes enhances financial flexibility, enabling smoother international transactions.
Conclusion
Global economic activity has made international transactions increasingly common. By understanding SWIFT codes like BAUNBO22LPZ , individuals and businesses can conduct wire transfers with greater assurance—whether sending money to loved ones or engaging in global commerce. This small but vital code serves as a secure link in the world of international finance.