In today's globalized financial environment, cross-border remittances have become increasingly common. Selecting the correct SWIFT/BIC code is crucial to ensuring funds reach their intended destination securely. This article focuses on the SWIFT/BIC code for MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. — ICBCTWTP010 — which serves as a critical identifier for directing international payments.
Key Details for MEGA International Commercial Bank
Headquartered in Taipei, Taiwan, MEGA International Commercial Bank operates with the following SWIFT code details:
- Bank Name: MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD.
- SWIFT Code: ICBCTWTP
- Branch Identifier (if applicable): 010
- Bank City: Taipei
- Address: 126 Chung Shan North Road, Section 6, Taipei, Taiwan
The Importance of SWIFT Codes
SWIFT codes, also known as Bank Identifier Codes (BIC), were established to standardize international financial transactions. Each bank and financial institution is assigned a unique code, enabling global banks to quickly identify and process cross-border transfers.
Using the correct SWIFT code — in this case, ICBCTWTP010 — minimizes the risk of funds being misrouted to incorrect institutions. This is particularly important for both personal remittances and commercial transactions where accuracy directly impacts processing efficiency.
Verification and Best Practices
When initiating an international transfer to MEGA International Commercial Bank, users should verify all recipient details, including:
- Exact spelling of the bank name
- Complete SWIFT/BIC code (including branch identifier if required)
- Recipient account information
Financial institutions typically require these details to process transactions without delays. Any discrepancies in the provided information may result in failed transfers or additional verification steps.