When sending money across borders, using the proper SWIFT/BIC code is essential to guarantee both the security and accuracy of your transfer. These unique identifiers help financial institutions worldwide process international payments efficiently.
For example, National Bank Limited in Chittagong, Bangladesh uses the SWIFT code NBLBBDDH004 . The bank's complete address is:
67, Agrabad C/A, Chittagong, Chittagong, 4100, Bangladesh
The SWIFT system provides a standardized way for banks to communicate during international transactions. Each code contains specific information: the first four characters identify the bank (NBLB for National Bank Limited), followed by the country code (BD for Bangladesh), location code (DH for Chittagong), and an optional branch identifier (004 in this case).
Using an incorrect SWIFT code can lead to delayed payments or even lost funds. Financial experts recommend double-checking these details before initiating any international transfer. For National Bank Limited, ensuring the use of NBLBBDDH004 helps prevent such complications.
Both individual and corporate clients should verify SWIFT information with their recipient's bank before processing transactions. This simple precaution can save considerable time and prevent potential financial losses during cross-border payments.