In international financial transactions, ensuring the smooth transfer of funds is a critical task. The SWIFT code plays a pivotal role in this process, serving as a global identifier that facilitates secure cross-border payments.
Understanding SWIFT Codes
Take NATIONAL BANK LIMITED as an example. The bank's SWIFT/BIC code is NBLBBDDH004 . This alphanumeric sequence is far more than a random identifier—it functions as a universal passport for international banking communications.
The SWIFT code NBLBBDDH004 not only identifies NATIONAL BANK LIMITED but also ensures precise routing of funds during cross-border transactions. This information becomes crucial when initiating international wire transfers to accounts held at this financial institution.
Executing International Transfers
When transferring funds to NATIONAL BANK LIMITED, the SWIFT code must be included along with other essential details. Required information includes:
- The complete SWIFT code:
NBLBBDDH004
- Beneficiary bank name: NATIONAL BANK LIMITED
- Bank address: 67, AGRABAD C/A, CHITTAGONG, CHITTAGONG, 4100, BANGLADESH
Best Practices for Secure Transfers
First, verify all recipient bank details to prevent transfer failures caused by minor discrepancies. When completing transfer forms, always include the correct SWIFT code to ensure prompt and accurate credit to the intended account.
SWIFT codes significantly reduce errors and processing delays in international transactions. The system's global adoption by financial institutions worldwide explains its universal application in cross-border payments.
For security and successful fund transfers, always confirm SWIFT codes before initiating transactions. While NATIONAL BANK LIMITED's code is officially registered, periodic verification helps prevent potential errors from code changes or outdated information.
Understanding SWIFT codes represents essential knowledge for anyone conducting international financial transactions. This knowledge ensures smoother cross-border payments and minimizes concerns about delayed fund transfers.