In international money transfers, ensuring funds reach their intended destination accurately is a top priority for users. The correct SWIFT code is essential for successful transactions, as exemplified by the Bank of Tanzania (BOT). The bank's SWIFT/BIC code, TANZTZTX XXX , must be used by individuals or investors when initiating cross-border transfers to this institution.
The Bank of Tanzania is headquartered at Mirambo Street 2, Dar es Salaam, Dar es Salaam, 11884, Tanzania . Precise entry of the bank's address during international transfers is crucial to prevent delays or misdirected funds.
SWIFT codes serve as standardized identifiers for banks in international transactions, comprising 8 to 11 characters. Using an incorrect code may result in failed transfers or processing delays. Both individual and corporate clients must verify this code before initiating any international payment.
As Tanzania's central bank and financial regulator, the Bank of Tanzania provides various banking services while maintaining transaction security. Those selecting remittance providers should assess the company's reputation and service quality to ensure smooth transactions. Additionally, using regulated financial platforms and verifying transfer requirements and documentation for each transaction can help prevent financial losses due to oversight.
In summary, using the correct SWIFT code TANZTZTX XXX and providing accurate destination details form the foundation for secure international money transfers. Whether for personal remittances or large corporate transactions, meticulous verification of these details safeguards the transfer process.