Navigating international wire transfers requires a clear understanding of banking codes to ensure smooth and secure transactions. For individuals or businesses conducting cross-border payments, knowing the correct SWIFT/BIC code is essential. Among the financial institutions facilitating these transactions, Bolivia’s BANCO UNION S.A. stands out for its efficiency and reliability.
The Importance of SWIFT/BIC Codes
The SWIFT/BIC code for BANCO UNION S.A. is BAUNBO22LPZ , which must be used for all international transfers involving the bank. Accuracy in entering this code is critical to prevent delays or failed transactions. The bank’s full legal name is BANCO UNION S.A., headquartered in La Paz, Bolivia, at the following address:
Avenida Camacho, esquina Calle Loayza 1416 zona central, La Paz, Pedro Domingo Murillo.
How SWIFT Codes Are Structured
SWIFT codes typically consist of 8 to 11 characters, each segment serving a specific purpose:
- First 4 characters (BAUN) : Represent the bank’s abbreviated name.
- Next 2 characters (BO) : Indicate the country code (Bolivia).
- Following 2 characters (22) : Identify the bank’s location or primary office.
- Last 3 characters (LPZ, optional) : Specify a particular branch.
When initiating a transfer to BANCO UNION S.A., using the complete BAUNBO22LPZ code ensures the funds reach the intended destination without complications.
Why Accuracy Matters
Incorrect or incomplete SWIFT codes can result in:
- Delayed or rejected transactions.
- Additional fees for fund recovery.
- Potential loss of access to funds temporarily.
Verifying the code with the recipient or the bank directly before submitting a transfer is strongly advised.
Conclusion
Mastering the use of SWIFT/BIC codes is fundamental for seamless international banking. By ensuring the correct details are provided—such as the full code BAUNBO22LPZ for BANCO UNION S.A.—senders can execute transactions confidently, knowing their funds will arrive securely and on time.