In global financial transactions, ensuring accurate and swift fund transfers is paramount. The SWIFT/BIC code system serves as a critical tool to meet this need. For transfers to Bangladesh's First Security Islami Bank PLC, the SWIFT code FSEBBDDH BNG becomes essential.
Understanding the SWIFT Code Structure
The code FSEBBDDH BNG functions as the bank's international transaction language, reducing transfer risks and ensuring funds reach designated accounts. This unique identifier breaks down as follows:
- FSEB : Bank code for First Security Islami Bank
- BD : Country code for Bangladesh
- DH BNG : Location code identifying the specific branch
Bank Details for Verification
First Security Islami Bank PLC maintains its headquarters at 121/2 Lutfor Rahman Lane, North, South Road 2, Dhaka, 1000, Bangladesh. Verifying this address during transactions helps prevent transfer errors and potential fund losses.
The SWIFT Network's Global Role
Established in the 1970s, the SWIFT network standardized and internationalized banking communications. Its secure protocol facilitates cross-border payments and information exchange, overcoming language and cultural barriers in global finance.
Critical Considerations for SWIFT Transfers
When initiating international transfers:
- Verify the recipient bank's exact name and physical address
- Confirm the transfer amount matches the intended receipt value
- Validate the SWIFT code's current accuracy with the bank
Understanding transfer fees and processing timelines enables informed financial decisions. Most institutions charge fees based on transfer amounts and destinations.