In today’s globalized financial landscape, international money transfers have become a crucial part of personal and business transactions. Whether sending funds to family, purchasing goods from abroad, or conducting cross-border business deals, understanding how to execute these transfers efficiently and securely is essential. A key component of this process is the use of SWIFT/BIC codes. Today, we explore the details of sending an international transfer through BRAC Bank PLC, ensuring your funds reach the intended account swiftly and safely.
What Is a SWIFT/BIC Code?
A SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as a BIC (Bank Identifier Code), is an international standard used to identify banks and financial institutions. It consists of 8 to 11 characters, each representing specific details about the bank, country, and location. For BRAC Bank, the SWIFT/BIC code is BRAKBDDHOBU .
Breaking Down BRAC Bank’s SWIFT/BIC Code
- BRAK : Identifies BRAC Bank.
- BD : The country code for Bangladesh.
- DH : Indicates the bank’s location.
- OBU : Refers to a specific branch.
BRAC Bank’s Address for International Transfers
In addition to the SWIFT/BIC code, the bank’s exact address is critical for international transfers. BRAC Bank’s full address is:
DHAKA, BANGLADESH, ANIK TOWER, 220/B TEJGAON I/A, DHAKA, DHAKA, 1208
Providing the correct address helps prevent delays or errors in processing transactions.
How to Send an International Transfer via BRAC Bank
- Choose a Transfer Method : Select a bank or financial service provider that supports international transfers to BRAC Bank.
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Gather Required Information
: Before initiating the transfer, ensure you have:
- The recipient’s full name and account number.
- BRAC Bank’s SWIFT/BIC code ( BRAKBDDHOBU ).
- The bank’s complete address (as listed above).
- Complete the Transfer Request : Submit the transfer details through your bank’s website, mobile app, or in-person at a branch. Double-check all information, including the SWIFT/BIC code and account details.
- Track the Transfer : Request updates from your bank to monitor the transaction’s progress. Most institutions provide tracking services for real-time updates.
Why Use BRAC Bank for International Transfers?
As one of Bangladesh’s largest private banks, BRAC Bank has built a strong reputation for reliability and efficiency in international transactions. Headquartered in Dhaka, the bank offers seamless cross-border payment services through its robust SWIFT network.
- Global Network : BRAC Bank’s extensive international partnerships ensure smooth transfers to individuals and businesses worldwide.
- Customer Support : The bank provides 24/7 assistance to resolve any issues during the transfer process.
- Security Measures : Every transaction is safeguarded with strict protocols to protect funds and personal data.
The Importance of Accurate SWIFT/BIC Codes
Using the correct SWIFT/BIC code is not only a compliance requirement but also a critical security measure. Incorrect codes may result in funds being sent to the wrong account, causing delays and additional fees. Always verify the code before submitting a transfer request.
Conclusion: Secure and Efficient International Transfers
When sending money to BRAC Bank or any international institution, proper use of the SWIFT/BIC code is vital for ensuring a smooth transaction. BRAC Bank’s code ( BRAKBDDHOBU ) and full address details are indispensable for accurate and timely transfers. By verifying all information beforehand, you can avoid potential issues and confidently complete your international payment.