In today's globalized economy, international money transfers have become an essential part of daily life for individuals and businesses alike. These transactions enable seamless cross-border payments, family support, and commercial exchanges. However, selecting the right banking partner is crucial to ensure secure and efficient transfers. In Bangladesh, Brac Bank Plc has emerged as a preferred choice for international remittances, offering extensive branch networks and reliable customer service.
About Brac Bank Plc
Established in 2001, Brac Bank Plc ranks among Bangladesh's leading commercial banks, distinguished by its mission to "bank the unbanked." The institution focuses on serving small and medium enterprises alongside individual customers, providing diverse financial products designed to enhance economic opportunities. As one of the country's largest banks, Brac Bank Plc emphasizes digital innovation to deliver convenient banking solutions, particularly for international money transfers.
The Growing Significance of International Remittances
Global trade expansion and increasing migration have amplified demand for international money transfers. These transactions serve vital roles in connecting families across borders and facilitating business operations worldwide. Choosing a trustworthy financial institution ensures transaction security, operational convenience, and timely fund delivery—qualities that Brac Bank Plc consistently delivers.
Key Branches and SWIFT Codes
SWIFT codes function as standardized bank identifiers that guarantee accurate and secure international fund transfers. For Brac Bank Plc customers, understanding branch-specific SWIFT codes is essential for successful transactions. Below are two principal branches with their corresponding codes:
Brac Bank Dhaka Tejgaon Branch
- Address: Anik Tower, 220/B Tejgaon I/A, Dhaka, Dhaka, 1208
- SWIFT Code: BRAKBDDHOBU
This branch offers comprehensive banking services supported by professional staff specializing in international transfers.
Brac Bank Dhaka Gulshan Branch
- Address: Anik Tower, Floor 11, 220/B Tejgaon Gulshan Link Road, Tejgaon, Dhaka, Dhaka, 1208
- SWIFT Code: BRAKBDDHXXX
Known for efficient transaction processing, this location serves as another critical hub for international banking operations.
Customers may utilize the bank's general SWIFT code for branches not listed above, providing additional flexibility for international transactions.
Step-by-Step Transfer Process
1. Information Preparation
Gather these essential details before initiating transfers:
- Recipient's full name and physical address
- Destination bank's name and location
- Recipient bank's SWIFT code
- Beneficiary account number
2. Transaction Initiation
Customers may visit any Brac Bank Plc branch or use digital banking platforms to commence transfers. For in-person transactions, verifying operating hours and document requirements beforehand is advisable.
3. Application Completion
Accurately complete all fields in the remittance application form, whether submitted physically or digitally, to prevent processing delays.
4. Fee Payment
Transaction costs vary according to transfer amounts and destinations. Customers should review applicable charges during the planning stage.
5. Confirmation and Tracking
Upon submission, the bank provides transaction receipts containing reference numbers. These documents enable customers to monitor transfer progress through online banking portals.
Critical Considerations for International Transfers
Accuracy Verification
Meticulously review all recipient details to prevent transfer failures caused by incorrect information.
Financial Parameters
Understand applicable transfer limits and associated fees to avoid unexpected transaction interruptions.
Strategic Timing
Exchange rate fluctuations significantly impact transferred amounts. Monitoring currency trends may yield financial advantages for substantial transfers.
Processing Duration
International transfers typically require one to five business days. Account for this timeframe when scheduling time-sensitive payments.
Communication Protocol
Maintain open channels with recipients to confirm successful fund delivery and address potential issues promptly.
Conclusion
Brac Bank Plc's established reputation and operational efficiency make it a reliable partner for international money transfers in Bangladesh. By familiarizing themselves with branch locations, SWIFT codes, and transfer protocols, customers can execute secure and timely cross-border transactions. For specialized assistance, the bank's customer service teams remain available to provide expert guidance throughout the transfer process.