When sending money internationally, even minor errors in banking details can cause significant delays. Among the most crucial elements is the SWIFT/BIC code—an 8 to 11-character financial identifier that precisely identifies banks and their branches worldwide. This article examines the structure of HSBC UK BANK PLC's SWIFT/BIC code and outlines key considerations for ensuring smooth international transactions.
Understanding SWIFT/BIC Code Structure
Take the example code HBUKGB4B72C :
- Bank Code (HBUK) : The first 4 characters identify HSBC UK BANK PLC specifically.
- Country Code (GB) : The next 2 characters indicate the bank's location in the United Kingdom.
- Location Code (4B) : These 2 characters specify the bank's geographic location.
- Branch Code (72C) : The final 3 characters pinpoint a specific branch when included.
Critical Verification Steps
To prevent transaction errors or delays, consider these essential checks:
- Bank Name Verification : Cross-reference the recipient's bank name with official records.
- Branch Specificity : When using a branch-specific code, confirm it matches the recipient's actual branch.
- Country Accuracy : Verify the country code corresponds with the transaction's destination country.
These verification steps significantly reduce the risk of transaction errors. When conducting international transfers through HSBC UK BANK PLC, proper understanding and application of SWIFT/BIC codes provides fundamental protection for your funds.