In today's globalized financial landscape, the need for international money transfers continues to rise. SWIFT/BIC codes serve as critical identifiers for banks and their branches, ensuring seamless cross-border transactions. For many, these seemingly complex alphanumeric sequences represent more than just codes—they are essential enablers of secure fund movement. This article provides a detailed breakdown of the SWIFT/BIC code structure for KRUNG THAI BANK PUBLIC COMPANY LIMITED, facilitating safer and more efficient transactions.
Structure of SWIFT/BIC Codes
Every SWIFT/BIC code consists of 8 to 11 characters designed to uniquely identify a bank and its specific branch worldwide. Below is a detailed analysis of KRUNG THAI BANK's SWIFT/BIC code components:
- Bank Code (KRTH): These four letters represent KRUNG THAI BANK PUBLIC COMPANY LIMITED.
- Country Code (TH): The two-letter code indicates the bank's location in Thailand.
- Location Code (BK): These characters denote the bank's headquarters.
- Branch Code (SRP): The final three letters specify a particular branch. If the code ends with "XXX," it refers to the bank's primary office.
Example of KRUNG THAI BANK's SWIFT/BIC Code
- Full SWIFT/BIC Code: KRTHTHBKSRP
- 8-Digit SWIFT Code: KRTHTHBK
- Branch Code: SRP (identifying KRUNG THAI BANK PUBLIC COMPANY LIMITED)
- Address: Floor 6, 35, Nana Nua Building, Bangkok
Ensuring Accurate Transfers
To prevent delays or errors in international transactions, verifying the correct SWIFT/BIC code is essential. Key considerations include:
- Bank Name Verification: Ensure the recipient bank's name matches the one associated with the SWIFT code.
- Branch Confirmation: If using a branch-specific code, confirm that it aligns with the recipient's designated branch.
- Country Alignment: The SWIFT code must correspond to the recipient bank's country for successful fund routing.
Advantages of Using Xe for International Transfers
When transferring funds to KRUNG THAI BANK PUBLIC COMPANY LIMITED, utilizing Xe as a service provider offers several benefits:
Competitive Exchange Rates
Comparative analysis often reveals that Xe provides more favorable exchange rates than traditional banks, resulting in cost savings for frequent transfers.
Transparent Fee Structure
All applicable fees are disclosed upfront, ensuring clarity and predictability before initiating transactions.
Expedited Processing
Most transfers are completed within the same day, prioritizing timely delivery of funds.