As global economic ties strengthen, international financial transactions have become increasingly common. One critical piece of information for seamless cross-border money transfers is the SWIFT/BIC code, a unique identifier that ensures funds reach the correct financial institution.
For those conducting business with Thailand, Krung Thai Bank Public Company Limited stands as a prominent financial institution. Its international bank code ( KRTHTHBKSRP ) serves as the key to accurate and efficient transactions.
The Importance of SWIFT Codes
SWIFT codes, formally known as Bank Identifier Codes (BIC), are used by financial institutions worldwide to identify specific banks during international transactions. These codes typically consist of 8 to 11 characters that pinpoint the bank, country, city, and sometimes branch.
In the case of Krung Thai Bank, using the correct code KRTHTHBKSRP helps prevent potential delays or misdirected funds. This precision becomes particularly important when transferring large sums or time-sensitive payments.
Krung Thai Bank's Details
The bank's complete address information includes:
Floor 6, 35, Nana Nua Building
Sukhumvit Road, Bangkok
Bangkok 10110
Thailand
Located in Bangkok's financial district, Krung Thai Bank benefits from its position in one of Southeast Asia's leading economic hubs, enhancing its capacity to process international transactions efficiently.
Ensuring Successful Transfers
When initiating an international transfer, consider these essential steps:
- Double-check the recipient's SWIFT code and account details
- Verify the bank's complete address information
- Confirm any intermediary bank requirements
- Understand applicable fees and processing times
Common errors that can delay transactions include incorrect SWIFT codes, missing beneficiary details, or incomplete bank information. These mistakes may result in additional charges or require time-consuming investigations to locate funds.
The Global Banking Landscape
As international commerce continues to expand, understanding fundamental banking protocols like SWIFT codes becomes increasingly valuable. Financial institutions like Krung Thai Bank play a vital role in facilitating these global connections, with proper code usage serving as the foundation for secure and timely transactions.
For those conducting business with Thailand or sending personal remittances, remembering Krung Thai Bank's SWIFT code KRTHTHBKSRP and maintaining accurate recipient information will help ensure smooth financial operations across borders.