When conducting international wire transfers, selecting the correct bank code is crucial for ensuring both the speed and security of transactions. Many individuals face challenges when using the SWIFT network to transfer funds, particularly regarding how to guarantee that money reaches the intended recipient efficiently.
This examination focuses on the SWIFT code for BANQUE DES ETATS D'AFRIQUE CENTRALE , which serves as an important financial institution in Central Africa. The bank's SWIFT code is BEACCMCX120 , with its branch located in Garoua, Bénoué, Cameroon.
For example, when sending $10,000.00 from Cameroon to France using this SWIFT code through direct debit payment, the transaction typically requires three business days to complete. The final recipient would receive approximately €8,480.00, depending on current exchange rates and applicable fees.
The significance of accurate SWIFT codes in international transactions cannot be overstated. These standardized codes serve as unique identifiers that prevent errors and delays in the global banking system. Financial institutions rely on them to route payments correctly across borders.
Before initiating any cross-border transfer, verifying the recipient bank's SWIFT code is essential. This simple verification step helps ensure that funds reach their destination securely and within the expected timeframe. Banking professionals emphasize that incorrect or incomplete SWIFT information remains one of the primary causes of delayed international payments.