In today's globalized financial markets, accurate bank identification codes are essential for cross-border transactions. The SWIFT/BIC system plays a crucial role in ensuring international payments are processed smoothly and securely.
The Banque des Etats d'Afrique Centrale (BEAC), the central bank for six Central African states, operates with the SWIFT code BEACCMCX110 . This unique identifier serves as the bank's digital address in the global financial network and is mandatory information for international wire transfers.
SWIFT/BIC codes follow a standardized 8-11 character structure that reveals key information about financial institutions. The first four characters ( BEAC ) identify the bank, followed by two-letter country ( CM for Cameroon), two-letter location ( CX for Douala), and optional three-character branch codes. This precise structure enhances security and accuracy in international payment processing.
For transactions involving Banque des Etats d'Afrique Centrale, the physical location in Douala, Cameroon is equally important as the SWIFT code itself. Both individuals and businesses must ensure they use the correct BEACCMCX110 identifier to prevent payment delays or misrouted funds.
When initiating international bank transfers, verification of all recipient banking details is critical. Cross-checking the SWIFT/BIC code against official sources can prevent costly errors and ensure timely delivery of funds.
Proper understanding and application of SWIFT codes like BEACCMCX110 contribute significantly to the efficiency and security of international financial transactions, benefiting both individual users and commercial entities engaged in cross-border commerce.