In international fund transfers, an accurate SWIFT code is crucial to ensure secure and timely delivery of funds. ICICI BANK LIMITED, one of India's leading private banks, uses the SWIFT code ICICINBB006 for its branch in Kolkata, West Bengal. Established in 1994, ICICI Bank has grown to become one of India's most prominent financial institutions, known for its robust banking services.
Understanding SWIFT Codes
A SWIFT code (Society for Worldwide Interbank Financial Telecommunication code) serves as a standard bank identifier in global financial transactions. This unique code enables banks to quickly identify each other during cross-border transfers, enhancing both efficiency and security.
The structure of ICICI Bank's SWIFT code ICICINBB006 breaks down as follows:
- ICIC : Bank code for ICICI Bank
- IN : Country code for India
- BB : Location code for the bank's headquarters
- 006 : Branch code specifically identifying the Kolkata branch
Ensuring Secure Transactions
When initiating international wire transfers, verifying the accuracy of the SWIFT code is essential. An incorrect code may result in delayed or misdirected funds. Financial institutions periodically update their SWIFT codes to reflect organizational changes, making it prudent to confirm the current code before processing any transaction.
As global financial systems evolve, maintaining vigilance regarding banking identifiers remains a fundamental aspect of secure international money transfers. Proper verification of SWIFT codes not only safeguards funds but also optimizes the efficiency of cross-border transactions.