When sending money internationally, selecting the right SWIFT/BIC code is critical. This code not only ensures the security of your funds but also directly impacts transfer speed and fees. For ICICI BANK LIMITED , the correct SWIFT/BIC code is ICICINBB006 .
Understanding the SWIFT/BIC Code Structure
Providing the accurate code is essential when transferring funds to ICICI Bank. But what does this code represent? The first four characters, ICICI , identify the bank. The next two letters, IN , denote the country (India), while BB signifies the bank's local headquarters. The final three digits, 006 , specify a particular branch. Together, these components ensure your funds reach the intended destination without errors.
About ICICI BANK LIMITED
ICICI BANK LIMITED is an Indian financial institution offering global banking services, headquartered in Kolkata, West Bengal. Its official address is: "RASOI COURT, 20, R.N. MUKHERJEE ROAD, KOLKATA, WEST BENGAL, 700001, India." When initiating an international transfer, using the correct SWIFT code, bank address, and personal details is crucial to guarantee secure and timely delivery.
Verification Is Key
While ICICINBB006 is the valid code for ICICI BANK LIMITED, similar codes may exist for other banks. Confirming the accuracy of the code prevents potential losses or delays caused by incorrect transfers. SWIFT/BIC codes typically consist of 8 to 11 alphanumeric characters, ensuring precise identification within the global banking network. This standardized system facilitates efficient international transactions, minimizing processing times.
The Risks of Incorrect Codes
Consider a scenario where an international transaction is delayed due to an erroneous SWIFT code. If funds are sent to the wrong account, recovering them may involve lengthy procedures and additional costs. Such errors can disrupt business operations, making the correct use of ICICI BANK LIMITED's SWIFT code indispensable.
In global finance, knowing a bank's SWIFT/BIC code is not just a procedural requirement—it underpins trust and collaboration between businesses. Ensuring the right code is used paves the way for seamless international transactions. Always verify the SWIFT/BIC code with the bank to avoid complications.