In today's globalized financial environment, efficient fund transfers have become increasingly important. Whether for personal remittances or corporate treasury operations, proper use of SWIFT codes ensures secure and rapid movement of capital across borders.
ICICI Bank's Unique Identifier
ICICI Bank, one of India's leading financial institutions, plays a significant role in international money transfers through its SWIFT/BIC code ICICINBB008 . This eight-character code serves as the bank's unique identifier within the global financial network.
The code's structure follows international standards: the first four characters "ICIC" represent the bank's abbreviated name, followed by "IN" denoting India as the country code. The final two characters "BB" specifically identify the bank's branch location.
Global Operations from Hyderabad
Headquartered at T.G.V. Mansions, Raj Bahvan Road, Khairatabad, Hyderabad, Telangana 500004, ICICI Bank leverages the SWIFT network to provide worldwide payment and remittance services. The bank's strategic location in India's financial landscape enables efficient processing of international transactions.
Cross-Border Transaction Mechanics
When transferring funds to countries like France, the process typically involves initial transmission in U.S. dollars, with recipients ultimately receiving the equivalent amount in euros. These transactions generally complete within approximately three business days when using automated payment systems.
Exchange rates play a critical role in such transactions. The conversion rate applied is determined by prevailing market conditions at the time of fund transfer. Customers can monitor current exchange rates through various financial information platforms to better plan their international money movements and anticipate final settlement amounts.
The Importance of SWIFT Codes
Understanding the function of SWIFT codes and ICICI Bank's position in global financial services enables customers to make more informed decisions regarding cross-border transactions. In an era of increasing international remittances, proper utilization of SWIFT/BIC codes remains fundamental to ensuring secure and transparent fund transfers.
This standardized process allows customers to benefit from swift and reliable financial services while minimizing potential risks associated with international money movement. The system's efficiency and security continue to support global economic integration and financial connectivity.