In today's globalized economy, the ability to conduct seamless international bank transfers has become increasingly vital. Among the critical components facilitating these transactions, the SWIFT code system stands out as an indispensable tool for cross-border financial operations.
Understanding ICICI Bank's SWIFT Code
ICICI Bank, one of India's leading financial institutions, operates with the standardized SWIFT code ICICINBB010 . This alphanumeric identifier follows the conventional SWIFT format, comprising an 8-character bank code followed by a 3-digit branch identifier.
The first four letters ( ICIC ) represent the bank's unique identifier, followed by the country code ( IN for India) and location code ( BB ). The final three digits ( 010 ) specifically designate the bank's branch in Kochi, Kerala.
ERNAKULAM, KOCHI, KERALA,
682035, INDIA
Why SWIFT Codes Matter for International Transfers
The SWIFT network serves as the backbone of international financial transactions, enabling banks worldwide to communicate securely and efficiently. When initiating an overseas transfer to an ICICI Bank account, providing the correct SWIFT code ensures your funds are routed to the intended destination without unnecessary delays or complications.
While some payment systems may not explicitly require SWIFT codes for certain transactions, financial experts strongly recommend verifying this information with both the recipient and their banking institution prior to initiating any international transfer.
Best Practices for Using SWIFT Codes
Financial institutions periodically update their SWIFT codes to maintain compatibility with evolving global banking standards. Before conducting any international transaction, it's crucial to confirm you're using the most current SWIFT information available.
When preparing to send funds to ICICI Bank, double-check that you've entered the complete ICICINBB010 code along with the recipient's account details. This attention to detail significantly reduces the risk of processing errors and helps safeguard your financial assets during transit.
By understanding and properly utilizing SWIFT codes like ICICI Bank's identifier, individuals and businesses can navigate the complexities of international finance with greater confidence, ensuring their cross-border transactions are executed both securely and efficiently.