In today's globalized economy, international money transfers have become increasingly common, with frequent cross-border financial flows between individuals and businesses. However, many face challenges when conducting these transactions, particularly regarding the accuracy of SWIFT codes. An incorrect SWIFT code can lead to funds being sent to the wrong account or temporarily frozen, potentially causing significant financial losses and operational disruptions.
National Bank Limited: A Trusted Financial Institution
Established in 1993 and headquartered in Dhaka, National Bank Limited has grown to become one of Bangladesh's leading commercial banks. The institution offers comprehensive financial services including personal banking, corporate banking, investment banking, and wealth management solutions. Its commitment to service excellence has earned it a strong reputation in the financial sector.
Understanding SWIFT Codes
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system facilitates secure messaging between financial institutions globally. A SWIFT code, also known as a Bank Identifier Code (BIC), serves as a unique identification for banks in international transactions.
National Bank Limited's SWIFT code, NBLBBDDH001 , breaks down as follows:
- NBLB : Bank code (National Bank Limited)
- BD : Country code (Bangladesh)
- DH : Location code (Dhaka)
- 001 : Branch identifier
The Critical Importance of Accuracy
Using the correct SWIFT code is paramount for successful international transfers. Even minor errors can result in:
- Funds being routed to incorrect accounts
- Transaction delays
- Potential legal complications
- Temporary freezing of funds
Financial institutions strongly recommend verifying SWIFT codes directly with the recipient bank or through official channels before initiating transfers.
National Bank Limited's Transfer Advantages
The bank offers several benefits for international transactions:
- Efficient Processing: Experienced teams handle transactions of all sizes with speed and precision.
- Transparent Pricing: Clear fee structures with no hidden charges.
- Comprehensive Support: 24/7 customer service for transaction-related inquiries.
- Multiple Channels: Online, phone, and in-person transfer options.
- Global Reach: Extensive correspondent banking network worldwide.
Step-by-Step Transfer Guide
When initiating an international transfer to National Bank Limited:
- Gather complete recipient details including account number and SWIFT code
- Select preferred transfer method
- Complete application with verified information
- Review all fees and exchange rates
- Obtain transaction reference for tracking
- Confirm receipt with beneficiary
Frequently Asked Questions
How can I find a SWIFT code?
Contact the recipient bank directly or check official bank documentation.
What's the typical transfer duration?
Most international transfers complete within 1-5 business days, depending on multiple factors.
What's the difference between SWIFT and IBAN?
SWIFT identifies the bank, while IBAN (International Bank Account Number) specifies the individual account.