When making international wire transfers, identifying the correct SWIFT/BIC code is essential for both individuals and businesses conducting cross-border transactions through international banks. The accurate use of these codes ensures funds reach their intended destination without errors.
For example, MEGA International Commercial Bank uses the SWIFT code ICBCTWTP006 . Located at 90 Zhongshan Road, Tainan City 700, Taiwan, this financial institution requires proper SWIFT code usage to facilitate fast and secure fund transfers while preventing unnecessary delays.
SWIFT codes contain multiple components that identify specific banks and their locations. The first four letters represent the bank's name, followed by two letters indicating the country. The final characters typically specify a particular branch. When entering ICBCTWTP006 on international payment platforms, the system precisely identifies the destination bank.
Verifying the accuracy and current status of SWIFT codes remains crucial for international transactions. Financial institutions like MEGA International Commercial Bank periodically update their SWIFT codes to comply with global financial standards. Users should always confirm code validity before initiating transfers.
Preparing complete recipient information—including account numbers and contact details—expedites processing and minimizes operational errors. Understanding transfer fees and processing times is equally important, as these vary between banks and regions.
SWIFT/BIC codes function as essential routing identifiers for international transactions, comparable to postal addresses for financial transfers. By correctly using MEGA International Commercial Bank's code ICBCTWTP006 , users can confidently conduct global transactions for personal, business, or investment purposes with greater efficiency.