In global financial transactions, security and accuracy are paramount. Have you ever wondered how every cent of an international transfer reaches its intended destination? Today, we examine the SWIFT/BIC code CCDQCAMMXXX assigned to Fédération des caisses Desjardins du Québec and its pivotal role in facilitating seamless cross-border payments.
Understanding SWIFT/BIC Codes
A SWIFT code, also known as a Bank Identifier Code (BIC), is a unique alphanumeric identifier assigned by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to financial institutions worldwide. The code CCDQCAMMXXX specifically identifies Fédération des caisses Desjardins du Québec , headquartered in Lévis, Quebec, Canada. This standardized system ensures precise routing of funds while enhancing transaction security.
The structure of the code reveals key details:
- CCDQ : Institution code for Fédération des caisses Desjardins du Québec
- CAMM : Geographic identifier for the bank's location in Canada (CA) and Lévis (MM)
- XXX : Optional branch identifier (XXX typically denotes the primary office)
When Is CCDQCAMMXXX Required?
This SWIFT/BIC code is essential for:
- International wire transfers to accounts held at Desjardins
- Cross-border business transactions involving Canadian partners
- Personal remittances to family or friends in Quebec
Accuracy in providing the complete 11-character code prevents processing delays or misdirected funds. Financial institutions globally recognize these 8-11 character codes to uniquely identify banks, ensuring efficient and secure transfers.
Verification Best Practices
To safeguard transactions:
- Confirm the SWIFT code through the bank's official website or customer service
- Double-check recipient account details alongside the BIC
- Verify any intermediary bank requirements for complex transfers
In today's dynamic financial landscape, understanding these operational tools is critical for secure global transactions. Whether supporting family abroad or conducting international business, the correct use of CCDQCAMMXXX ensures your funds reach their Quebec destination efficiently and securely.