Guide to Banco De Occidentes SWIFT Code for Transfers

Published: 09/04/2025
SWIFT Code Cross-border Remittance Banco de Occidente Colombia
This article provides a detailed analysis of Banco de Occidente Colombia's SWIFT code, OCCICOBCBAQ. It explains the structure of a SWIFT code and its role in international money transfers. The importance of accurately providing the bank name, branch information, and country when using a SWIFT code is highlighted. Correctly using the SWIFT code is crucial to avoid remittance delays, failures, and additional fees. This ensures smooth and efficient cross-border transactions with Banco de Occidente in Colombia.
Guide to Banco De Occidentes SWIFT Code for Transfers

When sending funds internationally to Banco de Occidente in Colombia, ensuring the accuracy of banking details is crucial to prevent delays or failed transactions. The SWIFT/BIC code serves as a unique identifier for financial institutions, similar to a bank's "passport" for international transfers.

What Is a SWIFT/BIC Code?

The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), is an 8 to 11-character alphanumeric identifier used to recognize specific banks and branches globally. This standardized system facilitates secure cross-border payments between financial institutions.

Decoding OCCICOBCBAQ: Banco de Occidente's SWIFT Identifier

The code OCCICOBCBAQ represents Banco de Occidente's SWIFT identifier. Here's its breakdown:

  • Bank Code (OCCI): Identifies Banco de Occidente
  • Country Code (CO): Indicates Colombia as the bank's location
  • Location Code (BC): Specifies the bank's headquarters
  • Branch Code (BAQ): Designates the Barranquilla branch. A terminal 'XXX' typically indicates the bank's head office.

Essential Verification Steps for SWIFT Transfers

To ensure successful international transfers using SWIFT codes, consider these critical checks:

  • Bank Name Verification: Confirm the recipient bank's exact legal name matches your records. Minor discrepancies can cause transaction failures.
  • Branch Specificity: When using branch-specific codes, verify the branch location corresponds to the recipient's account location.
  • Country Confirmation: Validate that the SWIFT code's country designation matches the recipient bank's actual location.

Consequences of Incorrect SWIFT Codes

Using inaccurate SWIFT information may result in:

  • Processing Delays: Financial institutions require additional time to investigate misdirected transfers.
  • Transaction Failures: Funds may be returned to the originating account or held in limbo.
  • Additional Charges: Banks often impose fees for correcting or returning erroneous transfers.

While OCCICOBCBAQ serves as a valid identifier for Banco de Occidente transactions, meticulous verification of all transfer details remains essential for successful international payments. Understanding SWIFT code functionality enhances the security and efficiency of global financial transactions.

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