Imagine an important international money transfer delayed in the vast financial network due to a minor error, risking late receipt or even return. This scenario is not alarmist—accurate bank identification codes are crucial for cross-border transactions. This article focuses on BANQUE EXTERIEURE D'ALGERIE's SWIFT/BIC code BEXADZAL002, explaining its structure, purpose, and how to avoid potential issues caused by incorrect codes to ensure your funds reach their destination safely and efficiently.
BANQUE EXTERIEURE D'ALGERIE SWIFT Code: BEXADZAL002
In international money transfers, SWIFT codes (also called BIC codes) serve as a bank's unique "identity card," identifying specific banks and branches worldwide. BANQUE EXTERIEURE D'ALGERIE's SWIFT code is BEXADZAL002. This code ensures cross-border payments are accurately routed to the bank's branch at CENTRE DES ARTS, 108, EL MADANIA, ALGIERS, 16015, Algeria.
When to Use BEXADZAL002?
You must use BEXADZAL002 when sending money to a BANQUE EXTERIEURE D'ALGERIE account at the address mentioned above. Before initiating a transfer, always verify the SWIFT code with the recipient or bank to prevent unnecessary delays or errors.
Structure of the BEXADZAL002 SWIFT/BIC Code
SWIFT/BIC codes consist of 8 to 11 characters, each representing specific information. BEXADZAL002 breaks down as follows:
- Bank Code (BEXA): The first 4 characters identify the bank—here, BANQUE EXTERIEURE D'ALGERIE.
- Country Code (DZ): The next 2 characters indicate the country—DZ for Algeria.
- Location Code (AL): The following 2 characters represent the bank's headquarters location.
- Branch Code (002): The last 3 characters specify a particular branch. If the code ends with "XXX," it refers to the bank's headquarters.
Summary of Code Structure:
- BEXA: Bank Code (BANQUE EXTERIEURE D'ALGERIE)
- DZ: Country Code (Algeria)
- AL: Location Code
- 002: Branch Code
Key Information About BANQUE EXTERIEURE D'ALGERIE's SWIFT/BIC Code
- SWIFT Code: BEXADZAL002
- 8-character SWIFT Code: BEXADZAL
- Branch Code: 002
- Bank Name: BANQUE EXTERIEURE D'ALGERIE
- Branch Name: BANQUE EXTERIEURE D'ALGERIE
- Address: CENTRE DES ARTS
- City: EL MADANIA
- Country: Algeria
Ensuring SWIFT Code Accuracy: Avoiding Transfer Issues
Using the correct SWIFT code is essential to prevent delays or errors in international transfers. Before using a SWIFT code, verify the following:
- Bank Name: Confirm the bank name matches the recipient's bank.
- Branch Name: If using a branch-specific SWIFT code, ensure it matches the recipient's branch.
- Country: Verify the SWIFT code corresponds to the destination bank's country.
SWIFT Codes: The Passport for International Transfers
SWIFT codes uniquely identify banks and financial institutions worldwide for international money transfers. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. These codes ensure payments reach the correct bank and country. A typical SWIFT code contains 8 or 11 characters, including information about the bank, country, location, and sometimes specific branches.
Do All Branches Use the Same SWIFT Code?
Not always. Some banks use a single SWIFT code for all branches (typically the headquarters code ending with XXX). Others assign unique SWIFT codes to individual branches, often distinguished by the last three characters. If the recipient provides a branch-specific code, using it may speed up processing or ensure the payment reaches the correct location faster.
When Should You Use BEXADZAL002?
Use BEXADZAL002 when sending or receiving international wire transfers to BANQUE EXTERIEURE D'ALGERIE at the specified city and address. It identifies the recipient's bank and branch, particularly for cross-border transfers via the SWIFT network. Some countries and payment types may not require a SWIFT code, so always verify with the recipient or bank before initiating a transfer.
Meaning of the SWIFT/BIC Code BEXADZAL002
The SWIFT/BIC code BEXADZAL002 is used for international transfers to BANQUE EXTERIEURE D'ALGERIE. Here's what each part means:
- BEXA – Bank Code (BANQUE EXTERIEURE D'ALGERIE)
- DZ – Country Code (Algeria)
- AL – Location Code (bank headquarters)
- 002 – Branch Code (if "XXX," it refers to the main office)
Does BANQUE EXTERIEURE D'ALGERIE Have Multiple Branches?
Yes, BANQUE EXTERIEURE D'ALGERIE may operate multiple branches. Each branch may serve different regions, offer different services, and some may even use different SWIFT codes for international wire transfers. When providing payment instructions, it's important to identify the specific branch where the account is held.
What Happens If You Use the Wrong SWIFT Code for BANQUE EXTERIEURE D'ALGERIE?
Using an incorrect SWIFT code may delay your payment, route it incorrectly, or even cause the receiving bank to reject it. In some cases, funds may be returned to the sender with additional fees. Always ensure the SWIFT code matches your branch or the official headquarters code. If unsure, contact BANQUE EXTERIEURE D'ALGERIE before making the transfer.