Imagine urgently needing to send money from abroad to a friend in Cambodia who uses AMK Bank, only to have the transfer returned due to an incorrect SWIFT code—delaying critical financial support. Cross-border payments may seem straightforward, but hidden complexities can turn a simple transaction into a costly ordeal. A single error in the SWIFT code can lead to delays or even lost funds. This guide explores the correct SWIFT code for Cambodia’s AMK Bank and offers practical tips to ensure secure and efficient international transfers.
What Is a SWIFT/BIC Code?
Before diving into AMK Bank’s specific details, it’s essential to understand the role of SWIFT/BIC codes in international banking. A SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as a BIC (Bank Identifier Code), is a unique alphanumeric identifier used to facilitate cross-border transactions between financial institutions. Think of it as a bank’s "international passport," ensuring funds reach the correct destination.
AMK Bank’s SWIFT/BIC Code: AMIUKHPPXXX
AMK Microfinance Institution PLC, commonly known as AMK Bank, uses the primary SWIFT/BIC code AMIUKHPPXXX . Here’s how to decode it:
- AMIU: Bank code for AMK Bank.
- KH: Country code for Cambodia.
- PP: Location code for Phnom Penh.
- XXX: Branch code (XXX typically denotes the bank’s head office).
Key Considerations: Branch-Specific Variations
While AMIUKHPPXXX serves as the primary SWIFT code, AMK Bank may assign distinct codes to individual branches. To avoid misdirected payments, always confirm the recipient’s exact branch code before initiating a transfer.
When to Use AMIUKHPPXXX
This default code is appropriate when:
- Sending funds internationally to AMK Bank in Cambodia.
- The recipient hasn’t specified a branch-specific SWIFT code.
- Transactions are processed centrally through AMK Bank’s headquarters.
How to Verify Branch-Specific SWIFT Codes
For accuracy, follow these steps:
- Contact the recipient: Request confirmation of their branch’s SWIFT code directly from AMK Bank.
- Check AMK Bank’s official website: Some banks publish branch-specific codes online, though independent verification is advised.
- Reach out to AMK Bank’s customer service: Use verified contact channels to inquire about branch details.
Critical Tips for Error-Free Cross-Border Transfers
To minimize risks, adhere to these guidelines:
- Double-check the SWIFT code: Even minor typos can derail transactions.
- Verify recipient account details: Ensure names and account numbers match bank records exactly.
- Understand fee structures: Banks and intermediaries may charge varying fees—clarify costs upfront.
- Monitor exchange rates: Currency fluctuations affect final amounts received; time your transfer strategically.
- Save transaction records: Retain proof of payment for reference or dispute resolution.
What If You Enter Incorrect Details?
If errors occur, contact your bank immediately. While some mistakes can be rectified, success depends on the error type and the recipient bank’s policies. Prevention remains the best strategy.
Information Required to Receive International Transfers
To receive funds via AMK Bank, provide the sender with:
- Your full name (as registered with the bank).
- Your AMK Bank account number.
- The correct SWIFT code (AMIUKHPPXXX or branch-specific alternative).
- Bank name: AMK Microfinance Institution PLC.
- Bank address: AMK Building, 285 Yothapol Khemarak Phoumin Blvd, Phnom Penh, Cambodia.
Conclusion
Navigating cross-border payments requires attention to detail, but with accurate SWIFT codes and verified banking information, transactions can proceed smoothly. By following these best practices, senders and recipients alike can mitigate risks and ensure timely fund delivery.