International transfers to Arab African International Bank (AAIB) in Egypt can be challenging, especially when dealing with SWIFT codes. A single incorrect character in the banking details may result in delayed funds, additional fees, or even failed transactions. This comprehensive guide provides all the essential information about AAIB's SWIFT codes to ensure secure and efficient cross-border payments.
1. Arab African International Bank SWIFT Code: Your Payment Passport
The primary SWIFT/BIC code for Arab African International Bank is ARAIEGCXXXX . This code serves as the bank's international identifier, enabling global financial systems to accurately route payments to the correct institution.
Important Note: While ARAIEGCXXXX represents AAIB's head office, individual branches may use different codes. To ensure successful transfers:
- Confirm with recipient: Always verify the specific SWIFT code with the beneficiary.
- Contact the bank: Reach out to AAIB directly to confirm the correct branch code.
2. Decoding SWIFT: Understanding the Structure
The SWIFT code ARAIEGCXXXX contains specific information about the financial institution:
- ARAI: Bank identifier for Arab African International Bank
- EG: Country code for Egypt
- CX: Location code (typically for headquarters)
- XXX: Branch identifier (XXX indicates head office)
3. AAIB Egypt Branch SWIFT Codes
Below is a partial listing of AAIB branch codes in Egypt:
- Alexandria Branch (73 Horea Road): ARAIEGCXALE
- Cairo Branch (54D Gomhoria Street): ARAIEGCXALF
- Alexandria Branch (24 Bani El-Abbas Street): ARAIEGCXALX
- Industrial Area Branch (3rd Industrial Zone): ARAIEGCXASH
- Borg El Arab Branch (Banks Area): ARAIEGCXBRG
- Garden City Branch (5 Midan Al Saray Al Koubra): ARAIEGCXBUD
- Cairo Branch (44 Abdel Khaleq Sarwat Street): ARAIEGCXCAI
- Cairo Branch (44 Abdel Khaleq Sarwat): ARAIEGCXCOL
Note: This list is not exhaustive. Always confirm the exact code with the recipient.
4. When to Use the Head Office SWIFT Code
The head office code (ARAIEGCXXXX) may be appropriate when:
- The recipient hasn't provided a specific branch code
- The bank processes all international transfers centrally
- As a fallback option when branch information is unavailable
Important: Using the head office code may delay processing or result in returned funds. Always obtain the precise branch code when possible.
5. Essential Information for Successful Transfers
Beyond the correct SWIFT code, ensure you provide:
- Exact beneficiary name: Must match the account registration precisely
- Correct account number: Verify all digits carefully
- Recipient address: Supports identity verification
- Currency specification: Prevents unnecessary conversions
- Payment purpose: Include clear transaction details
6. Recipient Guidelines for International Payments
If expecting international transfers to your AAIB account:
- Provide complete and accurate banking details to senders
- Verify all transaction information before processing
- Monitor bank notifications for incoming transfers
7. Frequently Asked Questions
Q: What's the difference between SWIFT and BIC codes?
A: These terms are interchangeable. SWIFT is the official designation, while BIC (Bank Identifier Code) is the common industry term.
Q: What happens if I use an incorrect SWIFT code?
A: Incorrect codes may cause payment delays, returns, or misrouting, potentially incurring additional fees.
Q: Where can I find SWIFT codes?
A: Sources include the bank's official website, dedicated SWIFT code directories, or direct inquiries with AAIB customer service.
8. Conclusion: Accuracy Ensures Successful Transfers
International payments to Arab African International Bank require precise information, particularly the correct SWIFT code. By following these guidelines and verifying all details, senders and recipients can facilitate smooth, secure cross-border transactions.