The Critical Role of SWIFT Codes in International Transfers
When initiating international money transfers to Central Cooperative Bank (CCB) in Bulgaria, one crucial detail demands attention: the SWIFT code. This banking identifier serves as a financial GPS, ensuring funds reach their intended destination without delays or additional charges.
CCB's Primary SWIFT/BIC Code: CECBBGSFXXX
The standard SWIFT/BIC code for CENTRAL COOPERATIVE BANK PLC in Bulgaria is:
- Bank Name: CENTRAL COOPERATIVE BANK PLC
- SWIFT Code: CECBBGSFXXX
- Bank Address: TSARIGRADSKO SHOSE BLVD 87
- City: SOFIA
- Country: BULGARIA
When to Use CCB's Primary SWIFT Code
This universal identifier applies in several scenarios:
- International transfers to CCB accounts in Bulgaria
- Transactions where recipients haven't specified branch codes
- Payments processed through CCB's central operations
- Standardized international payment procedures
Branch-Specific Codes and Verification
While the primary code suffices for most transactions, some CCB branches may use distinct identifiers. For optimal accuracy:
- Confirm branch-specific codes directly with recipients
- Consult CCB's official channels for verification
Critical Information for Outbound Transfers
Before initiating SWIFT payments, verify these essential details:
- Precise alignment between SWIFT code and recipient bank
- Exact account number and beneficiary name
- Complete bank address information
Receiving International Funds at CCB
For incoming international transfers to CCB accounts, provide senders with:
- Correct SWIFT/BIC code (CECBBGSFXXX)
- Full account details
- Any supplementary banking information required
Understanding SWIFT Codes
SWIFT (Society for Worldwide Interbank Financial Telecommunication) codes, also called BICs (Bank Identifier Codes), represent standardized identifiers for financial institutions worldwide. These 8-11 character codes facilitate secure international transactions by precisely identifying recipient banks.
Frequently Asked Questions
What happens with incorrect SWIFT codes?
Transactions may experience delays, returns, or misrouting to unintended accounts.
How does SWIFT differ from IBAN?
SWIFT identifies banks, while IBAN (International Bank Account Number) specifies individual accounts.
Risk Management Considerations
Financial institutions recommend independent verification of all transaction details before initiating transfers. While SWIFT codes provide essential routing information, their accuracy remains the sender's responsibility.