Imagine a cross-border payment delayed or even returned due to a minor error in the transaction details. Such setbacks not only disrupt cash flow but may also incur additional fees. In international financial transactions, the SWIFT code serves as a critical identifier—akin to a bank's "passport"—ensuring funds reach their intended destination accurately and efficiently. This article provides an in-depth analysis of the SWIFT code for Rupali Bank PLC. in Bangladesh ( RUPBBDDHAGC ), equipping you with the knowledge to execute seamless cross-border transfers.
SWIFT Code: The Universal Passport for International Payments
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as the BIC (Bank Identifier Code), is a standardized alphanumeric code used in international wire transfers to identify specific banks and their branches. Comprising 8 or 11 characters, the SWIFT code is indispensable for ensuring the smooth processing of cross-border transactions. Errors in this code can lead to delays, misrouted funds, or even financial losses.
Decoding Rupali Bank's SWIFT Code: RUPBBDDHAGC
The SWIFT code for Rupali Bank PLC. is RUPBBDDHAGC . Below is a breakdown of its components:
| Code Segment | Meaning | Description |
|---|---|---|
| RUPB | Bank Code | Identifies Rupali Bank PLC. |
| BD | Country Code | Denotes Bangladesh as the bank's country. |
| DH | Location Code | Indicates the bank's headquarters location. |
| AGC | Branch Code | Specifies the particular branch. "XXX" would indicate the head office. |
Why Accuracy Matters
Using the correct SWIFT code is non-negotiable for successful international transactions. Even a single misplaced character can result in the funds being routed to the wrong institution or held in limbo. Financial institutions may charge fees to rectify such errors, and the delays can disrupt business operations or personal financial plans.
For transactions involving Rupali Bank PLC., always verify the SWIFT code ( RUPBBDDHAGC ) with the recipient or the bank directly to avoid complications. Double-checking this detail ensures your funds are transferred securely and without unnecessary hurdles.