Imagine a cross-border payment lost in the labyrinth of global finance due to a simple coding error. SWIFT codes, the international bank identification system, exist precisely to prevent such scenarios. This article examines UNITED BANK LIMITED's SWIFT code UNILPKKA939, explaining its vital function in international transfers and providing practical guidance for users.
Understanding SWIFT Codes: Structure and Purpose
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), serves as a unique 8 to 11-character alphanumeric identifier for financial institutions worldwide. UNILPKKA939 specifically identifies UNITED BANK LIMITED, ensuring funds reach their intended destination accurately during international transactions.
Essential Considerations When Using UNILPKKA939
When initiating international transfers using UNILPKKA939, observe these critical precautions to ensure successful transactions:
- Bank Name Verification: Confirm the recipient bank's name matches UNITED BANK LIMITED exactly to prevent misdirected payments due to similar institution names.
- Branch Information: While the head office SWIFT code (UNILPKKA939) typically suffices, verify whether specific branch codes are required if the recipient provides such details.
- Country Validation: As UNITED BANK LIMITED operates across multiple jurisdictions, ensure the SWIFT code corresponds with the recipient's country of residence.
Preventing Transfer Delays from SWIFT Code Errors
To avoid costly delays or failed transactions caused by incorrect SWIFT codes, financial experts recommend:
- Direct verification of the code with the recipient or their banking institution
- Utilizing online SWIFT code validation tools available through banking portals
- Double-checking all transaction details before submission
Proper SWIFT code implementation remains fundamental to efficient international banking. This examination of UNILPKKA939 provides account holders with the knowledge required to conduct secure, error-free cross-border financial transfers.