Imagine an important international money transfer stuck in the vast financial network due to a minor error in the SWIFT code, leaving the anxious recipient waiting endlessly. To avoid such situations and ensure your funds reach UBA Burkina Bank safely and efficiently, knowing the correct SWIFT code is essential. This article provides a detailed explanation of UBA Burkina Bank's SWIFT code to facilitate your cross-border transactions.
What Is a SWIFT/BIC Code?
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), is a unique identification used for international bank transfers to identify specific banks and branches. It serves as a bank's "ID card," ensuring funds reach the correct destination. A standard SWIFT code consists of 8 or 11 characters, including the bank code, country code, location code, and optional branch code.
UBA Burkina Bank's SWIFT Code: BIBUBFBFXXX
The primary SWIFT/BIC code for UBA Burkina Bank is BIBUBFBFXXX . This code contains the following information:
- BIBU: Bank code representing UBA Burkina Bank.
- BF: Country code for Burkina Faso.
- BF: Location code indicating the bank's headquarters.
- XXX: Branch code, typically used to specify a particular branch. If no specific branch code is provided, XXX serves as the default.
When to Use BIBUBFBFXXX?
You should use UBA Burkina Bank's primary SWIFT/BIC code BIBUBFBFXXX in the following situations:
- Making international transfers to UBA Burkina Bank in Burkina Faso: This is the most common scenario.
- The recipient hasn't provided a specific branch SWIFT/BIC code: If only the bank name and account number are available, use the primary code.
- UBA Burkina Bank processes payments through its main office: Even if the recipient's account is at a different branch, the primary code may still be used.
- Needing a widely accepted standard SWIFT/BIC code: This is UBA Burkina Bank's official code, recognized globally.
UBA Burkina Bank Branches in Burkina Faso
While BIBUBFBFXXX is the primary SWIFT code for UBA Burkina Bank, the institution may have multiple branches across Burkina Faso. Some branches might have their own unique SWIFT codes. If you know the recipient's specific branch code, using it may expedite processing. However, if the branch code is unavailable, BIBUBFBFXXX remains a valid option.
How to Find UBA Burkina Bank Branch SWIFT Codes?
The best methods to locate branch-specific SWIFT codes include:
- Contacting the recipient directly: The most reliable approach is to ask the recipient to confirm the correct SWIFT code with their branch.
- Reaching out to UBA Burkina Bank: You can call or email the bank to inquire about specific branch codes.
- Using online SWIFT code lookup tools: Some websites provide SWIFT code search functions, though users should verify the accuracy of the information.
Important Reminders for SWIFT Transfers
When completing a SWIFT transfer form, double-check these details:
- Recipient bank's SWIFT/BIC code: Ensure it matches exactly with no typos.
- Recipient's bank account number: This is crucial for successful fund delivery.
- Recipient's name and address: Must match the bank's records precisely.
- Transfer amount and currency: Verify these to prevent processing errors.
- Payment reference: Include notes like payment purpose or invoice numbers if needed.
Frequently Asked Questions About SWIFT Transfers
- How long do SWIFT transfers take? Typically 1-5 business days, depending on bank processing times and intermediary banks involved.
- What are the fees for SWIFT transfers? Costs vary by bank and transfer amount, usually including sending bank fees, intermediary bank charges, and recipient bank fees.
- What if I made a mistake in the SWIFT transfer details? Contact your bank immediately to attempt cancellation or correction. If funds have already been sent, you may need to work with the recipient's bank.
- How can I track a SWIFT transfer? Most banks provide tracking services using a Unique End-to-End Transaction Reference (UETR) number.
Receiving International Transfers to Your UBA Burkina Bank Account
To receive international transfers to your UBA Burkina Bank account, provide the sender with:
- Your full name and address: Must match your bank records exactly.
- Your UBA Burkina Bank account number: The critical information for fund reception.
- UBA Burkina Bank's SWIFT/BIC code: BIBUBFBFXXX.
Key Considerations
- Always verify the SWIFT code and account number with the recipient or UBA Burkina Bank before initiating transfers.
- Even with a correct SWIFT code, errors in account numbers or recipient names may cause transfer failures.
- Safeguard your banking information to prevent unauthorized access.
This comprehensive guide provides all necessary information about UBA Burkina Bank's SWIFT code for international transactions. Accurate SWIFT code usage is fundamental for successful cross-border transfers. Always verify all details carefully and consult your bank or the recipient bank if any questions arise.