Tunisian Banks Adopt SWIFT Codes for Secure Global Transfers

This article analyzes the SWIFT code UTUBTNTTXXX of the Tunisian Foreign Trade Bank (Banque Tunisienne de Commerce Extérieur), explaining its importance, structure, and usage. It emphasizes the need for accurate information verification during cross-border remittances and provides guidance on how to handle errors. Understanding the SWIFT code is crucial for ensuring the smooth and secure transfer of funds internationally, especially when dealing with Tunisian banks. Proper verification minimizes delays and potential complications in international financial transactions.

Imagine saving diligently to send money to loved ones in Tunisia, only to have the transfer delayed because of an incorrect SWIFT code. International money transfers, while seemingly straightforward, contain complexities—particularly regarding SWIFT codes. This guide focuses on Tunisian Foreign Bank's SWIFT code to help ensure smooth transactions.

What Is a SWIFT Code and Why Does It Matter?

A SWIFT code, also known as a Bank Identifier Code (BIC), serves as a bank's unique identifier in global transactions. Comprising 8 to 11 alphanumeric characters, it ensures funds reach the correct financial institution during international transfers.

Tunisian Foreign Bank's SWIFT Code: UTUBTNTTXXX

The primary SWIFT code for Tunisian Foreign Bank is UTUBTNTTXXX . This code acts as the bank's international identifier. When sending money to this institution without knowledge of a specific branch code, using this primary SWIFT code is generally sufficient.

Breaking Down UTUBTNTTXXX

Each segment of the SWIFT code provides specific information:

UTUB: Bank code (Tunisian Foreign Bank)
TN: Country code (Tunisia)
TT: Location code (Tunis)
XXX: Branch code (typically indicates the head office)

When to Use UTUBTNTTXXX

This SWIFT code applies in several scenarios:

Sending international transfers to Tunisian Foreign Bank
When the recipient hasn't provided a specific branch code
If the bank processes all international payments through its headquarters
When a default, widely accepted SWIFT code is needed

Does Tunisian Foreign Bank Have Multiple SWIFT Codes?

Yes. Like many banks with multiple branches, Tunisian Foreign Bank may have distinct SWIFT codes for different locations. For precise transfers, always verify the recipient's specific branch code.

How to Find Branch-Specific SWIFT Codes

Ask the recipient: The most reliable method is to have the account holder confirm their branch's code.
Contact the bank directly: Tunisian Foreign Bank can provide official SWIFT code information.
Use online tools: While some websites offer SWIFT code searches, their accuracy may vary—always double-check with the bank.

Essential Information for International Transfers

Beyond the SWIFT code, include these details:

Recipient's full name (exactly as it appears on the bank account)
Recipient's account number
Recipient's address (if required by the bank)
Transfer amount and currency
Purpose of the transfer (some banks require this)

Critical Reminder: Verify All Details

Errors in SWIFT codes or account numbers can delay transactions or cause funds to be frozen. If mistakes occur, immediately contact your bank to rectify the information.

Receiving International Transfers

To receive money from abroad, provide the sender with:

Your bank's name (Tunisian Foreign Bank)
Your branch's SWIFT code
Your account number
Your full name and address (matching bank records)

Conclusion

International money transfers require attention to detail, particularly regarding SWIFT codes. By verifying all information and using reliable banking channels, you can ensure secure and efficient transactions with Tunisian Foreign Bank.