Imagine an overseas payment delayed for weeks due to a minor error in a SWIFT code—an unnecessary headache for both sender and recipient. For international transfers involving Sri Lanka's DFCC Bank, understanding its SWIFT code system is crucial. This guide provides a comprehensive breakdown of DFCC Bank's SWIFT codes to ensure seamless cross-border transactions.
Understanding SWIFT/BIC Codes
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), is an international banking standard used to identify financial institutions globally. Comprising 8 to 11 characters, these codes act as unique identifiers during international wire transfers, ensuring funds reach the correct destination. Functioning as a "banking passport," SWIFT codes are fundamental to secure and efficient cross-border payments.
DFCC Bank's Primary SWIFT Code: DFCCLKLXXXX
DFCC Bank PLC's principal SWIFT code in Sri Lanka is DFCCLKLXXXX . While this serves as the bank's primary identifier, specific branches or services may require alternative codes. Verifying the correct SWIFT code with the recipient or directly with DFCC Bank before initiating transfers is strongly advised to prevent delays or failed transactions.
Decoding DFCCLKLXXXX
- DFCC: Bank code representing DFCC Bank
- LK: Country code for Sri Lanka
- LX: Location code indicating Colombo
- XX: Branch identifier (main office). For specific branches, these characters would be replaced with unique branch codes
When to Use DFCCLKLXXXX
The primary SWIFT code is typically appropriate for:
- International transfers to DFCC Bank accounts
- Situations where no specific branch code is provided
- Transactions processed through the bank's central office
- Cases requiring a universally recognized default code
Verifying SWIFT Codes
To guarantee transaction accuracy:
- Request the exact SWIFT code from the recipient
- Contact DFCC Bank's customer service for confirmation
- Utilize online SWIFT code validation tools
Additional Considerations for International Transfers
Beyond SWIFT codes, successful international remittances require attention to:
- Exact matching of beneficiary name and account number with bank records
- Compatibility of currency with the recipient bank's requirements
- Potential intermediary bank fees affecting the final transfer amount
- Clear documentation of payment purpose for compliance purposes
With numerous branches across Sri Lanka, DFCC Bank may require distinct SWIFT codes for specific locations. While DFCCLKLXXXX serves as the default, confirming branch-specific codes through official channels remains essential for precise transactions.