Imagine an important international payment stuck in the banking system due to a minor error in the SWIFT code, unable to reach the recipient on time. This frustrating scenario can be avoided with accurate information, especially when dealing with cross-border transfers to National Bank Limited in Bangladesh. This article provides a comprehensive guide to the bank's SWIFT codes to facilitate seamless international transactions.
What Is a SWIFT Code and Why Does It Matter?
A SWIFT code (also known as a BIC code) is a unique identifier assigned to financial institutions worldwide by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Functioning as an international passport for banks, it ensures funds are routed correctly during cross-border transfers. A standard SWIFT code consists of 8 or 11 characters representing the bank, country, location, and optional branch code.
For international wire transfers, providing the correct SWIFT code is essential. Errors can lead to delays, returned payments, or even lost funds. Always verify the recipient bank's SWIFT code before initiating a transfer.
National Bank Limited's Primary SWIFT Code
The main SWIFT code for National Bank Limited is NBLBBDDHXXX , which breaks down as follows:
- NBLB : Bank code for National Bank Limited
- BD : Country code for Bangladesh
- DH : Location code for Dhaka (the capital)
- XXX : Branch code (XXX indicates the head office)
Branch-Specific SWIFT Codes: Key Considerations
While NBLBBDDHXXX serves as the primary SWIFT code, specific branches of National Bank Limited may use different codes. Using an incorrect branch code could delay your transfer or route it to the wrong location. Always confirm the exact SWIFT code with the recipient or the bank.
How to Find Branch-Specific SWIFT Codes
To locate the correct SWIFT code for a particular branch:
- Contact the recipient : Ask them to verify the SWIFT code with their branch.
- Reach out to National Bank Limited : Customer service can provide branch-specific codes.
- Use online SWIFT code directories : Platforms like XE offer search tools, but always cross-check with the bank.
Sample SWIFT Codes for Select Branches
The following are examples of branch-specific SWIFT codes (always confirm before use):
- 48, DILKUSHA C/A, DHAKA : NBLBBDDH001
- 34 CHAND MEAH LANE, CHITTAGONG : NBLBBDDH002
- 1 MOULVI BAZAR, DHAKA : NBLBBDDH003
- 67, AGRABAD C/A, CHITTAGONG : NBLBBDDH004
- 106-109 SHAHEB BAZAR, RAJSHAHI : NBLBBDDH005
When to Use the Primary SWIFT Code (NBLBBDDHXXX)
Use the main SWIFT code in these scenarios:
- The recipient hasn't provided a branch-specific code.
- Payments are processed centrally by the head office.
- You need a widely accepted default code.
Verification Checklist Before Sending Funds
Always double-check these details:
- SWIFT code : Must match the recipient bank exactly.
- Account number : Ensure no digits are transposed.
- Recipient name : Must align with the bank account records.
Minor discrepancies can cause significant delays. If you spot an error after sending, contact your bank immediately.
Receiving International Payments
To receive funds from abroad into your National Bank Limited account, provide the sender with:
- Your full name (as registered with the bank)
- Your account number
- The correct SWIFT code (NBLBBDDHXXX or branch-specific)
- Your branch's physical address
Frequently Asked Questions
Is there a difference between SWIFT and BIC codes?
No—BIC stands for Bank Identifier Code, and SWIFT is the organization that assigns these codes.
What happens if I use the wrong SWIFT code?
The transfer may be delayed, returned, or lost. Contact your bank promptly to resolve the issue.
Are SWIFT transfers secure?
The SWIFT network is highly secure, but always verify recipient details to prevent fraud.
Are there alternatives to SWIFT transfers?
Yes, options like Western Union or MoneyGram exist, but they differ in fees, speed, and security.
Conclusion
Accurate SWIFT codes are critical for successful international transfers to National Bank Limited in Bangladesh. Always verify the code with the recipient or bank and meticulously review all transaction details. This guide provides the essential information to ensure your cross-border payments proceed smoothly.