Imagine an international transfer from Europe to Brazil's Banco da Amazonia delayed mid-journey due to a minor SWIFT code error, potentially causing financial setbacks and additional fees. To prevent such scenarios, this article provides a comprehensive guide to Banco da Amazonia S.A.'s SWIFT/BIC codes in Brazil, along with detailed instructions for secure cross-border transactions.
I. The Purpose and Function of SWIFT/BIC Codes
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), serves as an international standard for identifying financial institutions globally. This 8-11 character code ensures accurate routing of funds in international transfers, acting as an essential "passport" for cross-border payments.
II. Banco da Amazonia's Primary SWIFT/BIC Code
Banco da Amazonia's primary SWIFT/BIC code for most international transactions is AMABBRABXXX . This default code applies when recipients don't specify branch-specific codes. However, different branches or services may use distinct codes, so verification with the recipient or bank is strongly recommended before initiating transfers.
III. Decoding AMABBRABXXX
The structure of AMABBRABXXX reveals specific information:
- AMAB : Bank identifier for Banco da Amazonia
- BR : Country code for Brazil
- AB : Location code indicating the bank's region
- XXX : Branch code (XXX typically denotes the head office)
IV. When to Use AMABBRABXXX
This primary code is appropriate when:
- Sending international transfers to Banco da Amazonia in Brazil
- The recipient hasn't provided a branch-specific code
- Transactions are processed through the bank's central office
- Using a widely recognized default code is preferred
V. Locating Branch-Specific Information
For branch-specific SWIFT codes, Banco da Amazonia's official website provides comprehensive branch listings including addresses, contact details, and corresponding codes (if different from the primary code). Direct consultation with bank representatives can confirm the most accurate information for specific branches.
VI. Step-by-Step International Transfer Guide
To ensure successful transfers to Banco da Amazonia accounts:
- Collect complete banking details including the recipient's full name, account number, and the correct SWIFT/BIC code (preferably branch-specific if available).
- Select a transfer method through bank branches, online banking, mobile apps, or specialized remittance services, comparing fees and processing times.
- Complete the transfer form with meticulous attention to all details, particularly the SWIFT code, account number, and recipient name.
- Understand all applicable fees including potential intermediary bank charges.
- Retain transaction documentation for reference and potential troubleshooting.
VII. Common Pitfalls to Avoid
Minor errors can cause significant delays. Pay special attention to:
- Exact SWIFT/BIC code verification
- Precise account number entry
- Complete recipient name matching bank records exactly
- Potential intermediary bank requirements
VIII. Addressing Transfer Errors
If errors are detected after submission, immediately contact the sending bank or service provider. While cancellation or correction may be possible depending on the transfer's status, completed transactions may require coordination with the recipient bank for fund recovery.
IX. Receiving International Funds
For incoming international transfers to Banco da Amazonia accounts, provide senders with:
- Your full legal name (exactly as registered with the bank)
- Complete account number
- Correct SWIFT/BIC code (AMABBRABXXX or branch-specific alternative)
- Bank address details
X. About Banco da Amazonia
Banco da Amazonia S.A. serves as a key regional financial institution in Brazil, specializing in economic development services for the Amazon region. Its support for local agriculture, industry, and commerce makes understanding its international banking codes particularly important for global transactions.