Imagine a cross-border payment intended for a BGFIBank account in Gabon getting lost in the vast financial network due to a minor error—an inaccurate SWIFT code. To avoid such stressful situations, understanding and correctly using BGFIBank Gabon's SWIFT code is crucial.
This article provides a detailed explanation of BGFIBank Gabon's SWIFT code to help you execute international transfers smoothly and ensure funds reach their destination securely and efficiently.
BGFIBank Gabon's SWIFT/BIC Code: BGFIGALIXXX
BGFIBank Gabon's primary SWIFT/BIC code is BGFIGALIXXX. However, it's important to note that different services or branches of BGFIBank Gabon may use distinct SWIFT/BIC codes. Before initiating a transfer, always verify the exact code with the recipient or directly with BGFIBank Gabon to guarantee successful fund delivery.
SWIFT Code Details
- Bank Name: BGFIBANK
- SWIFT Code: BGFIGALIXXX
- Address: BOULEVARD DE L'INDEPENDANCE
- City: LIBREVILLE
- Country: GABON
The BGFIGALIXXX code serves as BGFIBank Gabon's primary SWIFT/BIC identifier for most international transactions.
Local Branch SWIFT Codes in Gabon
Beyond the primary code, BGFIBank Gabon operates multiple local branches, each potentially having its own SWIFT code. Below are some branch codes for reference:
- BGFIGALIBKZ: BD. DE L'INDEPENDANCE, LIBREVILLE, ESTUAIRE
- BGFIGALIMAL: BD. DE L'INDEPENDANCE, LIBREVILLE, ESTUAIRE
- BGFIGALIOWD: BD. DE L'INDEPENDANCE, LIBREVILLE, ESTUAIRE
- BGFIGALIPOG: BD. DE L'INDEPENDANCE, LIBREVILLE, ESTUAIRE
- BGFIGALIPTN: BD. DE L'INDEPENDANCE, LIBREVILLE, ESTUAIRE
This list may not be exhaustive, and branch codes are subject to change. Always confirm the current branch SWIFT code with the recipient or bank before transferring funds.
When to Use the Primary SWIFT Code BGFIGALIXXX
The primary SWIFT/BIC code BGFIGALIXXX is appropriate in these situations:
- When sending international transfers to BGFIBank accounts in Gabon
- When the recipient hasn't provided a specific branch SWIFT code
- When BGFIBank Gabon processes international payments centrally through its Libreville headquarters
- When uncertain about branch-specific codes, as the primary code generally serves as a safe default
The Critical Role of SWIFT Codes
SWIFT codes (Society for Worldwide Interbank Financial Telecommunication) or BIC (Bank Identifier Codes) serve as unique identifiers for international bank transfers. Functioning as a bank's "international passport," these codes ensure funds reach the correct financial institution and account securely.
In international payments, SWIFT codes perform several vital functions:
- Precisely identify receiving banks to prevent misdirected funds
- Route transfers through appropriate banking networks
- Maintain security within trusted interbank systems
- Expedite processing for greater efficiency
Incorrect or incomplete SWIFT codes may lead to:
- Payment delays
- Failed transfers requiring resubmission
- Additional bank charges for error correction
- Potential fund loss in extreme cases
Locating the Correct SWIFT Code
Several reliable methods exist for verifying SWIFT codes:
- Direct consultation with the recipient
- Reviewing bank statements where codes are typically printed
- Using reputable online SWIFT code search tools
- Contacting BGFIBank Gabon's customer service
Key Considerations for International Transfers
Beyond SWIFT codes, successful cross-border transfers require attention to:
- Accurate recipient name and account number matching bank records
- Correct transfer amount and currency specification
- Proper payment purpose declaration (e.g., commercial payments, family support)
- Understanding applicable fees and exchange rates
- Accounting for processing timelines
- Retaining transfer confirmation for reference
Mastering BGFIBank Gabon's SWIFT code system forms the foundation for successful international money transfers. By carefully verifying codes and observing all transfer requirements, senders can ensure their funds reach Gabonese accounts securely and efficiently.