Imagine funds from overseas being delayed due to a minor SWIFT code error—a frustrating situation that highlights the importance of accurate banking details in today's global economy. For seamless cross-border transfers to the Bank of Palestine, understanding the correct SWIFT/BIC code is essential.
Primary SWIFT Code for Bank of Palestine
The primary SWIFT/BIC code for Bank of Palestine is PALSPS22XXX . This unique identifier functions as the bank's "international passport," ensuring your transfer reaches the correct financial institution within the global banking network.
When to Use This SWIFT Code
The code PALSPS22XXX should be used in these scenarios:
- Sending international transfers to Bank of Palestine accounts
- When recipients provide only the head office code without branch-specific details
- For payments processed through the bank's central operations
- When a universally recognized default code is required
Understanding SWIFT Codes
SWIFT (Society for Worldwide Interbank Financial Telecommunication) codes, also called BIC (Bank Identifier Codes), are 8-11 character alphanumeric identifiers crucial for secure international transactions. These codes prevent payment errors and processing delays across borders.
Potential Code Variations
While PALSPS22XXX serves as the primary identifier, Bank of Palestine may use different codes for specific branches or services. Always verify the exact SWIFT code with your recipient or directly with the bank before initiating transfers to avoid:
- Payment rejections or delays
- Additional processing fees
- Funds being routed incorrectly
Essential Verification Steps
To ensure successful international transfers:
- Double-check all SWIFT code characters
- Confirm recipient account details (name, number, address)
- Understand applicable transfer fees
- Retain transaction documentation
Required Transfer Information
When sending funds internationally to Bank of Palestine, you'll typically need:
- Bank Name: Bank of Palestine PLC
- SWIFT/BIC: PALSPS22XXX
- Account Number: Recipient's complete account details
- Recipient Information: Full legal name and address
- Transfer Details: Amount, currency, and purpose
Correcting Transfer Errors
If you discover incorrect transfer information after submission, immediately contact your bank. Depending on the transaction status, banks may attempt to cancel or amend the transfer, though successful corrections aren't guaranteed and may incur additional charges.
About Bank of Palestine
As Palestine's largest and oldest financial institution, Bank of Palestine PLC maintains an extensive branch network throughout the region. The bank provides comprehensive services to both individual and corporate clients while supporting local economic development.
Receiving International Funds
To receive overseas transfers into your Bank of Palestine account, provide senders with:
- Bank name and correct SWIFT code
- Your complete account number
- Your full legal name and address
The Future of Cross-Border Transfers
Financial technology advancements, including blockchain and AI applications, continue transforming international payments—increasing speed, reducing costs, and enhancing security. These innovations promise to further streamline global financial transactions in coming years.