Imagine this scenario: You've worked hard to save money to send to family or friends in Lebanon, only for the funds to get lost in the international banking system due to an incorrect SWIFT code. The money is delayed, possibly even returned, costing you unnecessary fees and causing frustration when the funds are urgently needed. This is a situation everyone wants to avoid.
This article explains how to correctly use SWIFT codes when sending money to BLOM Bank in Lebanon, ensuring your transfer arrives safely and promptly.
What Is a SWIFT Code and Why Is It Important?
A SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as a BIC (Bank Identifier Code), functions as a bank's "international ID." It is a unique identifier used in cross-border transactions to specify a particular bank and its branch. The code consists of 8 or 11 characters, including bank, country, location, and branch details.
When sending money internationally, a SWIFT code is essential. Without it, banks cannot accurately identify the recipient’s bank, leading to failed or delayed transfers. Therefore, always double-check the SWIFT code before initiating a transfer.
BLOM Bank’s SWIFT Code: Differences Between Headquarters and Branches
BLOM Bank’s (BLOM Bank S.A.L.) primary SWIFT code in Lebanon is BLOMLBBXXXX . However, just as individuals have the same ID number but different addresses, BLOM Bank’s branches may use distinct SWIFT codes. While BLOMLBBXXXX is the headquarters' code and generally acceptable, it is best to confirm the exact SWIFT code of the recipient’s specific branch to avoid issues.
How to Find the Correct BLOM Bank SWIFT Code
- Ask the recipient directly: The most reliable method is to have the recipient verify the correct SWIFT code with their branch.
- Contact BLOM Bank: Reach out to BLOM Bank’s customer service or check their official website for branch-specific SWIFT codes.
- Use online SWIFT code lookup tools: Several websites provide SWIFT code searches by bank name and country. However, cross-verify this information with the bank or recipient, as online tools may not always be up to date.
BLOM Bank SWIFT Code Details
Bank Name: BLOM BANK S.A.L.
SWIFT Code (Headquarters): BLOMLBBXXXX
Address: BLOM BUILDING, RASHID KARAMEH STREET
City: BEIRUT
Country: LEBANON
When to Use BLOM Bank’s Headquarters SWIFT Code
You can use BLOMLBBXXXX in the following cases:
- Sending an international transfer to a BLOM Bank account in Lebanon.
- The recipient has not provided a branch-specific SWIFT code.
- BLOM Bank processes payments centrally through its headquarters.
- You prefer using a widely recognized default SWIFT code.
Final Checks Before Sending Money
Before confirming the transfer, carefully review:
- SWIFT Code: Ensure it matches the recipient bank’s exact code.
- Account Number: Verify the recipient’s account number for accuracy.
- Recipient’s Name: Confirm it matches the name on the bank account.
Even minor errors can cause delays or failures. If you notice a mistake after sending the transfer, contact your bank immediately to attempt a recall or correction.
Receiving International Transfers: What You Need to Know
If you expect an international transfer to your BLOM Bank account, provide the sender with:
- Your full name (as it appears on the bank account).
- Your BLOM Bank account number.
- The correct SWIFT code (preferably for your specific branch).
- BLOM Bank’s name and address.
Frequently Asked Questions
How long does a transfer to BLOM Bank take?
International transfers typically take 1-5 business days, depending on the sending bank, intermediary banks, currency, and amount.
What fees apply when sending money to BLOM Bank?
Fees vary and may include charges from the sending bank, intermediary banks, and BLOM Bank. Check with all involved institutions for exact costs.
What if the transfer fails?
If the transfer fails, the funds will be returned minus any applicable fees. Contact your bank to determine the cause and resend the payment if necessary.
Conclusion
International money transfers require attention to detail. Verifying the SWIFT code and recipient details ensures your funds reach their destination without delays or complications. By following these guidelines, you can confidently send money to BLOM Bank in Lebanon.