DFCC Bank Sri Lanka Simplifies SWIFT Transfers

This article provides a detailed overview of the SWIFT code (DFCCLKLXXXX) for DFCC Bank in Sri Lanka. It explains the importance and usage scenarios of SWIFT codes and offers practical tips to avoid errors. Furthermore, it guides users on how to receive international money transfers into DFCC Bank accounts. The aim is to assist users in conducting cross-border remittances efficiently and securely, ensuring a smooth and safe transaction process when dealing with DFCC Bank's international transfers.

Imagine an important international payment delayed for days due to a minor error in the SWIFT code. For individuals and businesses conducting transactions with Sri Lanka's DFCC Bank, accurate knowledge of its SWIFT code is essential. This comprehensive guide provides everything you need to know about DFCC Bank's SWIFT code to ensure smooth cross-border transactions.

Understanding SWIFT/BIC Codes

Before examining DFCC Bank's specific SWIFT code, it's important to understand what SWIFT/BIC codes represent. SWIFT (Society for Worldwide Interbank Financial Telecommunication) codes, also called BIC (Bank Identifier Codes), are international standard identifiers for financial institutions. These codes function as a bank's unique "ID card," ensuring funds are transferred accurately and securely between banks worldwide.

SWIFT codes typically consist of 8 or 11 characters containing:

Bank code (4 letters)
Country code (2 letters)
Location code (2 characters)
Optional branch code (3 characters)

DFCC Bank's Primary SWIFT Code

DFCC Bank PLC's primary SWIFT/BIC code is DFCCLKLXXXX . This code breaks down as follows:

DFCC: Bank code identifying DFCC Bank
LK: Country code for Sri Lanka
LX: Location code for Colombo
XXX: Branch code (XXX indicates the bank's headquarters)

When to Use DFCCLKLXXXX

While DFCCLKLXXXX serves as the bank's primary SWIFT code, consider using it in these situations:

Sending international payments to DFCC Bank accounts
When the recipient hasn't provided a specific branch code
For payments processed through DFCC Bank's headquarters
As a widely recognized default code for general transactions

The Importance of Accurate SWIFT Codes

Using correct SWIFT codes is critical for successful international transfers. Errors can lead to:

Payment delays due to misrouted funds
Failed transactions resulting in returned payments
Additional bank charges for correcting errors

Preventing SWIFT Code Mistakes

Follow these best practices to avoid SWIFT code errors:

Always confirm the SWIFT code directly with the recipient
Double-check every character when entering the code
Verify codes through reliable financial institution directories
Contact DFCC Bank for official confirmation when uncertain

Receiving International Payments to DFCC Bank

To receive international payments to your DFCC Bank account, provide these details to the sender:

Your full name and address (matching bank records)
Your complete DFCC Bank account number
DFCC Bank's SWIFT code (DFCCLKLXXXX or specific branch code)
Bank's full name (DFCC Bank PLC) and address (73/5 Galle Road, Colombo 3, Sri Lanka)

Additional Considerations

Several factors may affect international transfers to DFCC Bank:

Some DFCC Bank branches may have unique SWIFT codes
Certain transactions might require intermediary bank information
International transfers typically involve various fees

Accurate SWIFT codes are fundamental for successful international banking with DFCC Bank. By understanding and properly using these codes, individuals and businesses can ensure efficient cross-border transactions while avoiding common pitfalls. Always verify payment details before initiating transfers to guarantee smooth financial operations.