Imagine a cross-border payment delayed in the banking system due to a minor SWIFT code error, causing not only late fund arrival but potentially additional fees. In international financial transactions, SWIFT codes serve as critical "passports" for secure and efficient cross-border payments between banks.
ABI's SWIFT/BIC Code: EMPOALTRXXX
The primary SWIFT/BIC code for American Bank of Investments (ABI) in Albania is EMPOALTRXXX. However, it's important to note that ABI may use different SWIFT/BIC codes for specific services or branches. When initiating international transfers, always verify the exact SWIFT code provided by the recipient. If uncertain about which code to use, contact either the recipient or ABI directly for confirmation to ensure smooth transaction processing.
Structure and Meaning of SWIFT Codes
SWIFT codes (also called BIC codes) consist of 8 or 11 characters that uniquely identify financial institutions. The structure typically includes:
- Bank code (4 characters): The institution's unique identifier (e.g., EMPO for ABI)
- Country code (2 characters): The nation where the bank is located (AL for Albania)
- Location code (2 characters): Identifies the bank's headquarters city (TR for Tirana)
- Branch code (3 characters): Optional field specifying particular branches (XXX typically denotes the main office)
Key Information for ABI Transfers
- Bank Name: AMERICAN BANK OF INVESTMENTS S.A.
- SWIFT Code: EMPOALTRXXX
- Address: HYRJA 1, RRUGA E KAVAJES NDERTESA 27
- City: TIRANA
- Country: ALBANIA
When to Use ABI's Primary SWIFT Code
The primary SWIFT code EMPOALTRXXX applies in these common scenarios:
- Sending international transfers to ABI accounts in Albania
- When recipients haven't provided branch-specific SWIFT codes
- For transactions processed through ABI's centralized payment system
- When systems require a default SWIFT code for processing
Ensuring Successful International Transfers to ABI
To guarantee smooth fund transfers to ABI accounts, provide these precise details to senders:
- Accurate SWIFT/BIC code (most critical element)
- Complete bank account number including account type
- Recipient's full legal name as registered with the bank
- Recipient's address matching bank records
- Clear purpose of payment (e.g., commercial invoice, family support)
Avoiding Transfer Delays: Key Considerations
- Double-check all information, especially SWIFT codes and account numbers
- Understand applicable fees including handling charges and intermediary bank costs
- Select appropriate transfer methods (wire transfers vs. online platforms) based on speed and cost needs
- Monitor exchange rate fluctuations that may affect final received amounts
- Retain all transaction documentation for reference
ABI Branch Network in Albania
While specific branch details aren't listed here, customers can obtain current branch information through ABI's official channels. Some branch-specific transactions may require using particular SWIFT codes rather than the primary code.
Conclusion
Correct SWIFT code usage forms the foundation of successful international banking. This guide provides comprehensive information about American Bank of Investments' SWIFT codes and transfer procedures. Always verify details with recipients or bank representatives to ensure secure and timely cross-border payments. Understanding transfer processes, fees, and potential pitfalls enables smoother international financial transactions.