Imagine a cross-border payment stuck in the banking system due to an incorrect SWIFT code, delaying funds and potentially incurring additional charges. For individuals or businesses needing to transfer money to Union Bank of India, accurate SWIFT code information is crucial. This article provides a comprehensive analysis of Union Bank of India's SWIFT code system to help you avoid payment pitfalls and ensure efficient, secure international transactions.
SWIFT/BIC Codes: The "Passport" of International Payments
In international bank transfers, SWIFT (Society for Worldwide Interbank Financial Telecommunication) codes, also known as BIC (Bank Identifier Codes), serve as critical identifiers. These function like a bank's "passport," uniquely identifying financial institutions and their branches worldwide. When sending funds from abroad to a Union Bank of India account, providing the correct SWIFT code is essential for accurate delivery.
Union Bank of India's Primary SWIFT Code: UBININBBXXX
Union Bank of India's main SWIFT code is UBININBBXXX . However, it's important to note that the bank may use different SWIFT codes for specific services or branches. Before initiating a transfer, always verify the exact SWIFT code with the recipient or Union Bank of India directly to prevent delays or errors.
Decoding UBININBBXXX
- UBIN: The bank code identifying Union Bank of India.
- IN: The country code for India.
- BB: Location code, typically indicating the bank's headquarters in Mumbai.
- XXX: Branch code. This may vary for different branches; XXX usually represents the head office.
Partial List of Union Bank of India Branch SWIFT Codes
The following represents a selection of Union Bank of India branch SWIFT codes. Always verify the most current information before processing transactions:
- Adilabad Branch: UBININBBADI (First Floor, S3-2-29/18, Ambedkar Chowk, Adilabad, Telangana, 504001)
- Agra Branch: UBININBBAGR (Agra Cantonment, S3-2-29/18, Taj Road, Agra, Uttar Pradesh, 282001)
- Ahmedabad Branch: UBININBBAHM (Kaycrest, 41, Ellis Bridge, C.G. Road, Ahmedabad, Gujarat, 380006)
- Akota Branch: UBININBBAKT (G 1, 2, Silvercoin Shrenik Park, Rastasri Sankeswar Parshavnath Marg, Akota, Gujarat, 390020)
- Alkapuri Branch: UBININBBALK (1st Floor, 14-15, National Plaza, R.C. Dutt Road, Alkapuri, Vadodara, Gujarat, 390005)
When to Use the Head Office SWIFT Code (UBININBBXXX)
Consider using Union Bank of India's head office SWIFT code in these situations:
- Transferring to any Union Bank of India account within India
- When the recipient hasn't provided a specific branch code
- When payments are centrally processed through the head office
- When using a widely accepted default code
Key Considerations for International Transfers
- Verify SWIFT codes: Always confirm the code matches the recipient bank and ensure account details are accurate. Minor errors can cause significant delays.
- Bank communication: Immediately contact your bank if you discover incorrect transfer information.
- Complete information: Provide senders with accurate SWIFT/BIC codes, account numbers, and all required banking details to prevent processing delays.
Comparing Transfer Options: Banks vs. Specialist Services
Beyond traditional bank transfers, specialized money transfer services often provide more competitive exchange rates and lower fees, potentially reducing costs. When selecting a service, compare exchange rates, fees, transfer speeds, and security measures to identify the optimal solution for your needs.
Transparent Fee Structures
Prioritize services that clearly disclose all charges before transaction confirmation. Some providers may conceal additional fees, resulting in higher-than-expected costs.
Expedited Transfer Options
In time-sensitive situations, select providers offering accelerated transfer services. Certain companies can facilitate same-day delivery of funds.
Important Disclaimers
- The SWIFT codes, bank names, addresses, and related information provided herein are for reference only. While we strive for accuracy, we cannot guarantee completeness or currentness.
- This information does not constitute an endorsement or verification of any financial institution's legal status or operational integrity.
- All financial transactions conducted based on this information are undertaken at your own risk.
- We strongly recommend independently verifying all details with the relevant financial institution before initiating transactions.
Conclusion
Precise SWIFT code information forms the foundation of successful international transfers. This comprehensive guide to Union Bank of India's SWIFT code system equips you with the knowledge needed for secure, efficient cross-border payments. Always verify SWIFT codes, select appropriate transfer channels, and carefully consider fees and processing times to ensure your funds reach their destination safely and promptly. Diligence and attention to detail remain paramount in international money transfers.