Imagine a wire transfer from overseas, destined for an account in the Marshall Islands, delayed or even returned due to a minor error in the SWIFT code. Such hiccups not only waste time but may also incur additional fees. In today’s globalized financial landscape, ensuring the accuracy of SWIFT codes is critical. This article provides a detailed breakdown of the Bank of Marshall Islands’ SWIFT code— BOMDMH22XXX —along with practical guidance to facilitate seamless international transactions.
The Bank of Marshall Islands SWIFT Code: BOMDMH22XXX
The primary SWIFT/BIC code for the Bank of Marshall Islands is BOMDMH22XXX . However, it’s important to note that the bank may use different SWIFT codes depending on the service or branch involved. Always verify the correct code with the recipient or the bank itself to avoid complications.
Key details about the code:
- Bank Name: Bank of Marshall Islands
- SWIFT Code: BOMDMH22XXX
- Address: Robert Reimers Enterprises Complex, Uliga
- City: Majuro
- Country: Marshall Islands
This code identifies the bank’s headquarters and is typically used when no specific branch code is required or available.
When to Use BOMDMH22XXX
You can safely use the Bank of Marshall Islands’ primary SWIFT code in the following scenarios:
- International transfers to the bank: Ensures funds reach the correct institution.
- No branch-specific code provided: If the recipient only supplies the bank name and account number, the headquarters code suffices.
- Centralized payment processing: Some banks route international transactions through their main office.
- Default code for uncertainty: When unsure about branch details, the primary code is a reliable fallback.
Pre-Transfer Checklist
Before initiating a SWIFT transfer, double-check the following:
- SWIFT code accuracy: Confirm it matches the recipient’s bank information exactly.
- Account number and name: Ensure no typographical errors exist.
Minor mistakes can lead to delays or failed transactions. If you spot an error post-transfer, contact your bank immediately for assistance.
Receiving International Wire Transfers
To receive funds via the Bank of Marshall Islands, provide the sender with:
- Correct SWIFT/BIC code: BOMDMH22XXX or a branch-specific alternative.
- Your account number.
- Additional bank details: Such as the bank’s address, if required.
Frequently Asked Questions
What is the SWIFT code for the Bank of Marshall Islands’ headquarters?
The code is BOMDMH22XXX, uniquely identifying the bank in Majuro for international payments.
What if I don’t know my branch’s SWIFT code?
Use BOMDMH22XXX as a default, but verify with your bank to prevent delays. Check online banking, statements, or contact customer service for clarity.
Is it safe to use the headquarters’ SWIFT code?
Yes, for most transactions. The bank can route funds using your account details. For large sums, confirm with the bank beforehand.
How do I find my branch’s specific SWIFT code?
Consult the bank’s website, customer service, or account documents. Online SWIFT lookup tools may also help.
What happens if I use the wrong SWIFT code?
Transfers may be delayed, misrouted, or rejected, potentially incurring fees. Always verify codes before sending.
Can I receive international payments without a SWIFT code?
Rarely. SWIFT codes are essential for identifying recipient banks in cross-border transfers.
Does each Bank of Marshall Islands branch have a unique SWIFT code?
Some do, but many transactions can be processed via BOMDMH22XXX. Confirm with your branch if unsure.
How does BOMDMH22XXX differ from other SWIFT codes for the bank?
It designates the Majuro headquarters. Other codes may apply to subsidiaries or specialized services, but BOMDMH22XXX suffices for standard transfers.