Imagine preparing to send money to a friend in Albania, only to find yourself confused by the bank's SWIFT code. A single incorrect character could delay or even fail your transfer, causing inconvenience and unnecessary fees. This guide will explain the SWIFT code for Albania's National Commercial Bank (Banka Kombëtare Tregtare, or BKT) to help you navigate international transfers with confidence.
Understanding SWIFT Codes and Their Importance
A SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as a BIC (Bank Identifier Code), serves as a unique identification number for international bank transfers. Functioning as a bank's "ID card," it ensures your money reaches the correct financial institution. For cross-border transactions, the SWIFT code is crucial—errors may cause delays, returned transfers, or additional charges.
BKT Bank's Official SWIFT Code: NCBAALTXXXX
The primary SWIFT code for Albania's National Commercial Bank (BKT) is NCBAALTXXXX . This code is essential for international transfers. However, BKT might use different SWIFT codes for specific services or branches. Before initiating a transfer, verify the correct code with your recipient or contact BKT directly.
Breaking Down the SWIFT Code Structure
- NCBA: Bank code representing Banka Kombëtare Tregtare
- AL: Country code for Albania
- TX: Location code, typically indicating the bank's headquarters
- XXX: Branch code (XXX often denotes the main office)
BKT Branch Information for Accurate Transfers
While NCBAALTXXXX serves as BKT's primary SWIFT code, consider these scenarios for optimal accuracy:
- No specific branch code provided: Use the main SWIFT code (NCBAALTXXXX) if the recipient hasn't specified a branch.
- Centralized payment processing: BKT may process payments through its headquarters, making the primary code appropriate.
- Default code acceptance: Some systems require a widely recognized default code—NCBAALTXXXX serves this purpose.
Critical Verification Steps Before Transferring
Before completing a SWIFT transfer, double-check these details:
- SWIFT code accuracy: Ensure the code matches the recipient bank's exact information.
- Recipient account details: Verify the account number and name precisely—minor errors can cause failures.
Even small mistakes might freeze or delay your transfer. If you spot an error after sending, contact your bank immediately for correction.
Receiving International Transfers at BKT
To receive overseas funds in your BKT account, provide the sender with:
- SWIFT/BIC code: NCBAALTXXXX (or specific branch code if applicable)
- Your account number: The complete BKT bank account number
- Additional bank details: Some institutions may require the bank's address or other information
Frequently Asked Questions
Can I use NCBAALTXXXX for any BKT branch?
Typically yes, but confirm with the recipient whether their branch requires a specific code.
What happens with an incorrect SWIFT code?
The transfer may be delayed, returned, or incur additional fees—always verify the code.
Does BKT's SWIFT code change?
SWIFT codes rarely change, but periodic verification ensures accuracy.
Conclusion: Precision Matters in Cross-Border Banking
International transfers demand attention to detail. While understanding BKT's SWIFT code is fundamental, thorough verification of all information remains paramount for successful transactions.