Imagine an international wire transfer carrying significant funds getting stuck in the banking system due to a simple SWIFT code error, leaving the recipient waiting anxiously. This scenario becomes particularly crucial when dealing with cross-border transactions involving United Bank of Albania. Understanding the bank's correct SWIFT code is essential for seamless international money transfers.
Understanding SWIFT Codes and Their Importance
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), serves as a universal passport for international bank transfers. Functioning like a bank's unique identification, SWIFT codes enable precise identification of financial institutions worldwide. When initiating international payments, providing the correct SWIFT code ensures funds reach the intended recipient bank without complications.
United Bank of Albania's Primary SWIFT Code: AAISALTRXXX
The main SWIFT code for United Bank of Albania is: AAISALTRXXX . This alphanumeric sequence represents the bank's unique identity in the global financial network:
- AAISA : Bank code identifying United Bank of Albania
- LT : Country code for Albania
- TR : Location code representing Tirana
- XXX : Branch code typically indicating the head office
Important Considerations Regarding Branch Variations
United Bank of Albania may use different SWIFT codes for specific branches or services. Before initiating any transfer, it's advisable to confirm the exact SWIFT code with the recipient or directly with the bank. If no specific branch code is provided, using the primary SWIFT code AAISALTRXXX is generally acceptable.
When to Use AAISALTRXXX
The primary SWIFT code is appropriate in these common scenarios:
- When sending international transfers to United Bank of Albania accounts
- When the recipient hasn't specified a particular branch code
- For transactions processed through the bank's central operations
- As a default code when other specific information isn't available
Essential Verification Steps Before Transfer
To ensure successful transactions, always perform these verifications:
- Confirm the SWIFT code precisely matches the recipient bank's official designation
- Double-check the recipient's account number and full name as registered with the bank
Addressing Transfer Errors
If you discover incorrect transfer information after submission, immediately contact your bank. While financial institutions may attempt to recall or amend transactions, success depends on the transfer's processing stage and the receiving bank's policies. Prevention through careful verification remains the most reliable approach.
Receiving International Payments
To receive international transfers into a United Bank of Albania account, provide senders with:
- The correct SWIFT/BIC code (AAISALTRXXX or specific branch code if applicable)
- Your complete bank account number
- Your full legal name as it appears on bank records
- The bank's official name: United Bank of Albania
About United Bank of Albania
United Bank of Albania SH.A maintains a significant position in Albania's financial sector. Proper understanding of its SWIFT code facilitates efficient international banking operations for both individuals and businesses.