Bank Code Verified

AXISINBBA64, SWIFT Code for AXIS BANK LIMITED, JAIPUR

Swift Code: AXISINBBA64

Bank: AXIS BANK LIMITED

Address: NATH MALJI KA KATLA, 4,5 ARIHANT TOWER FLOOR GF AND 0

City: JAIPUR

Branch: SANGANERI GATE :2698

Postcode: 302003

Country: India

Anto Swift Codes: Explaining the purpose and importance of Swift codes

In today’s globalized world, international banking has become an essential part of our lives. Whether it’s for personal reasons like sending money to loved ones abroad or for business purposes like conducting cross-border trade and investments, the need for secure and efficient international transactions has never been greater.

This is where Swift codes come into play. Swift, which stands for Society for Worldwide Interbank Financial Telecommunication, is a global messaging network that enables financial institutions around the world to securely communicate with each other.

Swift codes, also known as Bank Identifier Codes (BIC), are unique identification codes assigned to each financial institution that is part of the Swift network. These codes play a crucial role in facilitating seamless international transactions.

The Role of Swift Codes in International Banking: Discussing how Swift codes facilitate secure and efficient international transactions, highlighting the significance of the given code in connecting with other financial institutions across the globe. When it comes to international banking, security is of utmost importance.

Swift codes ensure that transactions are securely executed by providing a standardized format for identifying and verifying financial institutions. Each Swift code consists of a combination of letters and numbers that uniquely identify a specific bank or branch.

For example, let’s take a closer look at the Swift code “AXISINBBA64” for AXIS BANK LIMITED in India. The first four letters “AXIS” represent the bank’s name, providing a clear indication of the financial institution involved.

The following two letters “IN” represent the country code for India, further narrowing down the location. The next two letters “BB” represent the location code for the bank’s headquarters or primary office.

This specific code, “BA,” is used to identify the Sahibabad Industrial Area branch of Axis Bank in Ghaziabad. Lastly, the two numbers “64” represent the branch code, which identifies a specific branch within the given location.

Swift codes are not only crucial for identifying financial institutions, but they also play a vital role in facilitating efficient and accurate international transactions. When you initiate a cross-border transaction, the recipient’s bank needs to know the sender’s bank information in order to process the transaction correctly.

By including the Swift code in the transaction details, you are ensuring that the transaction is routed to the correct financial institution, minimizing the risk of delays or errors. Moreover, Swift codes also enable financial institutions to communicate important information securely and quickly.

This includes transmitting payment instructions, confirmations, and other relevant details necessary for seamless banking operations. The standardized format provided by Swift codes ensures that all financial institutions, regardless of their location, can communicate with each other effectively, streamlining the banking process for all parties involved.

The significance of the given Swift code, “AXISINBBA64,” becomes evident when we consider its role in connecting AXIS BANK LIMITED with other financial institutions across the globe. As an international bank, Axis Bank needs to have a robust network of correspondents and partners in different countries to facilitate cross-border transactions for its customers.

The given Swift code not only identifies Axis Bank as the sender or recipient of funds but also enables other financial institutions to establish a secure and reliable connection with Axis Bank for seamless transactions. In conclusion, Swift codes are a crucial aspect of international banking, enabling secure and efficient communication between financial institutions worldwide.

They provide a standardized format for identifying and verifying banks and branches, ensuring accurate routing of international transactions. The given Swift code for AXIS BANK LIMITED, “AXISINBBA64,” plays a significant role in connecting Axis Bank with other financial institutions, facilitating seamless cross-border transactions for its customers.

So the next time you initiate an international transaction, remember the importance and significance of Swift codes in making the process smooth and secure.

Unveiling AXIS BANK LIMITED

Axis Bank Limited is one of the leading banks in India, with a vast network of branches and an extensive range of financial services. Established in 1993, Axis Bank has grown exponentially over the years, becoming a trusted name in the banking sector.

Headquartered in Mumbai, Axis Bank operates through a network of branches and ATMs spread across the country. The bank offers a comprehensive range of services, including retail banking, corporate banking, treasury operations, and international banking.

With a customer-centric approach, Axis Bank is committed to providing innovative solutions and personalized services to meet the diverse financial needs of its customers. Axis Bank has established a strong presence in both rural and urban areas, catering to a wide range of customers.

The bank’s retail banking division offers a variety of products and services, including savings accounts, current accounts, credit cards, loans, and wealth management solutions. With a focus on technological advancements, Axis Bank has introduced various digital banking solutions, making banking more convenient and accessible for its customers.

In addition to retail banking, Axis Bank has a robust corporate banking division, serving the needs of businesses across different sectors. The bank provides customized financial solutions, such as cash management services, trade finance, working capital finance, and corporate lending, to support the growth and expansion of corporate clients.

Axis Bank is also known for its strong presence in the treasury operations and international banking segments. The bank offers a wide range of treasury products and services, including foreign exchange, interest rate derivatives, and money market operations.

Through its international banking division, Axis Bank facilitates cross-border transactions, including remittances, trade finance, and foreign currency loans, for its customers. Within the context of international banking, the Swift code for Axis Bank Limited, “AXISINBBA64,” plays a crucial role in identifying and connecting with other financial institutions across the globe.

This code not only represents the bank’s name and location but also acts as a unique identifier for specific branches within Axis Bank’s network. By having a standardized Swift code, Axis Bank can seamlessly communicate and transact with its correspondents and partners worldwide, ensuring efficient global banking operations.

Common Uses of Swift Codes

Swift codes are widely used in international banking for various purposes. Here are some of the common uses of Swift codes:

1.

Routing of International Wire Transfers: Swift codes are essential for routing international wire transfers accurately. When initiating a wire transfer, the sender’s bank needs the recipient’s bank information, including the Swift code, to ensure that the funds are transferred to the correct financial institution.

2. Correspondent Banking: Swift codes enable financial institutions to establish correspondent relationships with each other.

Correspondent banks act as intermediaries, facilitating transactions between parties located in different countries. By exchanging Swift codes, banks can establish secure and reliable connections, making international transactions smoother and more efficient.

3. Interbank Communication: Swift codes are used for secure communication between financial institutions.

Banks use Swift codes to transmit payment instructions, confirmations, and other important messages related to banking operations. This ensures seamless communication and reduces the risk of errors or delays in international transactions.

4. Foreign Currency Exchange: Swift codes are used in foreign currency exchange transactions.

When converting one currency to another, banks rely on the Swift codes of their correspondents to facilitate the exchange process accurately. This ensures that the funds are transferred to the correct bank and account in the recipient’s currency.

5. Trade Finance: Swift codes play a crucial role in trade finance operations.

When engaging in international trade, importers and exporters often require banking services such as letters of credit, guarantees, and documentary collections. The use of Swift codes ensures that all parties involved in the transaction can communicate effectively and complete the necessary documentation and financial arrangements.

In summary, Axis Bank Limited is a prominent player in the Indian banking sector, offering a wide range of financial services to individuals and businesses. With its extensive branch network and commitment to customer satisfaction, Axis Bank continues to make a significant impact in the Indian banking landscape.

Swift codes, such as “AXISINBBA64,” are integral to international banking operations, facilitating secure and efficient communication between financial institutions worldwide. They play a crucial role in accurately routing international transactions, establishing correspondent relationships, and enabling smooth communication between banks.

Swift codes are also widely used in foreign currency exchange and trade finance operations. Understanding the uses and significance of Swift codes is essential for anyone involved in international banking transactions, ensuring seamless and reliable banking operations on a global scale.

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