Bank Code Verified

ICRAITRRC20, SWIFT Code for BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE, CAPPELLE SUL TAVO

Swift Code: ICRAITRRC20

Bank: BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE

Address: VIA UMBERTO I 78/80

City: CAPPELLE SUL TAVO

Branch:

Postcode: 65010

Country: ItalyIn today’s globalized and interconnected world, international banking transactions have become a common occurrence. However, these transactions involve more than just transferring funds from one account to another.

They require a secure and efficient system to ensure that money reaches its intended destination without any hiccups. This is where Swift codes come into play.

Topic 1: Anto Swift Codes

1.1 What are Swift Codes? – Swift codes, also known as Bank Identifier Codes (BIC), are unique identification codes used by financial institutions worldwide.

– They are standardized codes issued by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a cooperative organization comprising thousands of banks and financial institutions. 1.2 Why are Swift Codes Important?

– Swift codes play a critical role in facilitating international banking transactions. – They ensure that money is transferred securely and efficiently between different countries and financial institutions.

– Without Swift codes, banks would have a difficult time verifying the identities of other banks and ensuring the accuracy of transaction details. 1.3 How to Interpret Swift Codes?

– Swift codes consist of a combination of letters and numbers. – The first four letters represent the bank’s name or code.

– The next two letters represent the country code according to the ISO 3166-1 alpha-2 standard. – The following two letters, which are optional, represent the location code.

– The last three characters, which are also optional, represent the branch code. Topic 2: The Role of Swift Codes in International Banking

2.1 Secure and Efficient Transactions

– Swift codes enable financial institutions to verify the identity of each other, ensuring that transactions are carried out securely.

– They also provide specific instructions regarding the recipient’s bank, branch, and account number, minimizing errors and ensuring efficient processing. 2.2 Global Connectivity

– Swift codes act as a universal language for financial institutions, allowing them to communicate and connect with each other.

– Banks from different countries can easily identify and interact with one another using Swift codes, simplifying the process of international transactions. 2.3 Integration with Other Financial Systems

– Swift codes seamlessly integrate with other financial systems, such as IBAN (International Bank Account Number), to provide a comprehensive framework for global banking.

– By combining Swift codes with other identification systems, international transactions become even more streamlined and reliable. 2.4 Standardization and Harmonization

– Swift codes adhere to standardized formats, ensuring compatibility and interoperability among financial institutions.

– The use of Swift codes promotes transparency, efficiency, and accountability in the global banking system. 2.5 Verification and Validation

– Swift codes enable banks to verify the authenticity and validity of other banks before initiating transactions.

– This verification process reduces the risk of fraud and safeguards against unauthorized transactions.

Conclusion

In conclusion, Swift codes play a vital role in international banking by facilitating secure and efficient transactions between financial institutions worldwide. These codes enable banks to communicate, connect, and transact with each other seamlessly, ensuring that money reaches its intended destination without any complications.

Their standardized format enhances transparency and interoperability, making the global banking system more reliable and accountable. Overall, Swift codes are essential tools for conducting international transactions and maintaining the integrity of the financial system.

Topic 3: Unveiling BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE

3.1to BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE

– BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE is a cooperative credit bank located in Cappelle Sul Tavo, Italy. – As a cooperative bank, it operates based on principles of mutuality and collaboration within its local community.

– The bank serves individuals, families, and businesses by providing a wide range of financial services, including loans, savings accounts, and investment options. 3.2 The Swift Code: ICRAITRRC20

– The Swift code for BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE is ICRAITRRC20.

– This unique code identifies the bank and allows it to connect with other financial institutions globally. – The first four letters, “ICRA,” represent the bank’s name.

– The following two letters, “IT,” represent the country code for Italy according to the ISO 3166-1 alpha-2 standard. – The next two letters, “RR,” are the location code for the branch.

– The last three characters, “C20,” represent the branch code. 3.3 The Importance of BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE’s Swift Code

– The Swift code, ICRAITRRC20, is essential for enabling secure and efficient international transactions involving BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE.

– It ensures seamless communication and connectivity with other banks across borders, allowing for reliable and timely transfers of funds. – The Swift code also helps in verifying the authenticity and validity of BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE, reducing the risk of fraudulent transactions.

3.4 Focus on Community and Collaboration

– As a cooperative bank, BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE places a strong emphasis on community involvement and collaboration. – It works closely with local businesses, organizations, and individuals to foster economic development and financial well-being within its community.

– Through its Swift code, the bank can connect with other financial institutions globally, promoting collaboration and expanding opportunities for its customers. Topic 4: Common Uses of Swift Codes

4.1 Facilitating Cross-Border Payments

– One of the primary uses of Swift codes is to facilitate cross-border payments.

– Whether it is an individual sending money to a family member in another country or a multinational corporation making international payments, Swift codes ensure the secure and efficient transfer of funds. – By using the appropriate Swift code, financial institutions can reliably identify the recipient’s bank and route the payment to the correct account.

4.2 Enabling International Wire Transfers

– Swift codes are crucial for international wire transfers, which involve the movement of funds between different banks or financial institutions. – When initiating a wire transfer, the sender and recipient banks use their respective Swift codes to identify each other and ensure that the transaction is carried out accurately.

– Swift codes eliminate confusion and potential errors by providing specific instructions for routing funds across different countries and financial networks. 4.3 Confirming Bank Account Details

– Before initiating any international transaction, banks need to verify the recipient’s bank account details.

– Swift codes play a crucial role in this process by providing a standardized format for identifying banks and their associated branches. – By using the correct Swift code, banks can validate the account details and ensure that the funds are directed to the intended recipient.

4.4 Facilitating Trade Finance

– Swift codes are widely used in trade finance, which involves the financing and facilitation of international trade transactions. – When banks issue letters of credit or handle documentary collections, they rely on Swift codes to identify the participating banks and ensure smooth coordination between all parties involved.

– Swift codes streamline the trade finance process, reducing paperwork, and enabling efficient communication and settlement of payments. 4.5 Supporting Correspondent Banking Relationships

– Correspondent banking, where banks establish relationships with each other to access services in different jurisdictions, relies heavily on Swift codes.

– Banks use Swift codes to identify their correspondent banks and execute various transactions on behalf of their customers. – By maintaining correspondent banking relationships, banks can extend their global reach and offer a broader range of services to their clients.

In this expanded section, we delved into the importance of BANCA DI CREDITO COOPERATIVO ABRUZZESE-CAPPELLE SUL TAVO-SOC.COOP.PER AZIONI A MUTUALITA’ PREVALENTE’s Swift code, ICRAITRRC20, and discussed its role in enabling secure international transactions. Additionally, we explored the common uses of Swift codes, such as facilitating cross-border payments, enabling international wire transfers, confirming bank account details, facilitating trade finance, and supporting correspondent banking relationships.

These uses demonstrate the significance and widespread application of Swift codes in the global banking system.

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