Bank Code Verified

PUBABDDH214, SWIFT Code for PUBALI BANK LIMITED, SUNAMGANJ

Swift Code: PUBABDDH214

Bank: PUBALI BANK LIMITED

Address:

City: SUNAMGANJ

Branch: SUNAMGANJ BRANCH

Postcode: 3000

Country: Bangladesh

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

Imagine you’re in a bustling airport, ready to embark on an exciting adventure to a foreign land. You approach the ticket counter to purchase your flight ticket, and the agent asks you for your passport.

Without hesitation, you hand over this essential document that allows you to travel globally. Just like a passport is crucial for international travel, Swift codes are the backbone of international banking, facilitating secure and efficient transactions between financial institutions worldwide.

In this article, we will explore the purpose and importance of Swift codes, delving into their role in connecting banks across the globe. What are Swift codes?

Swift codes, also known as Bank Identifier Codes (BICs), are a unique series of characters that identify specific financial institutions. These codes were established by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) a cooperative society founded in 1973.

SWIFT acts as a global provider of secure messaging services between financial institutions, allowing them to communicate and conduct transactions smoothly.

The structure of a Swift code

A standard Swift code consists of either 8 or 11 characters. The first four characters represent the bank code, which identifies the specific financial institution.

The following two characters indicate the country code, revealing the country where the institution is based. If the Swift code is longer and contains 11 characters, the last three characters identify the branch code, providing further specificity.

The role of Swift codes in international banking

Swift codes play a vital role in international banking by enabling institutions to safely and efficiently conduct cross-border transactions. Here’s how they make this possible:

1.

Identifying financial institutions

In today’s globalized world, where thousands of banks operate, Swift codes are essential in ensuring accurate identification of financial institutions. When sending or receiving money internationally, Swift codes provide an extra layer of security by eliminating ambiguity.

Just as a passport uniquely identifies an individual, a Swift code serves as an identifier for a bank. 2.

Facilitating secure transactions

Security is of utmost importance in international banking. Swift codes allow financial institutions to securely communicate and share relevant financial information.

By using these codes, banks can reliably exchange messages pertaining to funds transfer, account balances, and other essential information. Swift’s secure network ensures that sensitive financial data is encrypted and protected from unauthorized access.

3. Efficient communication between financial institutions

In the realm of international banking, timely and accurate communication is key.

Swift codes facilitate seamless communication between financial institutions, allowing them to exchange information efficiently. This ensures that transactions and inquiries are processed promptly, reducing delays and enhancing overall customer experience.

The significance of the given Swift code: PUBABDDH214

Now that we understand the purpose and importance of Swift codes let’s focus on the given Swift code: PUBABDDH214. This code specifically corresponds to the Pubali Bank Limited in Bangladesh, with its designated branch located in Sunamganj.

This unique code makes it possible for Pubali Bank Limited’s customers to initiate international transactions and establish connections with other financial institutions worldwide. By utilizing the PUBABDDH214 Swift code, customers of Pubali Bank Limited gain access to a vast network of banks, allowing for efficient and secure international transactions.

Whether it be sending money abroad, receiving funds from overseas, or simply conducting business with international partners, this Swift code serves as a key to unlocking the doors of global finance. In conclusion, Swift codes are instrumental in ensuring smooth and secure international transactions.

They serve as the universal language for banks across the globe, allowing them to connect and communicate effortlessly. Just as a passport grants you access to explore distant lands, Swift codes enable financial institutions to engage in global economic activities, fostering growth and connectivity.

So the next time you see a Swift code like PUBABDDH214, remember the importance it holds in facilitating international banking and opening doors to endless opportunities.

Unveiling PUBALI BANK LIMITED

In the vast landscape of banking institutions, Pubali Bank Limited stands as a prominent player in Bangladesh. Established on December 17, 1959, the bank has grown over the years to become one of the leading financial institutions in the country.

With its commitment to excellence, Pubali Bank Limited has earned the trust and confidence of its customers, offering a wide range of services and a strong network of branches throughout Bangladesh. The bank’s headquarters are situated in Dhaka, the capital city of Bangladesh.

However, our focus lies on unveiling one of Pubali Bank Limited’s branches the Sunamganj branch. Strategically located in the city of Sunamganj, the branch serves as a crucial financial hub, catering to the banking needs of individuals and businesses in the region.

The Sunamganj branch of Pubali Bank Limited is conveniently located in the heart of the city, making it easily accessible to customers. It offers a comprehensive range of banking services, including savings and current accounts, loans and advances, foreign exchange services, and trade financing solutions.

The branch is equipped with modern banking technology, ensuring efficient and seamless transactions for customers. The dedicated team of professionals at the Sunamganj branch is committed to providing exceptional customer service.

They assist customers with various banking inquiries, queries, and financial solutions, catering to the unique needs of each individual or business that walks through the doors. With their expertise and commitment to excellence, the branch staff ensures that customers’ banking experiences are smooth and satisfactory.

As a branch of Pubali Bank Limited, one of the key ways the Sunamganj branch connects with other financial institutions worldwide is through its unique Swift code, PUBABDDH214. This Swift code acts as the bridge that links the branch to the global financial network.

By utilizing this code, customers of the Sunamganj branch can initiate international transactions, establish connections with other banks globally, and enjoy the benefits of seamless and secure international banking.

Common Uses of Swift Codes

Now that we have unveiled Pubali Bank Limited and explored the Sunamganj branch’s role in connecting with other financial institutions through its Swift code, it is essential to understand the common uses of Swift codes in international banking. Here are some significant applications:

1.

Cross-border money transfers

Swift codes play a crucial role in facilitating cross-border money transfers. When you need to send money internationally, whether it is to pay for goods and services or support your loved ones abroad, Swift codes ensure that the funds reach the intended recipient’s bank account accurately and securely.

By utilizing the appropriate Swift code of the recipient’s bank, you can initiate a smooth and hassle-free transfer. 2.

Foreign exchange transactions

If you engage in foreign exchange transactions, such as converting one currency into another, Swift codes are vital in ensuring the seamless flow of funds. By using the appropriate Swift codes, financial institutions can swiftly and accurately process foreign exchange transactions, minimizing delays and reducing the risk of errors.

3. International trade and commerce

In the realm of international trade and commerce, Swift codes are indispensable.

Whether you are importing or exporting goods or services, having the correct Swift codes is crucial for ensuring smooth payment processing and documentation. These codes enable banks to communicate effectively and efficiently, facilitating the seamless execution of international trade transactions.

4. Correspondent banking relationships

Swift codes also play a significant role in establishing correspondent banking relationships.

Correspondent banking is a partnership between two banks that allows them to provide services to each other and their respective customers. Swift codes enable financial institutions to identify and connect with correspondent banks globally, fostering relationships that enhance their ability to serve customers’ international banking needs.

5. International investment and financing

For individuals and businesses seeking international investment opportunities or financing options, Swift codes are essential for connecting with the appropriate financial institutions.

Whether it is seeking investment capital or accessing international markets for expansion, the use of Swift codes ensures that the necessary financial transactions and communications occur securely and efficiently. In conclusion, Swift codes are a vital component of international banking, facilitating secure and efficient connections between financial institutions worldwide.

In the context of Pubali Bank Limited, the Sunamganj branch’s Swift code, PUBABDDH214, plays a crucial role in connecting the branch with other banks, ensuring seamless international transactions. As customers of Pubali Bank Limited and other financial institutions, understanding the purpose and common uses of Swift codes empowers individuals and businesses to engage effectively in global finance and expa

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