Have you ever wondered about swift codes included in your bank account information? At first glance, it appears strange, almost illegible, and makes no sense. But that isn’t the case. This set of alphanumeric characters carries a meaning, and here we will reveal it.
Like every other bank, the ADCB swift code also represents a meaning and is there for a reason. So, let’s crack this code and find out what it stands for so that you become wiser and more aware of the subject.
ADCB Swift Code
What is a Swift Code, and Why Do You Need It?
When you want to send or receive money via bank internationally, the bank will ask for a swift code. It is a set of alphanumeric characters that banks use to communicate with each other. It has a standard format, is approved by international organizations, and is recognized globally.
It is a unique identification code assigned to your bank’s branch. Every branch has its ADCB Swift Code, which we will learn when we further decipher it in this blog. It follows a standard format of Business Identifier Codes approved by international bodies.
You need it for SEPA payments and international wire transfers. Swift codes help process the payment faster and are your bank’s who and where.
ADCB Swift Code Explained:
Usually, swift codes comprise 8-11 characters that denote the country, city, bank’s name, and branch. Let’s decipher a typical swift bank code.
- The first four characters indicate the bank’s name, and A-Z represents it
- The following two characters represent the country code, and it is also denoted in the alphabet
- The next two characters are alphanumeric and indicate the bank’s location
- The last three digits are also alphanumeric and represent the bank’s branch
We can present this information in the form of a table below.
Now that you have understood what a swift code is and what it stands for, let’s look at some other related concepts.
Where Can You Find the Swift Code?
Suppose you want to find out the ADCB swift code of your particular branch; here are some sources from where you can get the swift code.
On your bank statement: Usually, banks mention the swift code on the bank statement. You can check it on the statement. It may not be mentioned explicitly; you might have to look for it, but it should be there.
Bank’s website: You can find the swift code of your particular branch by visiting the ADCB’s official website. You can search for your specific branch in the search bar or go to the branch section and look for your branch in the list of branches there and get its swift code.
Customer support: Contact your bank via helpline or email and ask for your branch’s swift code. The support staff will guide you and inform you about the exact swift code you can use.
Use the Internet: You can also use the Internet to discover your bank’s swift code. Plenty of free resources and websites store a database of swift codes for the general public’s convenience. Some websites generate the swift code on the basis of the information you provide them. Please ensure that your chosen website is reliable and enjoys a good reputation before you believe in the information it provides.
Visit your branch: You can also visit your branch or the ADCB branch near you in person to get the swift code. It will probably be a hassle for you, but it is perhaps the best way to get this information, as its authenticity will be beyond doubt.
Swift codes are not permanent, so you must verify them from whatever source you get them to avoid any inconvenience.
Precautions While Using the Bank Swift Code:
To avoid any inconvenience, pay attention to the following while using the swift code;
Typing errors: This one is a no-brainer. Always type the swift code accurately. Even a mistake of one character is not permissible. To avoid typing errors, copy and paste the swift code where possible.
Correct format: As discussed earlier, swift codes have a standard format recognized globally. It is a bank identifier code or BIC that banks use and understand. Therefore, you must follow the exact order of the swift code and do not alter it in any way.
The correct format of the swift code is Bank Code – Country Code – Location Code – Branch Code.
Any additional information: Sometimes, the nature of the remittance may require furnishing some additional information by the sender or the beneficiary. Both banks involved in the transaction may ask for it; in such case, you must provide it. Otherwise, your payment may not go through even though the swift code may be accurate.
We Think That’s Enough Learning for Today:
So, that was all about ADCB swift code. We have tried to cover all the essential concepts of swift codes. We believe you are now well aware of a swift code is importance in today’s banking operations. It is extensively used for international wire transfers and internal bank communication. You should be aware of the latest swift code of your bank’s branch. This information will be handy.
FAQs – ADCB Swift Code:
Q: What does the swift code ADCBAEAA060 mean?
A: This swift code belongs to Abu Dhabi Commercial Bank, Al Riggah Road P 3/1 Al Qubaisi, ADCB Building, UAE.
Q: Can we tell that the above swift code belongs to a branch or a head office?
A: As the above-mentioned swift code is 11 characters long, it is a branch code. The last three digits, 060, also show it is a branch’s code.
Q: Is the swift code the same for all branches?
A: No, that is not the case. The branch code is different for every branch. Also, some branches may use the bank’s head office code.
Q: Is an IBAN the same as a swift code?
A: IBAN stands for international bank account number. It is not the same as the swift code assigned to your bank. In some international transactions, you might be required to provide both the IBAN and the swift code.
Q: Do swift codes always stay the same?
A: That is not the case. They might change with time. It is advisable to verify the swift code from your bank if you are getting it from a third party.