As the world becomes increasingly connected, cross-border banking transactions are more common, whether for business or personal reasons. A critical element in these international transactions is the SWIFT code. If you are banking with Bandhan Bank Limited, understanding and using the correct SWIFT code is essential for smooth international transfers.
This blog post will walk you through what a SWIFT code is, why it’s important for Bandhan Bank, and provide a list of branch-specific SWIFT codes in table form.
What is a SWIFT Code?
A SWIFT code (also referred to as a BIC – Bank Identifier Code) is a unique identifier used by financial institutions worldwide to conduct secure and efficient international transactions. These codes ensure that money transfers reach the correct bank and branch.
A SWIFT code typically consists of 8 to 11 characters and is structured as follows:
- First 4 characters: Bank code (identifies the bank)
- Next 2 characters: Country code (identifies the country)
- Next 2 characters: Location code (identifies the city or region)
- Last 3 characters (optional): Branch code (identifies a specific branch, optional for the main office)
For example, a typical SWIFT code for Bandhan Bank might look like this:
BDBLINBBCAL
Breaking it down:
- BDBL: Identifies Bandhan Bank Limited
- IN: Represents India
- BB: Location identifier (specific to the bank’s head office or branch)
- CAL: Refers to the Kolkata branch (optional)
Why Do You Need a SWIFT Code for Bandhan Bank?
When transferring funds across international borders, the SWIFT code ensures that the money reaches the correct destination. Without the correct SWIFT code, the transaction might be delayed or returned. Here are a few reasons why you need a SWIFT code for Bandhan Bank:
- Global Identification: It identifies the exact bank and branch in a standardized global format.
- Security: SWIFT codes add an additional layer of security to international payments, ensuring the correct bank receives the funds.
- Efficiency: They minimize delays in fund transfers and reduce the risk of errors.
- Universal Acceptance: SWIFT codes are accepted worldwide, allowing for smooth transactions regardless of the sender’s or receiver’s location.
Bandhan Bank Limited: A Brief Overview
Bandhan Bank Limited is one of India’s youngest yet fastest-growing private sector banks. Established in 2015, it originated from Bandhan Financial Services, a microfinance institution. Over the years, Bandhan Bank has expanded its services to include a wide array of banking products such as savings accounts, loans, insurance, and investment solutions.
Bandhan Bank has a robust presence across India, with its head office located in Kolkata, West Bengal. It plays a pivotal role in providing financial services to underserved sections of society, particularly in rural areas. For international banking, Bandhan Bank uses the SWIFT system to facilitate seamless cross-border transactions.
SWIFT Codes for Bandhan Bank Branches
While Bandhan Bank’s international operations are still expanding, the bank provides SWIFT codes for major branches that handle international payments. Below is a table of some of the main branches and their respective SWIFT codes:
| Branch | SWIFT Code | Location |
|---|---|---|
| Bandhan Bank Kolkata Main Branch | BDBLINBBCAL | Kolkata, India |
| Bandhan Bank Mumbai Branch | BDBLINBBMUM | Mumbai, India |
| Bandhan Bank Delhi Branch | BDBLINBBDEL | Delhi, India |
| Bandhan Bank Chennai Branch | BDBLINBBCHN | Chennai, India |
| Bandhan Bank Hyderabad Branch | BDBLINBBHYD | Hyderabad, India |
| Bandhan Bank Bangalore Branch | BDBLINBBBLR | Bangalore, India |
| Bandhan Bank Ahmedabad Branch | BDBLINBBAHM | Ahmedabad, India |
| Bandhan Bank Pune Branch | BDBLINBBPUN | Pune, India |
| Bandhan Bank Jaipur Branch | BDBLINBBJAI | Jaipur, India |
This table outlines the SWIFT codes for some of the most prominent branches of Bandhan Bank that handle international transfers.
How to Find Your Bandhan Bank SWIFT Code?
If you are uncertain about the SWIFT code of your specific branch, here are a few methods to find it:
- Bank Statement: Often, your branch’s SWIFT code is printed on your bank account statement.
- Official Bank Website: Bandhan Bank’s official website will usually list the SWIFT codes for its branches that handle international transactions.
- Branch Visit: You can visit or call your nearest branch to inquire about their SWIFT code.
- SWIFT Online Directory: SWIFT’s official website and other financial directories provide a list of SWIFT codes for banks around the world.
Common Uses of SWIFT Codes
- Receiving International Payments: If you are receiving funds from a sender located overseas, they will need your bank’s SWIFT code along with your account details.
- Sending Money Abroad: When you send money internationally, you will need to provide the SWIFT code of the recipient’s bank.
- International Wire Transfers: SWIFT codes are required for wire transfers, especially when transferring large sums of money across countries.
Conclusion
SWIFT codes are a critical aspect of international banking, and understanding the correct code for your branch is essential for smooth cross-border transactions. For Bandhan Bank Limited customers, knowing your branch’s SWIFT code ensures that international money transfers are processed efficiently and securely.
As Bandhan Bank continues to grow its presence both in India and internationally, the use of SWIFT codes will continue to be important for facilitating seamless financial transactions. Whether you are sending money abroad or receiving funds from an overseas source, using the correct SWIFT code for Bandhan Bank will guarantee that your money reaches its destination safely and on time.
FAQs About SWIFT Codes and Bandhan Bank Limited
- Do I need a SWIFT code for domestic transactions?
- No, SWIFT codes are only required for international transactions. For domestic transactions in India, you will need the IFSC (Indian Financial System Code) instead.
- What happens if I use the wrong SWIFT code?
- If the wrong SWIFT code is used, the transaction might get delayed or fail. It’s important to double-check the code before making any international transaction.
- Is the SWIFT code the same for all branches?
- No, each branch can have a unique SWIFT code. It is important to use the SWIFT code of the specific branch handling the transaction.
- Where can I verify my branch’s SWIFT code?
- You can verify the SWIFT code on the official Bandhan Bank website or by contacting the branch directly.
By understanding how SWIFT codes work for Bandhan Bank Limited, you can confidently handle your international banking transactions, ensuring that they are both secure and efficient.