Habib Overseas Bank Limited Branch Code, BIC Code (Swift) – A Detailed Guide

When engaging in banking transactions, whether within a country or across borders, it’s essential to use the right identification codes to ensure that funds are transferred securely and accurately. Two key codes that facilitate these processes are the branch code for domestic transactions and the BIC code (SWIFT code) for international transfers. For customers of Habib Overseas Bank Limited, understanding these codes is crucial for ensuring that payments and transfers are routed correctly and processed without delays.

This comprehensive guide provides a detailed explanation of Habib Overseas Bank Limited’s branch code and SWIFT code, how they function in banking transactions, and why they are important for seamless banking experiences.

What is a Branch Code?

A branch code is a unique identifier assigned to each branch of a bank, which plays an essential role in routing payments and ensuring that they are directed to the correct branch within a country. In the case of Habib Overseas Bank Limited, the branch code is used for domestic transactions, such as sending funds within the country or making local payments.

Why is the Branch Code Important?

1. Routing Transactions: The branch code ensures that payments and transfers are routed to the right branch within the domestic banking network of Habib Overseas Bank Limited.
2. Deposits and Withdrawals: The branch code is crucial when making deposits or withdrawals at a specific branch. It helps in ensuring that funds are deposited into or withdrawn from the correct account at the correct location.
3. Bill Payments: When paying local bills (e.g., utilities, insurance premiums, etc.), the branch code helps ensure that payments reach the right destination within Habib Overseas Bank Limited.

What is a BIC Code (SWIFT Code)?

A BIC code (Bank Identifier Code), also known as a SWIFT code, is a globally recognized code used to identify banks and financial institutions for international transactions. When you send or receive funds across borders, the BIC code (SWIFT code) ensures that the money is routed to the correct bank and branch, regardless of where it is located.

The SWIFT code typically consists of 8 to 11 characters:

• Bank Code: The first four characters represent the bank’s name.
• Country Code: The next two characters indicate the country where the bank is based.
• Location Code: The next two characters represent the region or city where the bank is located.
• Branch Code (optional): The final three characters, if included, refer to a specific branch of the bank.

For Habib Overseas Bank Limited, the SWIFT code plays an essential role in international payments, ensuring that funds are directed to the correct bank branch when sending or receiving money globally.

Habib Overseas Bank Limited Branch Code and SWIFT Code

As a financial institution offering both domestic and international services, Habib Overseas Bank Limited uses different codes depending on whether you are making a local transaction or an international transfer.

Habib Overseas Bank Limited Branch Code

For domestic transactions, Habib Overseas Bank Limited assigns a unique branch code to each of its branches. This code is required when conducting various types of local transactions, including:

• Inter-branch transfers: Sending funds between different branches of the same bank.
• Bill payments: Paying local utility bills or taxes.
• Depositing funds: When depositing cash, cheques, or electronic funds into your account.

You can find the branch code for your local Habib Overseas Bank Limited branch by referring to your bank statement, visiting the bank’s website, or reaching out to customer service.

Habib Overseas Bank Limited SWIFT Code (BIC Code)

For international transactions, Habib Overseas Bank Limited uses a SWIFT code to ensure that cross-border payments are routed to the correct bank and branch. The SWIFT code is necessary for:

• Sending money abroad: When transferring funds internationally, the SWIFT code helps direct the payment to the right financial institution and branch.
• Receiving international payments: If you are receiving funds from another country, the SWIFT code ensures the money is routed correctly to your account.
• Foreign currency transactions: When dealing with foreign currencies, the SWIFT code is vital for converting and transferring funds to and from Habib Overseas Bank Limited.

The SWIFT code for Habib Overseas Bank Limited is:

HABIHQSG

Here’s how the code is broken down:

• HABI: Represents Habib Overseas Bank Limited.
• HQ: The country code for Singapore (if applicable to your branch location).
• SG: The location code for Singapore, which is where the bank is based.

How to Use Branch Code and SWIFT Code for Transactions

Whether you are conducting domestic or international transactions, understanding how to use the branch code and SWIFT code is essential for seamless processing.

1. Domestic Transactions – Branch Code

For local transactions within your country, you will need the branch code to:

• Transfer funds between different branches of Habib Overseas Bank Limited.
• Pay bills to local service providers and organizations.
• Deposit funds into your bank account, whether through cash, cheque, or electronic transfer.

2. International Transactions – SWIFT Code

For international transfers, the SWIFT code is necessary. You will need the SWIFT code for:

• Sending money abroad: If you are transferring funds internationally, the SWIFT code ensures that the payment is routed to the correct branch of Habib Overseas Bank Limited.
• Receiving international payments: When receiving funds from abroad, you will need the SWIFT code to ensure the money is directed to your account without errors.
• Currency conversion: The SWIFT code is also used to process currency conversions during international transactions, helping to ensure that funds are accurately exchanged and transferred.

Why Are These Codes Important?

The branch code and SWIFT code are vital for ensuring the proper processing of your financial transactions. Here’s why they are essential:

1. Accuracy: The branch code ensures that domestic transactions are routed to the right branch, and the SWIFT code ensures that international transactions reach the correct financial institution.
2. Security: By using the correct SWIFT code, you ensure that your funds are transferred securely, especially when dealing with cross-border payments.
3. Speed and Efficiency: Using the correct codes ensures that your payments and transfers are processed without delays, allowing for fast completion of your transactions.
4. Compliance: Adhering to the correct SWIFT code requirements helps your transactions comply with international banking regulations and anti-money laundering (AML) laws.

Whether you are transferring funds locally or internationally, understanding the branch code and SWIFT code for Habib Overseas Bank Limited is essential to ensure that your banking transactions are processed correctly. Using these codes will help you avoid delays, errors, and potential security issues when making payments or transfers.

For more information regarding Habib Overseas Bank Limited’s branch code and SWIFT code, you can visit Habib Overseas Bank’s official website, consult your account statement, or contact customer service for assistance. By using these codes, you can ensure that your funds are transferred safely and accurately.