In today's increasingly globalized financial environment, the accuracy and speed of international money transfers have become more important than ever. Many individuals find themselves uncertain when selecting the correct SWIFT code, particularly when sending funds to Raiffeisen Bank in Hungary. This guide provides essential information to ensure your international transfer reaches its destination successfully.
Understanding the Correct SWIFT/BIC Code
When initiating an international transfer to Raiffeisen Bank in Hungary, the primary information you'll need is the bank's SWIFT/BIC code. The official SWIFT/BIC code for Raiffeisen Bank is UBRTHUHBXXX . This main code is widely used for international transfers and serves as the most reliable option.
However, it's important to note that different services or branches may use alternative SWIFT/BIC codes. We strongly recommend verifying the specific code with your recipient or the bank before initiating the transfer to ensure complete accuracy.
Essential Information for Smooth Transactions
To prevent delays in your international money transfer, you must provide the sending institution with complete and accurate information. Beyond the SWIFT/BIC code, you'll typically need to supply:
- Your full bank account number
- The recipient's full name as it appears on their bank account
- The recipient's complete bank account details
- The exact address of the recipient's bank branch
Double-checking all these details before submission can significantly reduce the risk of processing delays or failed transfers.
Considering Fees and Exchange Rates
International transfers often involve additional considerations such as transaction fees and exchange rates. Raiffeisen Bank typically offers competitive exchange rates and reasonable transaction fees. However, we recommend:
- Inquiring about all applicable fees before initiating the transfer
- Comparing exchange rates offered by different providers
- Understanding whether fees are charged to the sender, recipient, or both
Preparation for First-Time Senders
For those making their first international transfer to Hungary, understanding the complete process is crucial. Some important considerations include:
- Potential requirements for additional documentation to verify the source of funds
- Processing times which may vary depending on the countries involved
- Possible intermediary bank requirements for certain transactions
Being prepared with all necessary documents and information can help ensure your first international transfer proceeds smoothly.
Final Recommendations
International money transfers don't need to be complicated. By ensuring you have the correct SWIFT code and accurate account information, your funds should reach Raiffeisen Bank in Hungary efficiently. Remember these key points:
- Always verify the SWIFT/BIC code before sending
- Provide complete and accurate account information
- Understand all applicable fees and exchange rates
- Prepare any required documentation in advance
With proper preparation and attention to detail, your international transfer experience can be both efficient and stress-free.