When making international wire transfers, confusion often arises regarding the correct SWIFT code to use. This is particularly true for transfers involving the Bank of Palestine, where the primary SWIFT/BIC code is PALSPS22XXX , though individual branches may have distinct codes.
Why Use PALSPS22XXX?
The SWIFT code PALSPS22XXX serves as the default identifier for the Bank of Palestine in cross-border transactions. Here’s why it is widely recommended:
- Universal Acceptance: As the primary SWIFT code, it ensures seamless processing of international transfers to the bank.
- Branch Flexibility: If the recipient does not specify a branch-specific code, this default option guarantees the funds will reach the intended account.
- Centralized Processing: Transactions routed through the main office in Ramallah benefit from streamlined handling.
- Reduced Errors: Its widespread recognition minimizes delays or misrouting common with less familiar codes.
Bank of Palestine Details
Bank Name:
Bank of Palestine PLC
SWIFT Code:
PALSPS22XXX
Address:
Court Street, Ein Mesbah
City:
Ramallah
Country:
Palestine, State of
When to Use This SWIFT Code
The code PALSPS22XXX is appropriate in the following scenarios:
- All international transfers directed to the Bank of Palestine.
- Cases where the recipient has not provided a branch-specific code.
- Transactions processed centrally by the bank’s main office.
- When a universally accepted identifier is required to avoid complications.
Verifying the correct SWIFT code before initiating a transfer is critical to ensuring the secure and timely delivery of funds. Whether sending money to Ramallah or elsewhere, using the proper banking details is essential for a smooth transaction experience.