Abbott Laboratories Swift Code
ABTTUS44 – ABBOTT LABORATORIES
| SWIFT CODE | ABTTUS44 |
|---|---|
| BANK | ABBOTT LABORATORIES |
| ADDRESS | 100 ABBOTT PARK ROAD, AP6D-2 0312 |
| CITY | ABBOTT PARK |
| BRANCH | |
| POSTCODE | 60064-6028 |
| COUNTRY | United States |
Abbott Laboratories Swift Code
What is a Swift Code?
A SWIFT code, also known as a SWIFT-BIC code, is a standard format for identifying banks and financial institutions globally to facilitate international money transfers. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication.
The SWIFT code consists of 8 to 11 letters and numbers that provide details like bank name, country, location, and branch. Having the correct SWIFT code for the recipient bank is crucial for ensuring accurate and speedy cross-border payments.
Importance of Swift Codes
Swift codes enable automated and error-free routing of messages containing transaction details between financial institutions. Using SWIFT codes eliminates confusion from similar bank names or addresses by providing a unique identifying code for each bank branch.
Swift codes provide:
- Standardization in identification of financial institutions
- Clarity on bank and branch you are sending money to
- Efficiency in completing international transfers
- Security from misdirected payments leading to losses
Thus, swift codes are vital for seamless global money movement.
Focus on Abbott Laboratories
Overview of Abbott Laboratories
Abbott Laboratories is an American healthcare company that manufactures medical devices, diagnostic tests, medications and nutritional products. With over 100,000 employees, Abbott has a significant global footprint across more than 160 countries.
Some major Abbott products include pharmaceutical brands like Humira, TriCor, and Synthroid along with medical devices such as heart stents and infant formula brands like Similac.
Key Details about Abbott Laboratories
Below are some key details about the company:
- Founded in 1888 by Dr. Wallace Calvin Abbott in Chicago, USA
- 2021 revenue was over USD 43 billion
- Fortune 500 company included in S&P 100 and 500 indices
- Headquartered in Abbott Park, Lake County, Illinois with offices across the globe
- Employs scientists, nutritionists, engineers among other professionals
- Leading researcher in sectors like immunology, cardio-metabolics, neuroscience etc.
- Ranked #1 in diagnostic testing globally
Abbott Laboratories’ Swift Code
Swift Code Format Explained
The SWIFT code for Abbott Laboratories follows the typical structure:
ABTTUS44XXX
Where:
- ABTT: Abbreviation for the bank name (Abbott Laboratories)
- US: ISO country code for the location (United States)
- 44: Location/city code identifying Abbott Park branch
- XXX: Branch code which is denoted by XXX since it is a head office
Components of Abbott Laboratories’ Swift Code
Looking at the various elements within the swift code ABTTUS44:
- Bank Code (ABTT): Stands for “Abbott Laboratories”.
- Country Code (US): Signifies that Abbott Laboratories bank is located in the United States.
- Location Code (44): Corresponds to the specific city location – Abbott Park.
- Branch Code (XXX): XXX indicates this is the bank’s primary office.
So in summary, ABTTUS44XXX identifies the head office of Abbott Laboratories in Abbott Park, USA.
Using Abbott Laboratories’ Swift Code
International Money Transfers
The swift code ABTTUS44 is essential when sending global payments to Abbott Laboratories bank in the United States from overseas. Adding this code along with account details will direct transfers to the intended Abbott Park branch.
This prevents misrouting and losses due to incorrect recipient information during international money movement.
Receiving Payments from Abroad
Similarly, those looking to pay Abbott from another country can use their unique swift code to identify the company bank details and route funds straight there.
The swift code confirms payments are sent to the Abbott Laboratories corporate account rather than any other US bank with potential name confusion.
Additional Information
Address Details
Here are the complete Abbott Laboratories bank address details:
100 Abbott Park Road AP6D-2 0312, Abbott Park 60064-6028
The above address corresponds to the SWIFT ID ABTTUS44.
Wise Transfer Service
If you need to send money to or receive funds from Abbott Laboratories, using Wise international transfer services can save on banking fees. Wise offers competitive foreign exchange rates and charges lower remittance costs.
They utilize the latest technology to transfer money internationally faster through their online platform accessible on desktop and mobile.
Conclusion
Key Takeaways
- Abbott Laboratories’ exclusive swift code is ABTTUS44 identifying its head office location in Abbott Park, Illinois, USA.
- The swift code has specific digits referring to Abbott, the country, city and branch details.
- It enables smooth cross-border transactions into and out of Abbott Laboratories bank internationally.
- Services like Wise facilitate cheaper and quicker money transfers using the swift code.
Frequently Asked Questions
What information is provided by Abbott’s SWIFT code?
The code ABTTUS44 provides details identifying Abbott Laboratories USA bank specifically its head office branch situated in Abbott Park.
Can I use Abbott’s SWIFT code to transfer money from another country?
Yes, you can use the code ABTTUS44 when sending international payments to Abbott Laboratories’ bank account from overseas.
Does Wise charge lower fees than traditional wire transfers?
Yes, Wise offers much lower fees compared to typical bank wire transfers through major cost savings utilizing smarter technology.