COUNTRYUnited States
Detailed information about SWIFT Code AAECUS33

SWIFT Code AAECUS33 Overview

A SWIFT code is an international bank code that identifies particular banks worldwide. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. SWIFT codes are also called BIC codes, and they help facilitate international wire transfers between banks.

What is a SWIFT Code?

A SWIFT code is an 8-11 digit code that identifies the bank and branch where an account is held. The code provides details like the bank name, country, location, and branch of an account. This information allows automated systems to route messages and payments from one account to another through a secure messaging network.

Over 11,000 financial institutions across 200+ countries use SWIFT codes to send payment instructions. The standard format helps remove ambiguity and ensures fast and accurate cross-border payments.

SWIFT Code Breakdown

SWIFT codes follow a standard 8 to 11-digit format containing information about the institution:

Bank Code

The bank code identifies the financial institution that holds the account. For SWIFT AAECUS33, AAEC identifies Aflac Asset Management LLC.

Country Code

The country code represents the country location of the bank branch. For AAECUS33, US indicates the United States.

Location Code

This 2-digit code (33) represents the location of the financial institution usually identified by the city.

Branch Code

Some SWIFT codes have a 3-digit branch code. When absent, ‘XXX’ serves as a placeholder value.

SWIFT Code AAECUS33 Details

Now that we’ve broken down the components of the SWIFT code, let’s see the specifics behind AAECUS33:

Bank Name and Address

The financial institution associated with SWIFT code AAECUS33 is Aflac Asset Management LLC, located at:

Address: 100 Wall Street, Floor 29
City: New York Postcode: 10005
Country: United States

Aflac Asset Management LLC serves as the asset management subsidiary of Aflac Incorporated providing investment solutions.

Money Transfers and Fees

Banks normally charge transfer fees for sending or receiving SWIFT payments. Using a cheaper money transfer service can help you save substantially on international transfer feeds.

For USD transfers, consider using Wise (previously TransferWise). Wise offers competitive rates, full transparency, and speed. Most transfers via Wise reach their destination in 1-3 working days.

Checking the Validity of a SWIFT Code

Before initiating any transaction, it’s prudent to validate the SWIFT code by checking with the recipient or looking it up directly via the official SWIFT code directory. This helps avoid any misdirected payments or security issues caused by an invalid code.

For AAECUS33 specifically, searching the code AAECUS33 on the SWIFT website confirms it’s an active code for Aflac Asset Management LLC in New York City, United States.

Using SWIFT Code AAECUS33 for Transactions

SWIFT codes enable fast and easy cross-border transactions like:

International Wire Transfers

Wire transfers allow direct payments from one bank account to another globally. AAECUS33 can facilitate outbound and inbound USD wires.

Foreign Currency Exchange

Need to convert USD to EUR? SWIFT codes can be used to route currency exchanges between international accounts.

International Payments and Receipts

SWIFT enables business payments to affiliates and associates overseas via linked bank accounts. It also allows collecting international receivables.

Benefits and Risks of Using SWIFT Codes

Now that we’ve seen transactions enabled by SWIFT codes, let’s weigh some general pros and cons:

Ease of International Banking

SWIFT codes facilitate simple and fast worldwide financial communication and value movement. This eases conducting business globally.

Risk of Fraud or Error

However, any transaction risks potential fraud or errors in initiating transfers or identifying beneficiaries. Prudence is essential, and contingencies for misdirected funds should be planned for.

Frequently Asked Questions

What is the routing number?

A routing number helps route domestic bank transfers when the originating and receiving parties have accounts at banks within the same country. SWIFT codes perform an analogous function for international cross-border payments.

Can I use AAECUS33 for domestic transfers?

No, AAECUS33 and SWIFT codes generally route instructions through an international financial messaging network. For domestic US transfers, an American Bankers Association (ABA) routing number is required.

Is a SWIFT code the same as an IBAN?

While related in enabling bank transfers, an IBAN (International Bank Account Number) identifies individual account holders in European countries. A SWIFT code identifies the bank itself at international level.

How do I get a SWIFT code for my bank?

The best way is checking via your bank directly or on the official SWIFT website by searching your bank if published.

Who sets the SWIFT standards?

SWIFT itself oversees creating financial messaging standards that enable secure communication between member banks globally.

In summary, SWIFT Code AAECUS33 helps uniquely identify Aflac Asset Management and allows efficient routing of cross-border payment instructions to and from its accounts internationally. Check carefully when transacting using SWIFT codes and mitigate risks of routing errors or fraud.

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