Detailed Guide: Using DAEGU BANK, LTD.,THE SWIFT Code for Global Transfers
When dealing with international finance, precision is paramount. The DAEBKR22 Business Identifier Code (BIC) is the exclusive digital signature for DAEGU BANK, LTD.,THE located in DAEGU. Without this precise string of characters, your international wire transfer could be delayed, routed to the wrong intermediary, or returned with significant banking fees.
1. Understanding the 11-Character Logic
The code DAEBKR22 is not a random sequence. It follows a strict ISO-9362
hierarchy that tells the global financial system exactly where your money needs to land:
- DAEB: The Bank Code representing DAEGU BANK, LTD.,THE globally.
- KR: The Country Code, identifying that the bank is regulated under South Korea laws.
- 22: The Location Code, usually pointing to the DAEGU hub.
- XXX: The Branch Code, specifying this exact physical office.
2. How to Receive Money in DAEGU
If you are a resident or business owner in DAEGU, you must provide the following information to your international sender. For transactions involving DAEGU BANK, LTD.,THE, ensure these fields are filled accurately in the MT103 (SWIFT Message Type):
| Field Name | Required Value |
|---|---|
| Beneficiary Name | Your Full Legal Name |
| Account Number | IBAN or Regional Account Format |
| BIC/SWIFT | DAEBKR22 |
| Destination Bank | DAEGU BANK, LTD.,THE |
| Branch Location | DAEGU, South Korea |
3. Potential Fees & Intermediary Banking
It is important to note that a transfer to DAEGU BANK, LTD.,THE might not be direct. Depending on the relationship between your sender's bank and the KR banking system, an "Intermediary Bank" might be involved. These banks may deduct a "Handling Fee" ranging from $15 to $50. Always ask your sender to choose the OUR instruction if they wish to cover all costs, or SHA to share the fees with you.
4. Frequently Asked Questions (Verified Answers)
What happens if I use the Head Office SWIFT instead of the DAEGU branch code?
In most cases, DAEGU BANK, LTD.,THE will
automatically route the funds to your account based on your Account Number/IBAN. However,
using the local DAEBKR22 is recommended for faster processing
and lower risk of manual intervention.
Is DAEBKR22 the same as a Routing Number?
No. Routing numbers are primarily used for domestic transfers within the USA. For international transfers to South Korea, the SWIFT code is the standard identifier used by the global banking network.
How can I verify if this code is still active?
The code DAEBKR22 for
DAEGU BANK, LTD.,THE is part of the latest directory update. We
periodically refresh our database to ensure all codes for DAEGU are compliant
with current financial standards.
Note: Financial data changes. While DAEBKR22 is
verified for DAEGU BANK, LTD.,THE, always perform a small test transfer for high-value
transactions. This resource is for educational purposes regarding the banking infrastructure in
DAEGU, South Korea.