When processing international wire transfers, concerns about security and accuracy often arise. Selecting the correct SWIFT/BIC code is a critical step in ensuring funds are transferred safely and efficiently. This article provides detailed information about Eastern Bank PLC's SWIFT/BIC code and related details to facilitate seamless cross-border transactions.
Key Banking Information
Eastern Bank PLC's SWIFT/BIC code is EBLDBDDH005 . This unique identifier serves not only as the bank's official designation but also as an essential tool for guaranteeing precise payments in international transfers. When initiating a transfer to this institution, the code must be used to identify both the bank and its specific branch.
The bank's complete details are as follows:
- Bank Name: Eastern Bank PLC
- City: Dhaka
- Address: Swadhinata Bhaban, Floor GF, 88, Motijheel Commercial Area, Dhaka, Dhaka, 1000
- Country: Bangladesh
Practical Transfer Example
Consider a scenario where you need to send $10,000.00 to an account at Eastern Bank. After currency conversion, you might receive approximately €8,490.00 (based on current exchange rates). This example demonstrates how the actual received amount can vary due to exchange rate fluctuations. It's important to note that conversion rates applied by financial institutions may differ from market mid-rates, and the final amount received could be affected by bank policies and prevailing exchange rates at the time of processing.
The Importance of SWIFT/BIC Codes
SWIFT/BIC codes serve multiple crucial functions in international banking:
- They enable rapid and accurate identification of financial institutions worldwide
- They simplify the complexity inherent in cross-border transactions
- They facilitate communication between banks during the clearing process
The code EBLDBDDH005 plays a vital role when Eastern Bank needs to coordinate with other financial institutions for fund clearance. Using the correct SWIFT/BIC code significantly enhances both the security and efficiency of international transfers.
Essential Considerations
When conducting international transactions, attention to detail is paramount. Verifying banking information, particularly the SWIFT/BIC code, helps prevent potential delays and errors. Before initiating any transfer, it's advisable to:
- Double-check all banking details with the recipient
- Understand applicable fees and charges
- Be aware of potential exchange rate fluctuations
- Allow sufficient processing time for international transfers
By ensuring the use of Eastern Bank's correct SWIFT/BIC code EBLDBDDH005 , individuals and businesses can conduct international transactions with greater confidence and reliability.