In today's globalized financial landscape, selecting the right bank branch and understanding international transfer procedures are critical for individuals and businesses alike. When sending money across borders, ensuring the accuracy of the SWIFT code is paramount to guarantee secure and timely delivery of funds. This article provides a comprehensive guide to Eastern Bank Plc.'s key branches in Bangladesh, their SWIFT codes, and essential insights into efficient cross-border transactions.
Eastern Bank Plc. Branch Network
Before initiating an international transfer through Eastern Bank Plc., it's important to understand the bank's distribution across Bangladesh. Below is a list of major branches and their corresponding SWIFT codes:
- EBLDBDDH001 : Located in Dhaka's Dilkusha Commercial Area at Jiban Bima Bhaban, Floor 1, 10, Dhaka, Dhaka, 1000. This serves as the bank's headquarters and offers full-service operations.
- EBLDBDDH002 : Also in Dilkusha Commercial Area at Jiban Bima Bhaban, Floor GF, 10, Dhaka, Dhaka, 1000. This branch specializes in premium client services.
- EBLDBDDH003 : Situated in Chittagong's Agrabad Commercial Area at 75, Agrabad Commercial Area, Chittagong, Chittagong, 4100, serving as a key eastern regional branch.
- EBLDBDDH004 : Located in Khulna at 07 Old Jessore Road, Khulna, Khulna, 9100, catering to southern region clients.
- EBLDBDDH005 : Found in Dhaka's Motijheel Commercial Area at Swadhinata Bhaban, Floor GF, 88, Dhaka, Dhaka, 1000, another important commercial district branch.
- EBLDBDDH006 : Positioned in Chittagong's Khatunganj at 173 Badsha Market, Khatunganj, Chittagong, Chittagong, 4000, particularly important for local merchants.
- EBLDBDDH007 : Located on English Road in Dhaka at Floor 1, 05 English Road, Dhaka, Dhaka, 1100, known for its customer service quality.
- EBLDBDDH008 : Situated in Sylhet's New Market at 1818 Laldighir Paar, New Market, Sylhet, Sylhet, 3100, focused on local market needs.
If your required branch isn't listed, you can still initiate international transfers using Eastern Bank's headquarters SWIFT code. Always verify banking details with your financial institution to ensure secure fund transfers.
Understanding SWIFT Codes
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code is a standardized identifier used in international banking transactions. Comprising 8-11 characters, the code structure includes:
- First 4 characters: Bank code (e.g., "EBLD" for Eastern Bank)
- Next 2 characters: Country code
- Following 2 characters: Location code
- Optional final 3 characters: Branch code
Using the correct SWIFT code is critical - errors can lead to transfer delays or failures. Always double-check the code provided by the recipient's bank before initiating any SWIFT transfer.
International Transfer Process
For clients using Eastern Bank Plc. for international transfers, follow these steps:
- Confirm transfer requirements : Verify the total amount, recipient's bank details including SWIFT code, account number, and full name.
- Access banking services : Visit a branch or use the bank's online platform.
- Complete the transfer form : Ensure all information is accurate, especially the SWIFT code and account details.
- Pay applicable fees : Understand the fee structure as costs vary significantly between banks and transfer methods.
- Verify all details : Review all information before submission.
- Obtain confirmation : Keep the transaction receipt and utilize tracking services if available.
Transfer Channel Options
Modern financial services offer multiple options for international money transfers:
- Bank transfers : Traditional but secure, ideal for large amounts though processing times may be longer.
- Online platforms : Services like Wise or Remitly often provide faster transfers and competitive exchange rates.
- Mobile banking : Many banks offer mobile apps for convenient international transfers.
Potential Risks in International Transfers
While the process appears straightforward, several risks require attention:
- Exchange rate fluctuations : Currency values can change between transfer initiation and completion.
- Hidden fees : Some institutions may incorporate charges within exchange rates.
- Incorrect information : Wrong account details or SWIFT codes can result in failed or misdirected transfers.
- Fraud risks : Always verify the legitimacy of financial institutions and protect personal information.
Conclusion
Understanding Eastern Bank Plc.'s branch network and SWIFT codes is fundamental for successful international transactions. By selecting appropriate banking channels, verifying SWIFT codes, and comprehending the transfer process, individuals and businesses can ensure secure and efficient cross-border payments. For specific inquiries, professional guidance from bank representatives is recommended to navigate the complexities of international finance.