In today’s globalized financial landscape, ensuring the security and efficiency of international money transfers is paramount. For customers of Eastern Bank PLC (EBL) in Bangladesh, understanding and correctly using the bank’s SWIFT/BIC code is a critical step in this process.
Key Details for International Transfers
Eastern Bank PLC is headquartered in Dhaka, Bangladesh, with its address listed as:
Jiban Bima Bhaban, Floor 1, 10, Dilkusha Commercial Area, Dhaka, Dhaka, 1000, Bangladesh.
The bank’s SWIFT/BIC code, EBLDBDDH001 , serves as a unique identifier for international transactions, guaranteeing accuracy and security when funds are transferred between financial institutions.
Why the SWIFT/BIC Code Matters
When initiating a transfer to Eastern Bank PLC, using the correct SWIFT/BIC code ( EBLDBDDH001 ) ensures that funds are routed to the intended recipient without delays or errors. This code is part of a standardized system employed by banks worldwide to identify specific institutions and their branches.
To avoid complications, always verify the following details before sending money:
- The recipient’s full account details, including name and account number.
- Any additional instructions required for the transfer, such as a reference or purpose of payment.
- The latest bank address and contact information, as discrepancies may trigger regulatory reviews.
Minimizing Risks in International Transfers
Given the complexities of cross-border transactions, even minor errors—such as an outdated address or incorrect SWIFT code—can result in delays or failed transfers. For high-value transactions, double-checking all details with the bank or referring to its official resources is strongly advised.
Financial institutions, including Eastern Bank PLC, adhere to strict compliance measures, and incomplete or mismatched information may lead to additional scrutiny or rejection of the transaction.
Final Considerations
While SWIFT/BIC codes streamline international payments, their accuracy is non-negotiable. Customers should treat these details with the same diligence as they would their account numbers or personal identification. Proactive verification remains the best safeguard against transfer disruptions.