In today's globalized financial landscape, international money transfers have become increasingly common. However, selecting the correct SWIFT/BIC code is essential to ensure accurate and swift transactions. For those looking to send money to Eastern Bank PLC., understanding its SWIFT/BIC code is crucial. This article provides a detailed breakdown of Eastern Bank's SWIFT code—EBLDBDDH004—and explains how to use it correctly.
Understanding the SWIFT/BIC Code: EBLDBDDH004
The SWIFT/BIC code for Eastern Bank PLC. is EBLDBDDH004 . This alphanumeric sequence ensures that funds reach the intended bank and account during international transfers. Below is an analysis of its components:
- Bank Code (EBLD): The first four letters identify Eastern Bank.
- Country Code (BD): The next two letters indicate Bangladesh as the bank's location.
- Location Code (DH): These two letters specify the bank's primary operational city.
- Branch Code (004): The last three digits pinpoint a specific branch. If a SWIFT code ends with "XXX," it typically refers to the bank's headquarters.
When to Use EBLDBDDH004
The SWIFT code EBLDBDDH004 must be used in the following scenarios:
- Sending money to an account at Eastern Bank PLC. from an international bank.
- Receiving funds from overseas into an Eastern Bank PLC. account.
Always verify the SWIFT code before initiating a transfer. Even minor errors can lead to misdirected funds and delays.
Additional Considerations for International Transfers
Beyond using the correct SWIFT code, keep these factors in mind when transferring money internationally:
- Transfer Amount: Check for minimum or maximum limits imposed by the bank.
- Fees: Compare transaction costs across different service providers to find the most cost-effective option.
- Processing Time: International transfers may take several business days, so plan accordingly.
Conclusion
Using the correct SWIFT/BIC code, such as EBLDBDDH004 , is essential for secure and efficient cross-border transactions. By verifying the code and considering additional transfer details, senders and recipients can ensure smooth fund transfers. Whether for personal or business purposes, understanding these elements enhances the overall banking experience.