In today’s globalized financial landscape, ensuring accurate and secure cross-border transactions is paramount. One critical element in this process is selecting the correct SWIFT code, which guarantees funds reach their intended destination safely. This article provides a detailed overview of EASTERN BANK PLC.'s SWIFT/BIC code— EBLDBDDH005 —and its significance in international banking.
Overview of the SWIFT/BIC Code
The code EBLDBDDH005 serves as a unique identifier for EASTERN BANK PLC. in international payments and financial transactions. Comprising 8 to 11 characters, SWIFT/BIC codes precisely distinguish financial institutions worldwide. Here’s a breakdown of the components:
- EBLD : Represents the bank’s name (EASTERN BANK PLC.).
- BDDH : Indicates the bank’s location in Bangladesh.
- 005 : Likely designates a specific branch.
Bank Details
Key information about EASTERN BANK PLC.:
- Bank Name : EASTERN BANK PLC.
- City : Dhaka
- Address : Swadhinata Bhaban, Floor GF, 88, Motijheel Commercial Area, Dhaka, 1000
- Country : Bangladesh
When to Use EBLDBDDH005?
Verifying the correct SWIFT code before initiating an international transfer is essential. Using EBLDBDDH005 ensures funds are routed accurately to EASTERN BANK PLC., minimizing delays or errors caused by incorrect codes. Always double-check recipient details and the bank’s SWIFT code before processing transactions.
Importance of SWIFT Codes
The SWIFT network is integral to international banking, enhancing the security and efficiency of cross-border payments. Accurate SWIFT codes prevent transactional errors and safeguard funds during transfers. If EASTERN BANK PLC. is the recipient, using EBLDBDDH005 is mandatory for seamless transactions.
Understanding and correctly applying the SWIFT code EBLDBDDH005 facilitates smooth international transfers while offering robust financial security in a dynamic global economy. Whether for personal or business purposes, verifying SWIFT codes before transactions ensures funds arrive safely at their destination.