ACE Money Transfer
ACE Money Transfer
11 Nov 2026
First Security Islami Bank (FSIB) has historically provided banking and international remittance services to customers in Bangladesh through arrangements with overseas money transfer providers. However, the bank's position changed following its inclusion in the five-bank merger that led to the formation of Sammilito Islami Bank PLC. This transition is important for Bangladeshis living abroad who want to send money to family members or understand how remittances involving former FSIB accounts may be handled.
This guide explains FSIB's historical international money transfer arrangements, the 2026 merger, its SWIFT code, and the information recipients may need. It also covers ways to send money to Bangladesh through ACE, including available payment and receiving methods, fees, delivery estimates and transfer tracking.
First Security Islami Bank PLC was a Shariah-based commercial bank in Bangladesh. Its official corporate information records that it began banking operations in 1999 and converted to a full-fledged Islami bank in 2009. The bank provided services through branches and other banking channels, including internet and mobile banking.
FSIB also had arrangements that allowed customers in Bangladesh to receive money sent from overseas. These included agreements with international remittance providers and services intended to help customers receive funds through cash collection or bank account credit. These arrangements are part of the bank's historical remittance activity and should not automatically be treated as confirmation that the same services remain available following the merger.
First Security Islami Bank became part of the five-bank merger that created Sammilito Islami Bank PLC. According to FSIB's official corporate announcement, Sammilito Islami Bank formally assumed overall operational and administrative responsibility for FSIB on 10 August 2026. The handover took place at Bangladesh Bank's head office.
This transition matters to customers who previously held accounts with First Security Islami Bank. Banking services and administrative responsibilities are now associated with Sammilito Islami Bank's arrangements. Customers should therefore use the successor bank's official channels to confirm account-related questions, remittance crediting arrangements and any changes to banking procedures.
The merger also means that historical information about FSIB's international remittance partners should be read in context. An agreement announced by FSIB before the merger does not, by itself, establish that the same provider, payout arrangement or account-crediting process remains active under Sammilito Islami Bank.
For questions about former FSIB accounts, customers can contact Sammilito Islami Bank through its official helpdesk at 16246 or by email at helpdesk@sammilitobankbd.com. These contact details are published on the bank's official helpdesk page.
Before the merger, FSIB announced arrangements with international remittance providers to facilitate the receipt of money sent to Bangladesh. Two examples from the bank's published announcements are its agreement with Xpress Money and its remittance account-validation agreement with ekpay.
On 23 January 2017, First Security Islami Bank signed a remittance drawing arrangement agreement with Xpress Money Services Limited. FSIB's announcement stated that customers could receive remittances through Xpress Money in cash over the counter or through credit to a bank account.
This announcement documents a historical arrangement. It should not be interpreted as confirmation that Xpress Money currently processes payments to former FSIB accounts or that the same cash collection and account-credit options remain available after the merger. Customers should check with the relevant provider and Sammilito Islami Bank before relying on this arrangement.
FSIB also announced an agreement with ekpay for remittance account validation. The arrangement was intended to allow a customer's bank account to be verified before an overseas remittance was sent, helping the sender check the account details before proceeding.
Account validation is relevant to international transfers because incorrect beneficiary information can cause payment delays or prevent funds from reaching the intended account. However, the historical announcement does not confirm the current availability of this specific validation arrangement following the merger.
The SWIFT code historically published by First Security Islami Bank was FSEBBDDH. FSIB's corporate information page lists this code, and its published SWIFT information also identifies it as the head-office code.
Following the merger, Sammilito Islami Bank's official website continues to list FSEBBDDH alongside the SWIFT identifiers of the five merged banks. This information was checked on 9 November 2026. SWIFT details may change, so confirm the correct code directly with Sammilito Islami Bank before initiating an international transfer.
A SWIFT code, also known as a Business Identifier Code (BIC), is used to identify organisations involved in financial transactions. The BIC standard is defined under ISO 9362 and helps identify business parties and route financial messages.
The code FSEBBDDH is an eight-character identifier. A BIC can also include an optional three-character branch identifier where one is assigned.
If you are sending money to a former FSIB account, do not rely on an old SWIFT code alone. Confirm the beneficiary's current account details and the correct banking instructions with Sammilito Islami Bank before initiating an international transfer.
The information required for an international bank transfer depends on the sending provider, the receiving bank and the payment route. A sender may be asked to provide:
The recipient's full name, matching the bank account.
The beneficiary's bank account number.
The name of the receiving bank.
The bank's SWIFT or BIC code, if required for the transfer.
The branch name or address, where requested.
The recipient's contact details, where required by the provider.
Always confirm the exact details with the receiving bank. This is particularly important for former FSIB customers because the bank's operational responsibilities were transferred to Sammilito Islami Bank.
Incorrect or incomplete beneficiary information can delay a bank deposit. ACE also identifies inaccurate recipient details as a factor that may affect delivery times.
ACE Money Transfer Limited is authorised by the UK Financial Conduct Authority (FCA) as an Authorised Payment Institution (API) under Firm Reference Number (FRN) 506692 to provide payment services in the UK. Its authorisation can be verified through the FCA Financial Services Register. This information was checked on 9 November 2026. Customers can use a phone or the website/app to complete the process in an easy way.
To arrange a transfer, follow these step-by-step actions:
Create an account: Register through the ACE website or mobile app and complete the required profile information.
Choose Bangladesh: Select Bangladesh as the destination country.
Select a receiving method: Choose from the payout methods displayed for the transaction, such as bank deposit or cash pickup where available.
Enter the recipient's details: Provide the information requested for the selected payout method. For a bank deposit, check the beneficiary's account details carefully.
Enter the amount: Specify how much you want to send and review the exchange rate and applicable charges. Exchange rates fluctuate and the rate you receive may differ from any rates quoted. Always check the live rate at acemoneytransfer.com before sending.
Choose a payment method: Select one of the funding options available in your sending country.
Review and confirm: Check the recipient information, transfer amount, fees, exchange rate, estimated delivery time, and any transaction limits shown before completing the transaction.
ACE's online transfer guidance explains the registration, recipient selection and payment steps. Transfer limits can depend on the account verification level and are displayed during setup. Available options can differ depending on the country from which the money is sent.
Important: ACE's published Bangladesh information confirms bank deposits and cash pickup as receiving methods, but it does not establish a specific partnership with First Security Islami Bank or guarantee that transfers can be credited to every former FSIB account. Before sending money to such an account, confirm with Sammilito Islami Bank that it can receive the transfer using the details provided.
The payment method used by the sender is different from the method through which the recipient receives the money. The available options depend on the sending country, destination and transaction.
ACE lists the following online payment methods:
Debit card
Credit card
Online bank transfer
Bancontact, where available in Belgium
iDEAL, where available in the Netherlands
Apple Pay
Google Pay
Not every method is available in every country or for every transaction. Customers should check the payment options displayed in their ACE account before proceeding.
ACE's Bangladesh destination page lists bank deposit and cash pickup among its receiving options. Bank deposit can also provide access to trusted banking channels in Bangladesh when that route is available. It also identifies mobile wallet services, including bKash, Rocket and Nagad, as available options on the destination page. The actual options shown to a customer should be checked before creating a transfer.
For a bank deposit, the receiver's account details must be entered accurately. For cash pickup, the recipient may need the transaction reference or PIN and valid identification. Correct receiver details help keep the transfer secure. ACE's FAQ explains the information required for cash collection.
The total cost of an international money transfer may include a transfer fee and the effect of currency conversion. The amount received in Bangladesh can therefore depend on the sending amount, the exchange rate, the selected payment method and the receiving option.
ACE advises customers to check the applicable rate and charges for their specific transaction before confirming payment. The available rates, fees and offers can vary by sending region and transaction.
ACE also publishes a Fees and Commissions Transparency document, which sets out fee information for listed destinations and payout categories. The figures in a published schedule should not be assumed to apply to every sending country or transaction. The fee and exchange rate displayed during the transfer process are the relevant details to review before payment. FSIB's published Schedule of Charges lists a BDT 500 charge for inward remittances received through FTT/FDD, other than wage-earner remittances. Applicable charges may vary according to the remittance type and payment route. The schedule does not specify a clear effective date, so confirm the current charges directly with FSIB before making a transfer. The total amount received may also be affected by fees charged by the sending provider or intermediary banks and by the exchange rate.
The time required for an international transfer depends on the payment method, receiving option, banking hours, and any checks required during processing, so delivery can be fast in some cases.
ACE provides the following general delivery estimates:
| Payment or receiving method | Published general estimate |
|---|---|
| Debit or credit card payment | Most transactions are completed within minutes. Rates and fees may vary. Visit acemoneytransfer.com for current rates. |
| Online bank transfer | Usually 1–2 banking days. Rates and fees may vary. Visit acemoneytransfer.com for current rates. |
| Bank deposit | Usually 1–2 business days, depending on the destination. Rates and fees may vary. Visit acemoneytransfer.com for current rates. |
| Cash pickup | Generally available for collection once ready; transfers created after banking hours, on weekends or public holidays may be available the next day. Rates and fees may vary. Visit acemoneytransfer.com for current rates. |
Many customers use direct bank routes to transfer money when they want a fast deposit to Bangladesh.
These are general estimates, not guaranteed delivery times. ACE notes that incorrect details, time-zone differences, bank working hours, weekends, public holidays, additional verification requests and partner service interruptions can affect processing.
For a transfer to a former FSIB account, the recipient should also allow for any checks or instructions required by Sammilito Islami Bank. Confirming the account's ability to receive the payment before sending can help avoid problems.
After creating a transfer, customers can check its progress through ACE's website or mobile app. ACE's FAQ explains that users can review a transaction through their account's transaction history or use the Track Your Transfer option on the website with the transaction number.
The transaction status can indicate where the payment is in the process. For example, ACE explains that a bank deposit marked as Sent for Payout has been processed and forwarded to the recipient bank, while Credited indicates that the recipient's account has been credited according to the receiving bank's response.
If a transfer is delayed or the status is unclear, check the transaction details and any messages from ACE. If the issue relates to the recipient's former FSIB account, contact Sammilito Islami Bank through its official helpdesk.
A transfer may take longer than expected for several reasons. These include:
Incorrect beneficiary details: A spelling error or incorrect account number may prevent the receiving bank from matching the payment to the intended account.
Banking hours and holidays: The receiving bank may not process payments outside its operating hours or during public holidays.
Verification requirements: The sending provider may request additional information or documents before processing a transaction.
Payment processing delays: Online bank payments can depend on the sender's bank, intermediary institutions and their processing cut-off times.
Receiving-bank procedures: The recipient bank may need additional time to process or confirm an incoming payment.
International transfer systems generally use bank-level encryption protocols to help keep transaction data safe. Remittance handling is subject to applicable anti-money laundering and counter-terrorist financing requirements in Bangladesh. The Bangladesh Financial Intelligence Unit (BFIU) issues instructions to scheduled banks under BFIU Circular No. 26, dated 16 June 2020. FSIB's Annual Report 2023 also outlines the bank's AML/CFT compliance procedures and its implementation of BFIU guidelines.
ACE lists inaccurate information, time-zone differences, banking hours, additional information requests and partner downtime among factors that can affect delivery.
If the recipient is using an account previously held with FSIB, they should also verify the current account and remittance instructions with Sammilito Islami Bank.
Before arranging an international transfer, take a few practical steps. This is not financial or legal advice. Please consult a qualified professional.
Confirm the account details: Ask the recipient to verify their current account information with Sammilito Islami Bank before sending funds to loved ones in Bangladesh.
Check the SWIFT code: Use the banking details confirmed by the receiving bank rather than relying solely on historical information.
Review the payout method: Make sure the selected provider supports the intended receiving method and destination.
Check the exchange rate and fees: Review the amount the recipient is expected to receive after charges before confirming the transfer.
Keep the transaction reference: Save the confirmation and reference number so the transfer can be tracked.
Contact the bank if necessary: Use Sammilito Islami Bank's official helpdesk for questions about former FSIB accounts or incoming remittances.
These checks help keep the transfer safe for both sender and receiver. These checks are particularly relevant during a banking transition, when historical arrangements and current procedures may differ.
First Security Islami Bank's operational and administrative responsibilities were transferred to Sammilito Islami Bank on 10 August 2026. Customers should confirm the status of the recipient's account and the correct remittance details with Sammilito Islami Bank before sending money.
Sammilito Islami Bank PLC assumed overall operational and administrative responsibility for First Security Islami Bank on 10 August 2026 as part of the five-bank merger process.
ACE lists bank deposit as a receiving method for customers sending money to Bangladesh, allowing funds to be transferred directly to a beneficiary's bank account. The banks available for receiving transfers depend on the sending country and the payout options displayed when the transaction is initiated. ACE's Bangladesh transfer page provides details of the available receiving methods. However, availability for a particular bank account should be confirmed for the selected transfer route. Former FSIB account holders should check with Sammilito Islami Bank before sending money.
According to ACE's official delivery time guidance, checked on 9 November 2026, most debit- or credit-card-funded transactions are estimated to be completed within minutes, while online bank transfer payments generally take one to two banking days. These are indicative timeframes, not guaranteed delivery times. Actual processing and delivery may vary depending on beneficiary details, time zones, banking hours, weekends, public holidays, additional verification requirements and operational circumstances.
The sources cited in this article do not establish a direct partnership between ACE and First Security Islami Bank. ACE lists bank deposit and cash pickup among its Bangladesh receiving options, but customers should rely on trusted official sources and confirm whether a specific recipient account route remains available before completing the transfer.
First Security Islami Bank historically supported international remittances through arrangements with overseas providers, including Xpress Money and an account-validation agreement with ekpay. Following the 2026 merger, Sammilito Islami Bank assumed the bank's operational and administrative responsibilities. Anyone sending money to a former FSIB account should confirm the current account details and remittance instructions before making a transfer. For transfers through ACE, check the available receiving methods, exchange rate, fees and estimated delivery time before confirming payment.
Disclaimer: This article is intended for general informational and educational purposes only and should not be construed as legal, regulatory, tax, business, or financial advice. While reasonable efforts have been made to ensure that all facts, figures, and data are accurate and valid as of the date of publication, no warranty or guarantee is given as to the ongoing completeness, accuracy, or currency of the information.
The content is based on information available at the time of publication. Regulations, government policies, market conditions, and service offerings may change over time and vary across jurisdictions and providers. As a result, some information may no longer be current or applicable. Readers should independently verify all information and consult qualified professional advisors before making any financial, legal, or business decisions.
