ACE Money Transfer
ACE Money Transfer
11 Nov 2026
Sending money to or from Bangladesh through Eastern Bank PLC (EBL) involves more than entering a bank account number and choosing a currency. The sender may need the correct SWIFT code, beneficiary details and, in some cases, correspondent bank information. The total cost can also depend on the sending bank, intermediary banks, foreign exchange conversion and the payment method. It is important to understand the bank’s instructions to help you avoid incorrect details and unexpected deductions.
This guide explains how Eastern Bank international money transfer services work, which SWIFT code to use, what to know about fees and exchange rates, and how to compare a traditional bank transfer with other ways to send money overseas.
Yes. Eastern Bank states that inward remittances can be sent from banks worldwide to an account held with Eastern Bank PLC. The sending bank may request the beneficiary’s account details and, depending on its payment route, correspondent bank information. EBL provides its own inward remittance and transfer instructions for international payments.
An international bank transfer is generally initiated by the sender through their bank or a money transfer provider. The payment is routed through the relevant financial institutions before reaching the receiving bank. Depending on the currency and route, intermediary banks may be involved between the sender’s bank and EBL.
Before arranging a transfer, ask the recipient to confirm the following information directly with EBL:
The recipient’s full name as registered on the bank account.
The EBL bank account number.
The bank’s name: Eastern Bank PLC.
The correct SWIFT/BIC code for the account type and currency.
The branch or other bank details requested by the sending institution.
Any correspondent bank details required by the sending bank.
The sender should check every detail before confirming the payment. Incorrect beneficiary information can result in processing delays, a rejected transfer or the need for the sending bank to investigate and recover the funds.
A SWIFT code, also called a Business Identifier Code (BIC), identifies a financial institution when payment instructions are sent internationally. SWIFT explains that the BIC is an international standard under ISO 9362 and is used to identify institutions and route business transactions. An eight-character BIC identifies the business party, while an optional three-character branch identifier can extend it to eleven characters. Read the official SWIFT explanation of BIC codes.
EBL publishes different instructions for its standard banking services and its Offshore Banking Unit (OBU). It is important not to treat these codes as interchangeable.
| EBL banking arrangement | SWIFT/BIC code | When the information applies |
|---|---|---|
| Standard Eastern Bank PLC contact details | EBLDBDDH | This is the SWIFT code published on EBL’s general contact page. |
| Offshore Banking Unit – USD and EUR | EBLDBDDHOBU | EBL specifies this code for USD and EUR remittances to the relevant offshore banking accounts. |
| Offshore Banking Unit – GBP | EBLDBDDH | EBL specifies this code for GBP remittances to the relevant offshore banking accounts. |
Sources: EBL’s general contact details and its Offshore Banking information.
Important: The OBU codes apply to the relevant offshore banking arrangements; they should not automatically be used for an ordinary EBL account. Before you send money internationally, confirm the account type and currency with the recipient and EBL. If the sender enters an incorrect SWIFT code, the payment may be delayed or require correction.
The exact information requested can vary according to the sending bank, currency, country and payment route. Requirements can also change across different countries and transfer rails, and some destinations may require local routing-format details. However, the sender should be prepared to provide the following details:
| Information | What the sender should provide |
|---|---|
| Beneficiary name | Recipient’s full name as recorded by EBL |
| Bank name | Eastern Bank PLC |
| Bank account number | The recipient’s correct EBL account number |
| SWIFT/BIC | The code confirmed for the recipient’s account type and currency |
| Bank address | The relevant bank or branch address, if requested |
| Correspondent bank details | Only when requested for the specific currency and payment route |
| Payment reference | The purpose of payment or reference requested by the sending bank |
The beneficiary should obtain their account number and name from their bank statement, account documentation or EBL’s official banking channels. Where relevant, the sender should also confirm the correct routing number or local bank identifier required by the recipient's bank. Do not rely on an old payment receipt or details supplied by someone else without checking that they still apply.
A US ABA wire routing number is nine digits long and identifies a financial institution for eligible US payment transactions, including domestic wire transfers. American Bankers Association. The routing number 011301798 belongs to Eastern Bank, the US-based bank headquartered in Massachusetts, and is published on its official website. It should not be confused with the SWIFT/BIC details for Eastern Bank PLC in Bangladesh.
Banking details also vary by destination country. For transfers to Canada, the sender may need the recipient bank's three-digit financial institution number and five-digit branch transit number. Payments Canada. Payments to Mexico may require an 18-digit CLABE (Clave Bancaria Estandarizada), which identifies the recipient's bank account. CONDUSEF. For transfers to Türkiye, the recipient's IBAN contains 26 alphanumeric characters. Central Bank of the Republic of Türkiye.
A correspondent bank is a financial institution that helps another bank process payments in a currency or market where it does not settle directly. An international wire transfer may therefore pass through one or more intermediary banks before reaching the recipient’s bank account.
EBL publishes correspondent banking information and says its International Business Department manages relationships with more than 600 international banks. Its website also lists selected Nostro account details for different currencies, including USD, EUR and GBP. These details can help a sending institution identify an appropriate route when correspondent information is required. See EBL’s correspondent banking information.
Do not select a correspondent bank simply because its details appear on the website. The correct route depends on the payment currency and the instructions provided by the sending bank or EBL. Ask the sender’s bank which correspondent details it requires, then verify those details against EBL’s published information or directly with the bank.
If you are sending money from another country to someone who banks with EBL, the process will depend on whether you use a traditional bank transfer or a money transfer provider.
A conventional international bank transfer is usually arranged through the sender’s online banking portal, mobile banking service or bank branch. The sender enters the beneficiary information, selects the payment currency and confirms the transaction after reviewing the charges, exchange rate, the bank’s daily cut-off time and any daily transfer limit before submission.
A typical process involves these steps:
Obtain the recipient’s details. Ask the beneficiary for their full account name, account number and the correct SWIFT/BIC code.
Confirm the currency. Check whether the payment will be sent in USD, GBP, EUR or another supported currency.
Ask whether correspondent details are required. The sending bank can confirm whether it needs an intermediary bank or Nostro account information.
Enter the payment instructions. Add the beneficiary and bank information exactly as supplied and include the payment purpose or reference if requested.
Review the total cost. Check the sending bank’s fixed fee, exchange rate and any stated intermediary or receiving bank charges.
Confirm and retain the receipt. Keep the transaction reference and payment confirmation so the sender and recipient can follow up if necessary; international wire requests typically must be submitted before the daily cut-off time, and outgoing wire transfers may be subject to daily maximum limits.
EBL’s remittance page directs users arranging transfers to select the relevant currency and follow the applicable MT103 and 202COV formats. These are payment-message formats used in correspondent banking. If the sending bank asks for a particular format or additional instructions, confirm the requirements with EBL rather than adapting the details yourself.
A money transfer provider may offer an alternative to a traditional wire transfer, and some specialist providers may offer lower fees than banks depending on the route and currency. Depending on the provider, the sender may be able to pay by debit card, credit card or online bank transfer and choose from the available receiving methods for international money transfers.
Before using a provider, check whether it currently supports bank deposits to the recipient’s particular EBL account and whether the destination, sending country and payment currency are eligible. Some providers charge no upfront fee for transfers, but the total cost should still be checked. The availability of a bank as a receiving institution should not be assumed simply because a provider supports transfers to Bangladesh.
For example, ACE’s Bangladesh transfer page displays the available payout categories for the selected sending-country journey, including bank, wallet and cash options. Exchange rates fluctuate and the rate you receive may differ from any rates quoted. Always check the live rate at acemoneytransfer.com before sending. The options shown to a sender can depend on the sending country and the recipient’s selected payout method. Check the live recipient-bank list before starting a transaction, and use provider support if anything is unclear.
The cost of an international payment can include more than the fee displayed by the sending bank. Depending on the route, charges may be applied by the sending institution, an intermediary bank or the receiving institution. The amount ultimately credited to the recipient may therefore differ from the amount originally sent.
Transfer fees can range from £0 to £40, depending on the provider, payment method and route. For example, Barclays charges no fee for online international payments, while NatWest International lists a manual international payment fee of 0.3%, subject to a minimum of £23 and a maximum of £40. These charges were checked on 9 November 2026. Actual fees vary by provider and route.
The recipient's bank may also charge for receiving an international payment. For example, Barclays charges £6 for qualifying incoming payments, while TSB lists receiving fees of £0 to £7, depending on the payment. Additional correspondent-bank charges may apply. Lloyds lists correspondent-bank fees of £12 or £20, depending on the destination. These charges were checked on 9 November 2026 and may vary by provider, route and transaction.
EBL publishes a Schedule of Charges for Offshore Banking and International Banking, effective from June 2024. The schedule lists outward remittance SWIFT charges of BDT 500 for amounts below USD 1,000 (or equivalent) and BDT 1,500 for amounts above USD 1,000 (or equivalent), plus VAT. Correspondent bank fees are charged at actual cost. The schedule was checked on 9 November 2026. EBL reserves the right to amend its charges, so confirm the applicable fees with the bank before making a transfer. Its current Schedule of Charges page also provides the latest published schedules for other banking products. The published offshore schedule includes the following entries for outward remittances made through correspondence:
| Charge listed by EBL | Published charge |
|---|---|
| Foreign Telegraphic Transfer | Free |
| SWIFT charge for outward remittance below USD 1,000, or equivalent in another currency | Tk 500 + VAT |
| SWIFT charge for outward remittance above USD 1,000, or equivalent in another currency | Tk 1,500 + VAT |
| Correspondent bank fee | At actual cost |
Source: EBL’s Offshore Banking schedule of charges.
These are published charges for the specified offshore banking and outward-remittance arrangements. They are not a universal fee schedule for every inward international payment or every standard EBL account. Do not use these figures to calculate the cost of receiving money into an ordinary EBL account. Ask EBL and the sending institution for the charges applicable to the particular transaction.
The correspondent bank fee is listed as an actual-cost charge, meaning the amount can depend on the intermediary institution and payment route. The sender should ask whether intermediary fees will be deducted from the transfer or charged separately.
EBL publishes separate schedules for different banking categories, including Retail, SME, Corporate Banking, Cards and Islamic Banking. The relevant schedule and effective date depend on the service being used. Check the bank’s Schedule of Charges and confirm the applicable fee with EBL before arranging a payment.
A fixed fee is only one part of the total cost. A transfer with a lower upfront charge may still deliver less money if the exchange rate includes a larger margin or if intermediary fees are deducted. The Financial Consumer Agency of Canada's research, published in 2026, found that currency conversion mark-ups typically range from approximately 1% to 4%, depending on the bank, currencies exchanged and market conditions. These figures are indicative and do not apply to every bank or transfer. Compare the provider's offered exchange rate with the mid-market rate to understand the potential cost. Compare the amount the recipient is expected to receive, rather than judging a transfer only by its advertised fee.
The exchange rate determines how much the recipient receives when money is converted from one currency into another. For example, a sender may pay in pounds sterling while the recipient receives Bangladeshi taka. Foreign exchange services may also include spot contracts for immediate payments at the current available rate, including when converting a dollar transfer. The conversion rate and any fees applied along the payment route affect the final amount.
EBL publishes foreign exchange rates, including a rate labelled TT Clean Buying. Its Offshore Banking information states that when a foreign currency balance in an offshore banking account is converted into an onshore BDT account, the bank uses its prevailing TT Clean Buying rate on the conversion date. The rate can therefore differ from the one available when the sender first arranges the payment. See EBL’s Offshore Banking information.
You can consult EBL’s Treasury exchange-rate page for its published currency rates. Do not rely on an old bank statement, online article or previous transfer receipt as proof of the rate that will apply to a new transaction.
The mid-market exchange rate is the midpoint between the buy and sell prices of a currency in the wholesale foreign exchange market. It is often used as a reference when assessing a quoted conversion rate. Wise explains the concept in its mid-market exchange rate guide.
A bank or money transfer provider may use its own customer exchange rate rather than the mid-market rate. This means the amount received can differ even when two providers advertise similar transfer fees. When comparing providers, check the exchange rate offered for the same currencies and transfer amount, together with all stated charges.
The Single Euro Payments Area (SEPA) is a framework for euro credit transfers and other payment schemes within its participating geographical area. The European Payments Council publishes the countries and territories included in the SEPA schemes in its official SEPA country list.
Bangladesh is not included in the SEPA scheme country list. Therefore, a euro payment to an EBL account in Bangladesh should not be treated as an ordinary SEPA credit transfer solely because the sender holds a euro account in a SEPA country. The sender should check the bank’s international payment option and follow the applicable SWIFT and correspondent banking instructions.
The receiving bank’s ability to receive EUR does not, by itself, make the destination a SEPA participant. Confirm the payment route, currency, bank details and any intermediary requirements before sending.
International wire transfers typically take one to five business days. For example, Bank of America's international wire guidance, checked on 9 November 2026, gives this timeframe and notes that delivery depends on the currency and receiving bank's processing time. For transfers to EBL, actual timing may vary depending on the sending institution, payment route, currency, intermediary banks, operating hours, public holidays and compliance checks. These are indicative timeframes, not guaranteed delivery times. Incorrect or incomplete beneficiary details may also cause delays.
ACE's official FAQ, checked on 9 November 2026, states that bank deposit delivery times vary by country but are usually within one to two business days. These are estimated timeframes, not guaranteed delivery times. Actual delivery may vary depending on the destination country, banking hours, weekends, public holidays, beneficiary details and additional verification requirements.
Its FAQ also explains that incorrect bank details, differences in time zones, weekends, local holidays, requests for additional information and partner downtime can affect processing. These are general ACE service estimates, not a guaranteed delivery time for every transfer to an EBL account. SWIFT transfers often take up to five business days. Check the estimated delivery time displayed for the specific transaction before confirming it.
For a bank-to-bank SWIFT payment, ask the sending bank for its estimated processing time and whether it can provide a payment confirmation or SWIFT message reference. If the expected delivery window has passed, the sender should contact the sending bank first, as it can investigate the payment route and raise a trace where appropriate. Domestic wire transfers usually complete within 24 hours, so international timelines are often longer.
ACE Money Transfer is authorised by the FCA as a payment institution, with its FRN or a link to its FCA Register entry.
A traditional bank wire transfer is not the only way to send money internationally. Depending on the sending country and the recipient’s needs, money transfer providers may offer bank deposits, cash collection or mobile wallet payments.
When comparing providers, check the following:
Receiving method: Confirm whether the recipient needs a bank account, cash collection or a mobile wallet.
Exchange rate: Compare the rate offered for the same amount and currency pair.
Transfer fee: Check whether the provider charges a fixed fee, a percentage-based fee or both.
Intermediary charges: Find out whether additional banks may deduct fees during a wire transfer.
Delivery estimate: Compare the stated processing time for the exact payment method.
Tracking: Check whether the provider supplies a transaction reference and status updates.
Recipient requirements: Confirm the beneficiary’s identification or account details before paying.
People may compare services such as Wise, Western Union or a bank transfer from a Royal Bank account when deciding how to send money overseas. However, availability, payment methods, exchange rates and fees vary by provider and sending country. Do not assume that a particular provider supports deposits to every EBL account. Check the provider’s own destination and payout options before making a payment.
After sending an international payment, keep the transaction receipt and reference number. These details help the sender contact the sending bank or money transfer provider if the funds do not arrive within the stated delivery window.
For a bank wire transfer, the sender should retain:
The transfer confirmation or receipt.
The payment reference supplied by the sending bank.
The beneficiary’s name and account details used in the instruction.
The transfer date, currency and amount.
Any SWIFT payment confirmation or MT103 copy provided by the bank.
The sender should contact the institution that accepted the payment if a transfer is delayed. The sending institution can check whether the payment has been processed, whether additional information is required or whether a correspondent bank is holding the funds for review. The recipient can also contact EBL with the payment reference and beneficiary account details to ask whether the incoming payment has been received or requires further information.
Do not share full banking credentials, passwords, PINs or one-time verification codes when requesting help with a transfer. Use the bank’s official contact channels.
Using the general EBL SWIFT code when the payment is intended for a specific offshore banking account, or using an offshore code for a standard account, can create problems. Confirm the account type and currency before entering the code.
A mismatch between the beneficiary name and account details can delay processing or cause a payment to be rejected. Copy the details from the recipient’s verified bank information and check them before authorising the transfer.
Some sending banks request intermediary or correspondent details for a particular currency. If those details are missing, the sender should ask the bank whether it needs additional routing instructions from EBL.
The amount received may be lower than the amount sent if the transfer involves sending, intermediary or receiving bank charges, or currency conversion. Ask the sending bank for a breakdown of the charges and check whether the payment is being sent with fees paid by the sender, shared between parties or deducted from the amount received.
A payment can take longer if the banks need to verify the transaction, request additional information or wait for the next business day in a relevant time zone. The sender should use the payment reference to request an update from the institution that initiated the transfer.
EBL’s general contact page lists EBLDBDDH. For its Offshore Banking Unit, EBL specifies EBLDBDDHOBU for USD and EUR and EBLDBDDH for GBP. The correct code depends on the account type and currency, so confirm the details before sending.
EBL states that inward remittances can be sent from banks worldwide to an account held with Eastern Bank PLC. The sender must use the correct beneficiary and bank details and provide correspondent information if the sending institution requires it.
The applicable fee depends on the account and payment arrangement. EBL’s published Offshore Banking charges include specific outward-remittance and correspondent-bank fees; those figures should not be treated as charges for every inward transfer. Ask EBL for the current charges applicable to the recipient’s account if they will receive money from abroad. Wise's official USD receiving fees page, checked on 9 November 2026, lists a fixed fee of USD 6.11 per payment for receiving USD by wire transfer or SWIFT. This fee applies to the specified USD receiving methods and may change. Additional correspondent-bank charges may also be deducted, depending on the payment route. Confirm the applicable fee on Wise's pricing page before receiving a transfer.
EBL publishes selected correspondent bank and Nostro account details for several currencies. The correct correspondent bank depends on the currency and payment route. The sender should use the details requested by their bank and verify them against EBL’s official correspondent banking information.
The appropriate international payment route depends on the sending bank and the recipient’s account. Bangladesh is not listed among the countries and territories in the SEPA schemes, so the sender should check the international wire transfer route and the applicable EBL EUR instructions before sending.
The time depends on the sending method, banks involved, currency, operating hours and any additional checks. ACE’s general bank deposit estimate is usually one to two business days, but this is not a guaranteed delivery time for every EBL transaction. Check the estimate shown for the specific transfer.
You may be able to initiate an international wire transfer through your bank’s online banking portal or mobile banking service if the bank offers that facility. The sender should confirm the international transfer option, required beneficiary details, fees and payment limits with their own bank.
No. The account number identifies the recipient’s account, while the SWIFT/BIC identifies the financial institution or relevant banking unit. An international payment may require both, along with other beneficiary and routing information.
An Eastern Bank international money transfer can be arranged through a bank or an eligible money transfer provider, but the sender needs to use the correct beneficiary information and payment route. The most important detail is to distinguish EBL’s standard SWIFT code from the codes specified for its Offshore Banking Unit. Correspondent bank details may also be required, depending on the sending institution and currency.
Before sending money, confirm the recipient’s account number, account name, SWIFT/BIC, currency and any intermediary instructions. Compare the full cost of the transaction, including the exchange rate and possible bank charges, rather than looking at the transfer fee alone. Checking the payment method and delivery estimate in advance can help reduce avoidable delays and make it easier to track the funds if a problem occurs.
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.
