Eritrea — SWIFT/BIC Codes & Payment Info

Payment requirements for Eritrea: Overview:
Information must be provided by the Beneficiary. The remitter should obtain all required bank information from the Beneficiary, including SWIFT BIC, account number, and beneficiary bank address.

Country Requirements/Restrictions:
Payment Restrictions: Foreign exchange payments can only be made to on-shore residents with an in-country presence.

Payment Formatting Rules for ERN:
Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials may delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account number, full name (no initials), and address of the beneficiary customer. Use of initials can delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. Branch name or full beneficiary bank branch address is required to avoid payment delays (this can also be included in F72).
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxERxx or xxxxERxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended.