United Arab Emirates: SWIFT/BIC Codes & Payment Info

Payment Formatting Rules for AED:

• Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), address, and trade license number, registration number, or unique identification number for commercial, business, or corporate entities. Use of initials can delay receipt of funds by the beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Include account number (IBAN), full name (no initials) and address of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary. IBAN numbers for beneficiaries with accounts in U.A.E. are required in the payment instructions.
• Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier, full name and address of the beneficiary bank. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAExx or xxxxAExxxxx.
• Additional Information: Payment instructions must include a 3-character purpose of payment code to avoid payment delays or returns. Include this in SWIFT MT103 F72 (reason for payment, often called payment details field) using the format: /BENEFRES/AE//???/Additional narrative where ??? represents the 3-character purpose of payment code. If the beneficiary is not a resident of UAE, replace AE with the country code of the beneficiary.

Some of the commonly used purpose of payment codes:

• OAT - own account transfer
• SAL - salary
• RNT - rent payment
• FAM - family support
• PPL - purchase of real-estate in UAE by non-resident

Example of details of payment for SWIFT transfers to UAE: /BENEFRES/AE/GDI/ invoice 123456

Read further technical notes from Central Bank of UAE.