BANK OF COMMUNICATIONS CO., LTD., BIC/SWIFT Code Details
COMMAEAD is the SWIFT/BIC code for BANK OF COMMUNICATIONS CO., LTD. in United Arab Emirates. It identifies the head office. The 8-character form is COMMAEAD and the 11-character form is COMMAEADXXX.
Address: CURRENCY TOWER 2 UNIT 02, FLOOR 30 DUBAI INTER'L FINANCIAL, CENTRE DUBAI 507386 UNITED, ARAB EMIRATES
General instructions for international payments to banks in UNITED ARAB EMIRATES:
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 transferSAL - salaryRNT - rent paymentFAM - family supportPPL - purchase of real-estate in UAE by non-residentExample of details of payment for SWIFT transfers to UAE: /BENEFRES/AE/GDI/ invoice 123456Read further technical notes from Central Bank of UAE. Read more
IBAN: Yes. In the United Arab Emirates, the IBAN consists of 23 characters. The structure is AE followed by a check digit of 2 numbers, 3 digits for the bank code, and 16 account number digits (AE2!n3!n16!n). Examples of electronic and print formats include AE987651234567891234567 and AE98 7651 2345 6789 1234 567.
Standard Settlement Instructions (SSI) contain the list of correspondent banks for each currency.
To track a SWIFT cross-border payment to or from BANK OF COMMUNICATIONS CO., LTD., you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.
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