SWIFT/BIC codes in Maldives

Bank SWIFT codes for Maldives

This directory covers 9 banks and other institutions in Maldives and 9 SWIFT/BIC codes between them. Each code identifies a bank or a specific branch or department.

Look for the bank you need below and open its page for all codes we have. Below the list we explain how a code from Maldives is put together, how to send money there without overpaying and what to check before you pay.

Check the code before you pay

The most reliable place for the right code is a document from the bank itself, such as a statement or the account page in online banking. When the code you were given does not match our list, do not guess – contact the recipient or their bank.

Our SWIFT/BIC directory is based on publicly available sources. Institutions reorganise, close branches and retire codes, and no directory catches every change immediately. Use this list as a starting point; the recipient’s bank details are leading. GoldexPay is not a bank and has no link to the banks in this list.

Watch out for payment requests containing a new account. Always verify changed details by phone.

The largest SWIFT network in Maldives: Bank of Ceylon

In our directory, Bank of Ceylon holds the largest number of SWIFT/BIC codes in Maldives. Its head office code is BCEYMVMVXXX, which is the code to use when no branch is specified.

Banks differ in how many codes they register, so the count is not a ranking of size. Making a payment to Bank of Ceylon? Use BCEYMVMVXXX except when the recipient gives you a branch code.

How long does a transfer to Maldives take?

An international transfer to Maldives usually needs anywhere from one to several business days – it depends on currency, route and the banks in between. Bank holidays in either country add a day or more.

If a transfer seems delayed, ask the sender to contact the sending bank and ask for the status or the UETR. Money transfer services often provide a status in their app, which makes it easier to see where the money is.

What the letters in a Maldives BIC mean

Bank identifier codes follow the same format worldwide: eight characters plus an optional three-character extension. First comes four letters for the bank, then two letters for the country and two characters for the location.

You can recognise a code from Maldives from letters five and six – those always form the country code of Maldives. When those two letters do not match Maldives, the code belongs to a bank in another country.

The last three characters, if present, stand for a branch or department; XXX means the head office. Use a branch code just when the recipient’s bank asks for it; otherwise the head office code is the safe choice.

Paying a bank in Maldives from abroad

Because Maldives is outside SEPA, an international payment normally goes as a SWIFT payment. This means the payment always needs the BIC of the receiving bank.

Not all countries use the IBAN. Check with the recipient which details their bank requires for payments from abroad; banks often publish instructions for this. Before it arrives, a transfer can go through correspondent banks that take a fee.

Incoming international payments in Maldives

If you expect money from abroad in Maldives, send the payer a complete set of details. Share the account holder’s name, your account number or IBAN, the BIC of your bank and your address.

The code of your bank appears in the list on this page but always compare it with your own bank details. Some banks also ask for your bank’s address.

Do not be surprised if the amount credited is below the amount on the sender’s receipt. Intermediary banks may deduct a fee, your bank may charge for incoming payments, and if the money is converted, an exchange rate margin applies. Agree with the sender who pays which costs.

What a transfer to Maldives really costs

If you transfer money to Maldives via a regular bank, the stated fee is only part of the cost. There is a transfer fee, sometimes fees from correspondent banks along the way and, most importantly, the exchange rate markup if the money is converted.

That exchange rate margin tends to be the biggest cost item because it is hidden in the rate. Check the rate you are offered with the mid-market rate.

For a lot of currency pairs, a transfer service is cheaper than a bank, mainly because of the rate. Before your next transfer to Maldives, it is worth comparing the total cost via GoldexPay rather than accepting the first rate you see.