Federal Exchange SWIFT/BIC code

Federal Exchange SWIFT code: FEDXAE21

Whether a recipient gives you FEDXAE21 or FEDXAE21XXX, it is the identical address for Federal Exchange in United Arab Emirates. A SWIFT code tells the sending bank which institution should receive the money, a bit like a postal address for banks. It comes up mostly when dealing with transfers between countries or a currency.

On this page you will find how the code is put together, when it matters and which other details a transfer to or from Federal Exchange requires. Keep in mind that the SWIFT code just identifies the bank, not the person: the account number or IBAN does that part.

Scams that use SWIFT codes

Criminals often send fake invoices containing changed bank details. The fact that FEDXAE21 exists is no guarantee that the account is legitimate.

Always verify a change of bank details through a phone call. Be suspicious of time pressure, odd spelling or a sender address that is slightly off. Already paid? Call the bank you paid from without delay and have them start a recall and report the fraud.

Recipients are targeted too: one known trick is an overpayment followed by a request to refund the difference abroad. A screenshot of a transfer is no proof; only your own account shows what has arrived.

Paying into Federal Exchange in AED

Most accounts at Federal Exchange are typically held in AED, the national currency. Money sent in a different currency is exchanged into AED on its way to Federal Exchange. Each conversion costs the amount, even when no fee is shown.

Which bank converts the payment matters: every bank has its own margin. Transferring the amount directly in AED usually avoids a second conversion, provided the rate you get is fair.

The rate for AED changes throughout the day and quotes are often valid only for a short time. If you pay regularly, small differences in the rate make a real difference over time.

Choosing between the 2 SWIFT codes of Federal Exchange

We have 2 SWIFT/BIC codes for Federal Exchange. Next to the head office code FEDXAE21XXX, you will find codes for regional offices and specialised units.

Unless the recipient tells you otherwise, use FEDXAE21XXX or its short form FEDXAE21. If you have been given a specific code, use it as it is instead of swapping it with the head office code.

Unsure which code to use? Check with the recipient. Branch codes are sometimes changed or retired over time.

Transfer times and tracking a payment to Federal Exchange

There is no single delivery time for every transfer: some land within a day. Transfers sent after the cut-off time or on weekends and holidays usually start a business day later. Occasionally a bank asks what the payment is for before releasing it.

If the money is late, ask the sending bank about the tracking status and the transaction reference so they can trace it along the chain. Keep your transfer receipt until the money has arrived.

If the money does not arrive within the expected time, the person who paid needs to contact the bank that sent it rather than Federal Exchange. Request from the sender a copy of the payment confirmation; that often settles the question quickly.

About this information

The codes on this page are taken from public sources. It can happen that information on this page is no longer current, for example after a merger. Figures such as the number of codes are from our directory.

Treat our data as a reference, rather than as the final word: the recipient’s bank details come first. We are a comparison site for money transfers and not part of Federal Exchange. If you notice a mistake, we appreciate a short note via the contact page.

What the XXX in FEDXAE21XXX means

The layout of a BIC never changes: a bank code of four letters, a two-letter country code and a two-character location code. In this case, that core is FEDXAE21.

The 11-character version has a three-character extension for a branch or department. When those three characters are XXX, the code points to the head office, which is why FEDXAE21XXX and FEDXAE21 lead to the same place.

Do not add spaces, dots when you type FEDXAE21 or FEDXAE21XXX. A wrong character may route a payment to another bank, so copy it carefully.

How to check FEDXAE21 before you pay

The most reliable source for the BIC is the recipient’s own bank details. Check it against FEDXAE21 on this page.

If the code is wrong, the transfer might get stuck, bounce back or end up costing more – sometimes after weeks of searching. A mistake in the account number is a bigger problem, because the money may be credited to someone else.

An automatic check by your bank only confirms that the code exists – not that it belongs to the person you mean to pay. More and more banks check the payee name against the account. Sending a small amount first is a sensible step for a large first payment, even if it costs an extra fee.

Paying someone abroad from your Federal Exchange account

What you pay for a payment abroad has more than one component, and the transfer fee is only the most visible one. Besides the transfer fee, correspondent or intermediary banks may take a cut, and when currencies are converted, the bank usually applies a rate below the actual market rate.

Most of the cost usually sits in the exchange rate: many banks convert at a rate with a margin built in. Compare the rate you are offered against the mid-market rate – the rate you find on financial news sites. The difference is your real conversion cost.

Specialised transfer providers often offer a rate near the mid-market rate and lower fees. On GoldexPay you can compare what recipients receive across providers, so you can pick the cheapest route. You can still keep your account at Federal Exchange to fund the transfer.

Incoming international payments to Federal Exchange

For an international payment at Federal Exchange, the sender has to have more than the SWIFT code. Give them your name as the bank knows it, your account number or IBAN, the BIC FEDXAE21XXX and your address, which some banks require.

Their bank may also ask for the bank address of Federal Exchange, in which case the Dubai head office is the usual answer. Double-check every detail before you share them – a sender rarely spots a mistake in someone else’s details.

What lands in your account is often lower than the amount sent. Fees for incoming transfers vary from bank to bank. For business payments, it is common to agree how the fees are split, so that nobody is left short.