Mashreqbank Psc. SWIFT/BIC code

BOMLAEAD – the SWIFT/BIC code of Mashreqbank Psc.

The 8-character code BOMLAEAD and the 11-character code BOMLAEADXXX refer to one and the same institution: Mashreqbank Psc. in Dubai, United Arab Emirates. Every bank on the SWIFT network uses these codes to route international transfers to the right bank. You will need it mostly for payments that cross a border and payments in foreign currencies.

This page is meant to help anyone who pays into an account at Mashreqbank Psc. without mistakes. The BIC identifies a bank or branch, not a single account.

United Arab Emirates Dirham (AED) and conversion costs

Accounts at Mashreqbank Psc. are typically held in AED, the local currency of United Arab Emirates. Money sent in a different currency is converted into AED on its way to Mashreqbank Psc. – and the bank that does it picks the rate. You rarely see a separate charge for the conversion; it is built into the rate.

Who converts the money makes a difference, because each party uses its own rate. Compare how much AED arrives via several providers.

The AED rate changes throughout the day and quotes are often valid only for a short time. On larger amounts, even seemingly small gap in the rate adds up quickly.

Changed bank details? Be careful

Stay wary if a contact unexpectedly asks you to pay into another account abroad. That BOMLAEAD is a real code does not mean that the account is legitimate; criminals use the codes of real banks too.

Verify new payment details through a separate channel like a call to a number from an earlier contract, never via the email that asked for the change. Urgency and requests to keep it quiet are warning signs – a real supplier can wait a day. Already paid? Contact the bank you paid from straight away and ask them to start a recall and report the fraud.

Recipients are targeted too: a classic trick is a buyer who pays too much and then sends a request to refund the difference. A screenshot of a transfer proves nothing – check your own account.

How long does an international transfer to Mashreqbank Psc. take?

How fast a transfer reaches Mashreqbank Psc. is determined by a few things: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Payments made after the cut-off time or just before a weekend or public holiday often go out the next business day. Extra checks by one of the banks may also cause some delay, even when all details are correct.

When a payment takes longer than expected, ask the sending bank about the tracking status and the transaction reference; with that reference banks can see where the payment is. Save the payment confirmation; it contains the details a bank needs to start a trace.

Only the sending bank is able to start an official trace or a recall; the receiving side usually has nothing to trace yet. On the receiving end, it helps to look at your statements to see a partial amount because fees can reduce the amount.

Getting paid from abroad into a Mashreqbank Psc. account

When you are waiting for money from abroad, give the sender everything they need in one go. Share the account holder’s name, your account number or IBAN, the BIC BOMLAEADXXX and your address.

The sender’s bank may also ask for the address of your bank; the head office in Dubai is usually fine. Check each detail before you share them, because the sender’s bank usually copies them as is.

Expect that the incoming amount is smaller than what the sender paid. Intermediary banks may deduct a fee and your own bank may charge for processing, and if the money is converted, a markup on the rate comes on top. Make clear with the sender who covers the fees before the money is sent.

What the XXX in BOMLAEADXXX means

The layout of a BIC is always the same: four characters for the institution, two for the country and a two-character location code, plus an optional branch code. For Mashreqbank Psc., that core is BOMLAEAD.

Most payment forms work with either length. If a form requires eleven characters, use BOMLAEADXXX, otherwise BOMLAEAD is fine.

Leave out spaces or dashes when you enter BOMLAEAD or BOMLAEADXXX. Watch for the letter O and the digit 0 or the letter I and the digit 1; they are easy to mix up.

A note on our data

The details here come from public sources which we refresh regularly. Institutions reorganise, close branches and retire codes. Figures such as the number of codes are from our own dataset and may differ from what Mashreqbank Psc. publishes.

Use this page as a reference, not as the last word: the recipient’s bank details come first. GoldexPay is not affiliated with Mashreqbank Psc.; we are a comparison site for money transfers. Spotted outdated information? Tell us via our contact form and we will look into it.

Which of the 8 codes of Mashreqbank Psc. do you need?

Mashreqbank Psc. has 8 separate SWIFT/BIC codes. Only one is the head office code, BOMLAEADXXX; the others identify branches or departments, and sometimes internal departments.

For most payments to a private or business account, the head office code BOMLAEADXXX works fine. When you receive a specific code, use it as it is instead of swapping it with the head office code.

The best way is to take the code directly from the account holder’s bank details. Codes for branches are more prone to be retired than BOMLAEADXXX.

Paying someone abroad from your Mashreqbank Psc. account

A bank transfer abroad costs rather more than the listed fee. You pay the transfer fee, possibly charges from correspondent banks along the way and, above all, the exchange rate markup when the money is converted.

The real cost is often in the rate, not in the fee: many banks convert using an exchange rate that includes a margin. An easy check: put the rate you get next to the mid-market rate and look at the difference.

Specialised transfer providers often use rates closer to the mid-market rate and lower fees. GoldexPay lists transfer providers next to each other so you can see what actually arrives before you commit. You can still use your account at Mashreqbank Psc. to fund the transfer; only the conversion and sending happen elsewhere.

Verifying the SWIFT code of Mashreqbank Psc.

The safest source for the BIC is the bank details provided by the recipient. If the code you have does not match BOMLAEAD or BOMLAEADXXX, do not guess.

Mistakes in the BIC tend to be annoying more than fatal: often the payment comes back, minus fees. Do not forget the account number: an error there can be more difficult to correct than a wrong BIC.

Many banking apps check the format of an IBAN – that confirms the format, not the owner. Where available, a payee name check before sending gives an extra layer of safety. When you pay someone new, many people send a small amount first before sending the rest.