Bank Of Maldives (BML) Correspondent Bank Details

I got a call from a friend saying that an inward swift payment to his guesthouse account was unsuccessful. The sender of this remittance received a message from bank stating that there was a problem with the receiving bank details and remittance did not go through. No further information was provided.



This was not the first time my friend’s guesthouse attempted to receive money via telegraphic transfer, otherwise known as swift or wire transfer. He had done this several times and received money to their account without any problem. He provided the same bank details to the sender of this payment and ended up in a problem in which he actually had no clue about the exact problem.

But, when he mentioned it to me, I was already familiar. I had the same problem few times before and still get this problem every once in a while.

To send money via wire transfer (also called TT or swift) you need receiver’s full bank details. On top of that you also need correspondent bank details (also called intermediary bank details). You may be able to send a payment without correspondent bank details as well, but it is basically a matter of luck and in most cases your payment will not go through. Therefore, to avoid unwanted problems it is highly advisable to use correspondent bank details.

These are several correspondent banks for BML, for every major currency there is a specific bank to be used for as correspondent bank (also called intermediary bank). Keep in mind that this information occasionally does change, though not frequently. If you happen to have problem with a swift payment this is the most likely problem if that involves an account of Maldives Of Maldives, at least in my personal experience this is the case.

To quickly get the updated correspondent bank details I called to BML Customer Service. My friendly was there with me listening to the call. I was shocked of what the BML agent told me. She said such a correspondent bank detail is not required, only the bank account details, address and swift code of bank are all that required for a wire transfer payment. I immediately asked her if she could refer to a higher authority and get back to me, she took a few seconds on the call and reconfirmed what she said before. I did not believe her. Not after having contacted bank in several of such cases before.

After a few days I tried to reach BML Customer Service again, as you might know it often take dozens of minutes waiting on the queue. After waiting for some time on the call queue, I quit it and sent a text message. There was no immediate response. I waited for the next day, still no response. I sent another message, no response from bank. After some struggle I was able to contact BML customer service and get the updated list of correspondent banks. Since BML do not have this information available on their website, I thought it would be helpful to others if I publish this information.

Currency of your Remittance	Correspondent / Intermediary Bank
AUD	National Australia Bank Limited, Melbourne (SWIFT:NATAAU33033) for account of Bank of Maldives Plc, Malé, Rep. of Maldives, Account No. 1803072354500
EUR	CommerzBank AG Frankfurt Am Main, Germany (SWIFT: COBADEFF) for account of Bank of Maldives Plc, Malé, Rep. of Maldives, Account No.400875150500EUR, Bank Code: BLZ 50040000
GBP	Royal Bank of Scotland Plc, United Kingdom (SWIFT: RBOSGB2L) for account of Bank of Maldives Plc, Malé, Rep. of Maldives, Account No. 16003410008059
JPY	Union De Banques Arabes Et Francaises –U.B.A.F., Tokyo, Japan (SWIFT: UBAFJPJX) for account of Bank of Maldives Plc, Malé, Rep. of Maldives, Account No. 10091766 001110
SGD	ABN AMRO Bank , Singapore (SWIFT: ABNASGSG) for account of Bank of Maldives Plc, Malé, Rep. of Maldives, Account No..10.01.31.530
USD	Deutsche Bank AG, New York (SWIFT: BKTRUS33) for account of Bank of Maldives Plc, Malé, Rep. of Maldives, Account No. 04464048
USD	Habib American Bank, New York (SWIFT: HANYUS33) for account of Bank of Maldives Plc, Malé, Rep. of Maldives Account No. 20729275

Updated: 27 November 2016. There are 2 banks for USD, that is not a typing mistake. You can use either one. Please note that this information is subject to change without notice.

Address of the bank:
Bank of Maldives Plc
Head Office, 11, Boduthakurufaanu Magu, Malé 20094, Republic of Maldives.
Tel: + 960 3322948, Fax: + 960 3332640,
SWIFT: MALBMVMV
CHIPS ID: 169539, Reg. No. C-22/1982

For customer service purpose you can contact 24 hour hotline +9603330200. You can also send text to +9607990200 or +9609990200. In my experience sometimes text messages never get replied, customer service hotline takes up to 30 minutes to reach an agent during busy hours, sometimes even more.



News: Maldives Floating Bank Gets International Award
Bank Of Maldives Introduces Human ATM Machines
Central Bank governor blames expat workers but the dollar rate will rise to MVR18.87