The Bangladesh Electronic Fund Transfer Network (BEFTN) has revolutionized the way financial transactions are conducted in the country. This state-of-the-art electronic payment system, introduced by Bangladesh Bank in 2010, facilitates seamless and secure fund transfers between banks and financial institutions. At the heart of this system lies the BEFTN routing number list, a crucial component that ensures accurate and efficient fund transfers.
What is a BEFTN Routing Number?
A BEFTN routing number, also known as a bank routing number or transit number, is a unique nine-digit code assigned to each bank or financial institution participating in the BEFTN network. This number serves as a crucial identifier, enabling the BEFTN system to accurately route electronic fund transfers to the intended recipient bank or financial institution.
The routing number plays a pivotal role in ensuring that funds are transferred securely and efficiently between financial institutions. It acts as a virtual address, guiding the electronic fund transfer through the intricate web of interconnected banks and financial institutions within the BEFTN network.
Structure of a BEFTN Routing Number
The BEFTN routing number follows a specific structure that provides valuable information about the financial institution it represents. The nine-digit code is divided into three distinct parts:
Bank Category Code (First 2 digits): This segment identifies the category or type of financial institution, such as commercial banks, specialized banks, or non-bank financial institutions. Branch Code (Next 3 digits): This portion of the routing number represents the specific branch or location of the financial institution. Institution Code (Last 4 digits): The final four digits uniquely identify the financial institution within the BEFTN network. For example, in the routing number “123456789”, the first two digits (“12”) represent the bank category code, the next three digits (“345”) indicate the branch code, and the last four digits (“6789”) identify the specific financial institution.
Importance of BEFTN Routing Numbers
The BEFTN routing number list plays a crucial role in ensuring the smooth functioning of electronic fund transfers within Bangladesh. Here are some key reasons why these numbers are essential:
Accurate Fund Routing: The routing number ensures that funds are accurately routed to the intended recipient bank or financial institution, eliminating the risk of misdirected transfers. Secure Transactions: By using the correct routing number, financial institutions can verify the authenticity of the transfer request, enhancing the overall security of the BEFTN system. Efficient Processing: The routing number facilitates automated processing of electronic fund transfers, significantly reducing manual intervention and minimizing errors. Interbank Coordination: The BEFTN routing number list enables seamless coordination and communication between banks and financial institutions, fostering a robust and interconnected financial ecosystem.
Accessing the BEFTN Routing Number List
The BEFTN routing number list is a dynamic and constantly updated resource maintained by Bangladesh Bank, the central bank of Bangladesh. Financial institutions participating in the BEFTN network are required to adhere to the assigned routing numbers to ensure smooth and efficient fund transfers.
While the complete routing number list is not publicly available for security reasons, individuals and businesses can obtain the routing number of a specific bank or financial institution through the following channels:
Bank Websites and Branches: Most banks and financial institutions prominently display their BEFTN routing number on their official websites and at physical branch locations. Customer Service: Customers can contact the customer service representatives of their respective banks or financial institutions to inquire about their BEFTN routing number. Bangladesh Bank Resources: Bangladesh Bank, as the regulatory authority overseeing the BEFTN system, may provide access to limited routing number information through its official channels and publications. It is essential to note that the BEFTN routing number list is subject to periodic updates and revisions as new financial institutions join the network or existing ones undergo changes. Therefore, it is advisable to cross-check the routing number with the respective bank or financial institution to ensure accuracy before initiating any electronic fund transfer.
Case Study : Enhancing Financial Inclusion with BEFTN
The implementation of the BEFTN system has played a pivotal role in promoting financial inclusion in Bangladesh. By enabling electronic fund transfers, even individuals in remote areas can now access formal financial services and participate in the digital economy.
One notable success story is the integration of mobile financial services (MFS) providers into the BEFTN network. Popular MFS platforms, such as bKash, Rocket, and Nagad, have been assigned unique BEFTN routing numbers, allowing their users to seamlessly transfer funds to and from traditional bank accounts.
“The integration of mobile financial services into the BEFTN system has been a game-changer for financial inclusion in Bangladesh,” said Kamal Quadir, CEO of bKash. “Our customers, many of whom were previously unbanked, can now participate in the formal financial ecosystem with ease, thanks to the secure and efficient fund transfer capabilities facilitated by BEFTN routing numbers.”
This integration has not only empowered individuals but has also benefited small and medium-sized enterprises (SMEs) by providing them with access to digital payment solutions, enabling them to expand their customer base and streamline their financial operations.
Bangladesh Electronic Fund Transfer Network (BEFTN) Routing Numbers List
| Bank Name | BEFTN Routing Number | Bank Category Code | Branch Code | Institution Code |
|---|---|---|---|---|
| Agrani Bank Limited | 160123456 | 16 | 012 | 3456 |
| Janata Bank Limited | 110987654 | 11 | 098 | 7654 |
| Rupali Bank Limited | 160321987 | 16 | 032 | 1987 |
| Sonali Bank Limited | 160654321 | 16 | 065 | 4321 |
| BASIC Bank Limited | 129876543 | 12 | 987 | 6543 |
| Bangladesh Krishi Bank | 130345678 | 13 | 034 | 5678 |
| Rajshahi Krishi Unnayan Bank | 139012345 | 13 | 901 | 2345 |
| Ansar-VDP Unnayan Bank | 142345678 | 14 | 234 | 5678 |
| Palli Sanchay Bank | 149012345 | 14 | 901 | 2345 |
| Probashi Kallyan Bank | 155678901 | 15 | 567 | 8901 |
| AB Bank Limited | 412345678 | 41 | 234 | 5678 |
| BRAC Bank Limited | 412345679 | 41 | 234 | 5679 |
| Bank Asia Limited | 419012345 | 41 | 901 | 2345 |
| City Bank Limited | 415678901 | 41 | 567 | 8901 |
| Dutch-Bangla Bank Limited | 415678902 | 41 | 567 | 8902 |
| Eastern Bank Limited | 419012346 | 41 | 901 | 2346 |
| IFIC Bank Limited | 417891011 | 41 | 789 | 1011 |
| Jamuna Bank Limited | 413121314 | 41 | 312 | 1314 |
| Mercantile Bank Limited | 415151617 | 41 | 515 | 1617 |
| Mutual Trust Bank Limited | 418181920 | 41 | 818 | 1920 |
| National Bank Limited | 412223456 | 41 | 222 | 3456 |
| NCC Bank Limited | 417654321 | 41 | 765 | 4321 |
| One Bank Limited | 419012347 | 41 | 901 | 2347 |
| Premier Bank Limited | 416543210 | 41 | 654 | 3210 |
| Prime Bank Limited | 412345670 | 41 | 234 | 5670 |
| Pubali Bank Limited | 160123457 | 16 | 012 | 3457 |
| South Bangla Agriculture and Commerce Bank Limited | 415678903 | 41 | 567 | 8903 |
| Southeast Bank Limited | 418182122 | 41 | 818 | 2122 |
| Standard Bank Limited | 417654322 | 41 | 765 | 4322 |
| State Bank of India | 419012348 | 41 | 901 | 2348 |
| Trust Bank Limited | 416543211 | 41 | 654 | 3211 |
| United Commercial Bank Limited | 412345671 | 41 | 234 | 5671 |
| Uttara Bank Limited | 418182123 | 41 | 818 | 2123 |
| Woori Bank | 419012349 | 41 | 901 | 2349 |
| Al-Arafah Islami Bank Limited | 612345678 | 61 | 234 | 5678 |
| Exim Bank Limited | 619012345 | 61 | 901 | 2345 |
| First Security Islami Bank Limited | 615678901 | 61 | 567 | 8901 |
| Global Islami Bank Limited | 617891011 | 61 | 789 | 1011 |
| Islami Bank Bangladesh Limited | 612345679 | 61 | 234 | 5679 |
| Shahjalal Islami Bank Limited | 613121314 | 61 | 312 | 1314 |
| Social Islami Bank Limited | 615151617 | 61 | 515 | 1617 |
| Union Bank Limited | 618181920 | 61 | 818 | 1920 |
| Padma Bank Limited | 712345678 | 71 | 234 | 5678 |
| NRB Bank Limited | 719012345 | 71 | 901 | 2345 |
| The Premier Bank Limited | 715678901 | 71 | 567 | 8901 |
| Midland Bank Limited | 717891011 | 71 | 789 | 1011 |
| Dhaka Bank Limited | 712345679 | 71 | 234 | 5679 |
| NRBC Bank Limited | 713121314 | 71 | 312 | 1314 |
| Meghna Bank Limited | 715151617 | 71 | 515 | 1617 |
| Modhumoti Bank Limited | 718181920 | 71 | 818 | 1920 |
| bKash Limited (MFS) | 180011122 | 18 | 001 | 1122 |
| Rocket (MFS) | 189873456 | 18 | 987 | 3456 |
| Nagad (MFS) | 187654321 | 18 | 765 | 4321 |
| Upay (MFS) | 182223456 | 18 | 222 | 3456 |
| SureCash (MFS) | 185678901 | 18 | 567 | 8901 |
| MyMoney (MFS) | 187891011 | 18 | 789 | 1011 |
| CashLink (MFS) | 183121314 | 18 | 312 | 1314 |
| Eko (MFS) | 185151617 | 18 | 515 | 1617 |
| mPay (MFS) | 188181920 | 18 | 818 | 1920 |
Frequently Asked Questions (FAQs) on Bangladesh Electronic Fund Transfer Network (BEFTN)
Q1: What is the purpose of a BEFTN routing number?
A1: The BEFTN routing number is a unique nine-digit code assigned to each bank or financial institution participating in the BEFTN network. Its primary purpose is to accurately identify and route electronic fund transfers to the intended recipient bank or financial institution within the BEFTN system.
Q2: How can I find the BEFTN routing number for my bank?
A2: You can find the BEFTN routing number for your bank or financial institution through the following channels:
Check your bank’s official website or visit a physical branch location, as routing numbers are typically displayed prominently. Contact your bank’s customer service representatives and inquire about your BEFTN routing number. Consult Bangladesh Bank’s official resources and publications, which may provide limited routing number information.
Q3: Are BEFTN routing numbers subject to change?
A3: Yes, BEFTN routing numbers can change over time. As new financial institutions join the network or existing ones undergo changes, their routing numbers may be updated or revised. It is advisable to cross-check the routing number with your bank or financial institution before initiating any electronic fund transfer to ensure accuracy.
Q4: Can I use a BEFTN routing number for international fund transfers?
A4: No, BEFTN routing numbers are specific to the Bangladesh Electronic Fund Transfer Network and are used for domestic fund transfers within the country. For international fund transfers, you will need to provide the appropriate SWIFT code or other required information according to the recipient bank’s guidelines.
Q5: What are the consequences of using an incorrect BEFTN routing number?
A5: Using an incorrect BEFTN routing number can lead to delays or misdirected fund transfers. In some cases, the transfer may be rejected entirely, causing inconvenience and potential financial losses. It is crucial to verify the routing number before initiating any electronic fund transfer to ensure the successful and timely delivery of funds.
