Correspondent Banking
Important Update Regarding Correspondent Banking Services
Dear Valued Customer:
We are writing to inform you about important changes to our British Pound (GBP) and Euro (EUR) transaction services. At NBD, we are always striving to improve efficiency, and as part of this commitment, we have switched our correspondent banking services to Bank of America. This change will lead to faster processing and overall enhancement in service quality.
For all future GBP and EUR wire transfers to your NBD account, please use the following banking details:
Intermediary Bank Information:
Bank name: Bank of America
SWIFT code: BOFAGB22
Branch Address: 2 King Edward Street, London EC1A 1HQ
National Bank of Dominica Ltd.’s Information:
Bank name: National Bank of Dominica Ltd.
SWIFT code: NCDMDMDM
Branch Address: 64 Hillsborough Street, Roseau, Dominica
It is important to note that NBD’s fees remain unchanged; however, fees from the senders’ bank and Bank of America will apply.
If you have any questions concerning this transition, please visit our website at https://nbdominica.com/correspondent-bank for further details. Additionally, our customer support team is readily available to assist you at (767) 255-2300 or via email at [email protected] .
We take this opportunity to express our sincere gratitude for choosing NBD as your banking partner. Your trust and continued business are highly valued. We are confident that this change will contribute to an even better banking experience for you.
Thank you for your understanding and cooperation as we work together to ensure a smooth transition to our correspondent banking partner, Bank of America.
Sincerely,
Suzanne Joseph-Piper
Executive Manager, Corporate Communications, Marketing and Business Intelligence
FAQs
We are making this transition to improve our banking services and efficiency.
You should start using the new correspondent banking information immediately. Please be aware that as of January 31, 2024, all transactions will go through Bank of America exclusively.
NBD’s fees will remain unchanged. However, please note that Bank of America will apply a processing fee for GBP and EUR wires through them. This processing fee will be deducted from the transfer funds. This means the recipient will receive an amount that is less than the original sum.
For all future GBP and EUR wire transfers to your NBD account, please use the following banking details:
Intermediary Bank Information:
Bank name: Bank of America
SWIFT code: BOFAGB22
Branch Address: 2 King Edward Street, London EC1A 1HQ
National Bank of Dominica Ltd.’s Information:
Bank name: National Bank of Dominica Ltd.
SWIFT code: NCDMDMDM
Branch Address: 64 Hillsborough Street, Roseau, Dominica
If someone intends to send you GBP and EUR funds, please provide them with both Bank of America’s and NBD’s details as listed above. It is also important to inform the sender that the incoming wire will incur a Bank of America processing fee, which will be deducted from the incoming funds.
If you have questions or need assistance, please contact our customer support team at (767) 255-2300 or via email at [email protected].
While we aim to maintain efficiency, there may be slight adjustments in processing times during the transition. We will do our best to minimize any delays.
We have taken measures to minimize disruptions. However, please be prepared for temporary adjustments to ensure swift fund processing.
No, your account details remain the same. The transition only affects correspondent banking processes, not your account details.
No, your online banking access remains unchanged. You can continue to access your accounts and send wire transactions as usual.
This transition only affects GBP and EUR transactions. There are no changes in the processing of other currencies at this time.
NBD will collaborate with our correspondent banking partners to ensure that pending transactions are completed smoothly and to minimize any potential delays.
Ensure you are well-informed about the transition details, provide accurate information to anyone sending you GBP or EUR funds, and feel free to reach out to our customer support team for assistance.
Contact us for more information
Bank of America Schedule of Fees
| Outgoing Payments (Debit) | Outgoing Payments (Debit) | EUR € |
| Up to 500 | Up to 500 | 0 |
| 500 and above | 500 and above | 25 |
| Incoming Payments (Credit) | Incoming Payments (Credit) | EUR € |
| 500 and above | 500 and above | 15 |
The following are NBD’s foreign correspondent banks for international wire transfers and drafts:
| COUNTRY | BANK | SWIFT CODE |
| United Kingdom | Bank of America | BOFAGB22 |
| USA | Bank of America | BOFAUS3N |
| Canada | Bank of America NA | BOFACATT |
| Antigua | Antigua Commercial Bank | ANCBAGAG |
| Barbados | Republic Bank Barbados | BNBABBBB |
| Grenada | Republic Bank of Grenada | NCBGGDGD |
| Jamaica | Sagicor Bank Jamaica | RBTTJMKN |
| St.Kitts | St. Kitts-Nevis-Anguilla National Bank | KNANKNSK |
| St.Lucia | Bank of St.Lucia Ltd | BOSLLCLC |
| St.Vincent | Bank of St.Vincent | NCBVVC22 |
| Trinidad and Tobago | Republic Bank of Trinidad and Tobago | RBNKTTPX |
Outgoing Transfers
Transfers from Dominica are routed through one of the corresponding banks listed, to your requested beneficiary bank. You will need the following information to complete your transfer:
- The Routing, ABA, Swift, Sort Code or Transit number of the beneficiary bank.
- The name and address of the beneficiary bank
- The account number, name and address of the person you are transferring the funds to.
- Remittance information (reason for transfer) with supporting documentation where applicable
Incoming Transfers
Funds can be sent from your bank via one of the correspondent banks, listed above, to National Bank of Dominica Ltd.,
You will need to provide your bank with the following information:
- NBD Swift code: NCDMDMDM
- Your Name and NBD Account Number
- Remittance Information
Allow 2 to 3 business days for processing of incoming wires.
