Newedge Group SWIFT/BIC code

NEGRFRP1 – the SWIFT/BIC code of Newedge Group

NEGRFRP1 and NEGRFRP1XXX are two spellings of the same bank identifier, and both lead to Newedge Group in Paris. A BIC does one job: it ensures that money from abroad ends up at the right bank. You will need it mainly when dealing with transfers between countries.

Below you will find the practical questions: receiving money at Newedge Group, sending money abroad and how to check the code before you confirm a payment. Remember that the SWIFT code only identifies the bank, not the account: the IBAN or account number takes care of that.

NEGRFRP1 or NEGRFRP1XXX – which one to use?

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. Together, those parts make up NEGRFRP1 – the version you usually see online.

The full version adds a three-character extension for a branch or department. If the last three are XXX, they simply mean the head office, which is why NEGRFRP1XXX and NEGRFRP1 lead to the same place.

Leave out spaces, dots when you enter NEGRFRP1 or NEGRFRP1XXX. Pasting the code beats retyping it, because one wrong letter changes the bank.

Paying someone abroad from your Newedge Group account

If you send money to another country through Newedge Group, the fee you see is rarely all of what you pay. Besides the transfer fee, correspondent or intermediary banks can deduct a fee, and if the money changes currency the bank usually uses a rate that is less favourable than the actual market rate.

That exchange rate margin is often the largest item because it is hidden in the rate. Check their rate with the mid-market rate.

Specialised transfer providers often use a rate near the mid-market rate with clearer fees. GoldexPay lists transfer providers next to each other, showing the amount the recipient gets for the same amount sent. You can still keep your account at Newedge Group, while a cheaper service handles the conversion.

Before you send: check the Newedge Group code

The most reliable place for the correct BIC remains a document from the bank itself. If the code you have differs from NEGRFRP1 or NEGRFRP1XXX, stop and ask – contact the recipient or Newedge Group.

An incorrect BIC may lead to delays, a payment being sent back or additional charges for investigation. An error in the IBAN or account number is more serious, because the money may be credited to someone else.

An automatic check in your banking app only tells you that the IBAN exists. More and more banks compare the payee name with the account. A small test payment is worth it for large sums.

What to give a sender who pays you at Newedge Group

For an international payment at Newedge Group, the person paying you has to have not just the BIC. In practice that means: your full name exactly as it appears on the account, your account number or IBAN, the BIC NEGRFRP1XXX (or NEGRFRP1) and, often, your postal address.

Certain sending banks also ask for the address of Newedge Group. Check every detail before you send them, because the sender’s bank usually copies them as is.

Do not be surprised if the incoming amount is below the amount on the sender’s receipt. Correspondent banks can take a fee, Newedge Group may charge for incoming payments, and when currencies differ, a markup on the rate applies. Make clear with the sender who covers the fees before the money is sent.

Changed bank details? Be careful

Scammers often use fake invoices containing new bank details sent from what looks like a familiar address. The fact that NEGRFRP1 exists does not mean that the account is legitimate; criminals use the codes of real banks too.

Do not rely on contact details in the same message that contains the change. Pressure or secrecy are warning signs; a genuine business can wait for you to check. If a payment has already gone to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

Recipients can be targeted as well: a classic trick is a buyer who pays too much followed by a request to send back the difference to another account. A payment confirmation from the sender is no proof – check your own account.

Newedge Group: head office code versus branch codes

With 2 codes in 1 locations, Newedge Group is one of the banks that register separate codes for branches. The head office code remains NEGRFRP1XXX.

Unless the recipient tells you otherwise, use NEGRFRP1XXX. Branch codes are only needed if the recipient’s bank explicitly mentions it, which is more common for business accounts and trade services.

The best way is to copy the code straight from the recipient’s statement. Codes are sometimes changed or retired when banks reorganise.

About this information

We gather SWIFT/BIC codes using publicly available data and update our list from time to time. Institutions reorganise, change names and change codes, and a directory never catches every change immediately. Figures such as the number of codes come from our directory and may differ from what Newedge Group publishes.

Use our data as a starting point, rather than as the final word. GoldexPay is not affiliated with Newedge Group; we are a comparison site for money transfers. Should you notice something that is out of date, we appreciate a message via the contact page.

When will the money arrive at Newedge Group?

An international transfer usually needs one to a few business days. Bank holidays in the sending or receiving country can add extra days to the journey. Occasionally a bank wants to know about the purpose of a payment, which can hold things up.

If a transfer seems late, contact the sending bank about the tracking status and the transaction reference; with that reference banks can see where the payment is. Save your transfer receipt; it contains the details a bank needs to start a trace.

The bank that sent the money is able to start an official trace or a recall; the receiving side usually has nothing to trace yet. As a recipient, it helps to check your account to see a slightly lower amount.

Euro (EUR) and conversion costs

France uses the Euro (EUR). Money sent in a different currency will be converted into EUR before it reaches the account – and the bank that does it picks the rate. Each conversion costs something, even when no fee is shown.

Where the conversion happens affects the final amount, since every bank sets its own rate. Check what EUR the recipient gets with different providers.

The rate for EUR fluctuates constantly, so the amount you see is usually only valid for a short time. If you pay regularly, small differences in the rate add up over a year.

Paying Newedge Group in euros within SEPA

Because France is part of the SEPA zone, a euro payment to Newedge Group from within the SEPA area usually requires just an IBAN. Many banks do not require the BIC for these payments or fill it in for you.

For anything other than euros and from non-SEPA countries, NEGRFRP1XXX is still required. If a payment form asks for the BIC anyway, entering NEGRFRP1 does no harm.

Instant payments in euros have become increasingly supported across SEPA – whether Newedge Group offers them for your account is worth checking. As long as the payment stays in euros, the transfer tends to be cheap; costs rise once a conversion is involved.