Bank of Scotland SWIFT/BIC code

BOFSIM21 – the SWIFT/BIC code of Bank of Scotland

BOFSIM21 and BOFSIM21XXX are two ways of writing the same bank identifier, and both point to Bank of Scotland in Douglas. A SWIFT code tells the sending bank which institution is meant to get the money. You will need it mainly for payments that cross a border or a currency.

This page is meant to help people who receives money at an account at Bank of Scotland. The SWIFT code on its own does not identify a personal account; that is what the IBAN or account number is for.

International transfers from Bank of Scotland: the real cost

The price of an international transfer is made up of several parts. On top of a fixed fee, banks in between may take a cut, and when the money changes currency the bank usually uses a rate below the actual market rate.

Most of the cost usually sits in the exchange rate, not in the fee: many banks convert at a rate that includes a margin. A simple test: put the bank’s rate next to the mid-market rate and work out the difference on your amount.

For a lot of currency pairs, a transfer service turns out to be less expensive than a bank – mostly thanks to the rate. GoldexPay lists transfer providers side by side so you can see what actually arrives for the same amount sent. You can still use your account at Bank of Scotland as the source of the money; only the conversion and sending happen elsewhere.

Paying into Bank of Scotland in GBP

Most accounts at Bank of Scotland are usually held in GBP, the national currency. When you pay money in a different currency, the amount has to be converted at some point. Each conversion eats into the amount – usually through the rate rather than a fee.

Where the conversion happens has an effect on how much arrives. Often it is cheaper if you send GBP straight away via a transfer service that converts near the mid-market rate.

The rate for GBP changes throughout the day and quotes are often valid only for a short time. If you pay regularly, a slightly better rate make a real difference over time.

Scams that use SWIFT codes

Be alert if a contact unexpectedly asks you to send money to a different account abroad. A valid SWIFT code tells you nothing about whether the request is genuine.

Never trust contact details from the same email that contains the change. Watch out for urgent requests, unusual wording or a sender address that is slightly off. Already paid? Contact your bank without delay and ask them to start a recall and report the fraud.

Recipients can be targeted as well: one known trick is a buyer who pays too much and then sends a request to send back the difference abroad. Do not act before the money has really arrived – ask Bank of Scotland if something looks wrong.

Choosing between the 6 SWIFT codes of Bank of Scotland

Bank of Scotland has 6 separate SWIFT/BIC codes across 1 cities. Only one is the head office code; the rest belong to branches, and sometimes internal departments.

If nobody asks you for a branch code, use BOFSIM21XXX. When you receive a branch code, stick to it rather than replacing it with the head office code.

The safest route is to take the code directly from the recipient’s statement. Branch codes are more prone to be retired than the head office code.

When will the money arrive at Bank of Scotland?

A SWIFT payment usually takes one to a few business days – it depends on currency, route and the banks in between. Transfers sent after the cut-off time or just before weekends and holidays usually start the next business day. Sometimes a bank wants to know what the payment is for.

Many banks use SWIFT gpi. Every payment gets a unique reference, the UETR, which your bank can use to see where the money is. Keep the payment confirmation.

Only the sending bank can start an official trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. Request from the sender the payment receipt; that often settles the question quickly.

About this information

Our SWIFT/BIC directory draws on publicly available sources and we update it periodically. Even so, banks merge or retire codes, so information can be out of date. Figures such as the number of codes come from our own dataset and are not confirmed by Bank of Scotland.

Treat our data as a reference, rather than as the final word – the bank details from the recipient are leading. GoldexPay is an independent comparison site for money transfers and not affiliated with Bank of Scotland. Should you notice something that is out of date, we appreciate a message via the contact page.

Before you send: check the Bank of Scotland code

Ask the recipient to send you the bank details straight from their banking app. Compare that code against BOFSIM21 here.

Errors in the BIC are costly more than disastrous. Remember the IBAN: an error there can be more difficult to correct than a wrong code.

Many banking apps check the format of IBANs and some suggest the matching BIC, but that does not prove the account belongs to the right person. If your bank offers it, a name check on the recipient gives extra certainty. When you pay someone new, some people send a small amount first before sending the rest.

BOFSIM21 or BOFSIM21XXX – which one to use?

A BIC is built from fixed blocks: characters one to four identify the bank, the next two give the country and the two after that indicate the location. In this case, the 8-character core is BOFSIM21.

XXX at the end of BOFSIM21XXX does not stand for a missing value or a mistake: it indicates the main office of Bank of Scotland. Some forms insist on 11 characters, in which case you simply enter XXX after BOFSIM21.

In practice the code is typed in capitals. A single character may route the money to a different institution.

Receiving money from abroad at Bank of Scotland

Someone abroad who wants to pay you will ask for a few details from you – incomplete details often cause delays. That means: your full name as registered with Bank of Scotland, your account number or IBAN, the BIC BOFSIM21XXX and, often, your address.

You can add the bank name and Douglas too, because some payment forms have separate fields for them. Check each detail before you share them – a sender rarely spots a mistake in someone else’s details.

Expect that the incoming amount is below what the sender paid. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin comes on top. Make clear with the sender who covers the fees.