Hogg Capital Investments Limited SWIFT/BIC code

What HOCIMTM1 means for a payment to Hogg Capital Investments Limited

If an invoice shows HOCIMTM1 or HOCIMTM1XXX, it is the identical address for Hogg Capital Investments Limited in Malta. A SWIFT code tells the sending bank which institution is meant to get the money, a bit like a postal address for banks. It comes up mainly when dealing with payments that cross a border and payments in foreign currencies.

Below we go through the practical side: money coming in from abroad, sending money abroad and how to verify a SWIFT code before you confirm a payment. The BIC identifies a bank or branch, not a specific account, which is why you always need the account number too.

Paying someone abroad from your Hogg Capital Investments Limited account

An international bank payment can cost rather more than the listed fee. Besides a fixed fee, banks in between can take a cut, and if currencies are converted, the bank often uses a rate below the actual market rate.

The real cost is often in the rate: many banks convert at a rate with a margin built in. Check their rate with the mid-market rate; the gap is what conversion costs you.

For many currency pairs, a transfer service turns out to be cheaper than a traditional bank transfer. GoldexPay compares these services next to each other, showing the amount the recipient gets before you commit. Using a transfer service does not mean closing your account at Hogg Capital Investments Limited: you simply pay the service from your account.

How up to date is this code?

The codes on this page come from public sources that we update regularly. It can happen that information here is out of date, for example after a merger. The number of codes on this page reflect our own data.

For a payment that matters, confirm the code with the recipient’s bank or the recipient. GoldexPay is independent of Hogg Capital Investments Limited, we only compare transfer services. Should you notice something that is out of date, we appreciate a short note.

What the XXX in HOCIMTM1XXX means

The layout of every SWIFT code never changes: four characters for the institution, a two-letter country code and two for the location. For Hogg Capital Investments Limited, that core is HOCIMTM1.

Many banks and apps work with both lengths. If yours asks for eleven characters, use HOCIMTM1XXX.

Type the code as one block, in capitals and without spaces, exactly as shown here. Pasting the code beats typing it by hand.

Receiving money from abroad at Hogg Capital Investments Limited

For a transfer from abroad into your account at Hogg Capital Investments Limited, the sender has to have more than the BIC. In practice that means: your name as registered with Hogg Capital Investments Limited, your IBAN or account number, the BIC HOCIMTM1XXX (or HOCIMTM1) and sometimes your address.

Certain banks want the name and address of Hogg Capital Investments Limited in Sliema; it does no harm to include it. Double-check the details before you send them.

An incoming payment does not always land for the full amount. Correspondent banks can take a fee, Hogg Capital Investments Limited may charge for incoming payments, and if the money is converted, an exchange rate margin applies. On invoices, you can state how the fees are split.

Is HOCIMTM1 still correct? How to check

The safest source for the BIC is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. If the code you have does not match HOCIMTM1 or HOCIMTM1XXX, stop and ask – contact the recipient or Hogg Capital Investments Limited.

Errors in the SWIFT code tend to be annoying rather than fatal: often the payment comes back, minus fees. Do not forget the IBAN: an error there can be more difficult to correct than a wrong code.

Many banking apps check the structure of IBANs and some suggest the matching BIC, but that does not prove the account belongs to the right person. Some banks now check the payee name with the account; take any warning seriously. For a first payment, many people send a small amount first before sending the rest.

Do you need HOCIMTM1 for a SEPA transfer?

Since Malta is part of SEPA, a euro payment to Hogg Capital Investments Limited from within the SEPA area normally only needs an IBAN. Many banks no longer ask for the BIC for these payments.

The BIC does matter when the currency is not euros. A few forms also ask for the BIC; if so, enter HOCIMTM1.

Instant euro transfers have become increasingly available within SEPA; check with Hogg Capital Investments Limited whether it applies to your account. Provided the payment stays in euros, the transfer is cheap.

Euro (EUR) and conversion costs

Most accounts at Hogg Capital Investments Limited are usually held in EUR, the local currency of Malta. If you send another currency has to be converted somewhere along the way – by your bank, by Hogg Capital Investments Limited or by a bank in between. There is rarely a separate line for that conversion.

Where the conversion happens has an effect on how much arrives, as rates and margins differ per bank. Transferring the amount already in EUR usually avoids an extra conversion – as long as your own rate is good.

Rates for EUR change during the day, and some providers let you lock in a rate. With bigger transfers, even small gap in the rate can be worth more than the fee.

How long does an international transfer to Hogg Capital Investments Limited take?

How quickly a payment reaches Hogg Capital Investments Limited depends on a few things: the currency, the number of banks in between, cut-off times and time zones. Transfers sent after the cut-off time or on weekends and holidays usually go out the next business day. Occasionally a bank asks about the purpose of a payment, which can hold things up.

Many banks use SWIFT gpi, which lets them follow a payment from bank to bank. Every payment carries a unique reference, the UETR, which your bank can use to see where the money is. Keep your transfer receipt until the money has arrived; it contains the details a bank needs to start a trace.

If the money does not arrive after a few business days, the person who paid should contact the bank that sent it. As a recipient, you can check your statements to see a slightly lower amount.

Hogg Capital Investments Limited: head office code versus branch codes

Having 2 codes in 1 locations, Hogg Capital Investments Limited is one of the banks that register separate codes for parts of the organisation and departments. The head office code is HOCIMTM1XXX.

Unless the recipient tells you otherwise, use HOCIMTM1XXX. Only use a branch code when your contact explicitly asks for it, for example on a letter or invoice.

When in doubt, check with the recipient for the exact BIC in their bank details. Branch codes are sometimes changed or retired when banks reorganise.

Changed bank details? Be careful

Be alert when someone suddenly wants you to pay into a different account. A correct SWIFT code says nothing about who owns the account – scammers simply use real codes.

Verify changed bank details through a different channel like a call to a number from an earlier contract, never via the email that asked for the change. Pressure and secrecy are red flags – a real supplier can wait a day. If money was sent to the wrong account, call your bank right away – speed improves the chance of getting it back.

Fraud can also target the receiver: someone claims to have sent too much and asks you to refund the difference. A payment confirmation from the sender is no proof – check your own account.