Redhedge Sicav PLC SWIFT/BIC code

What RECVMTM1 means for a payment to Redhedge Sicav PLC

The 8-character code RECVMTM1 and the full code RECVMTM1XXX refer to one and the same institution: Redhedge Sicav PLC in Mriehel, Malta. A BIC does one job: it makes sure that an international payment ends up at the right bank. You will need it mostly when dealing with payments that cross a border or a currency.

We wrote this page to help people who pays into an account at Redhedge Sicav PLC without mistakes. The SWIFT code on its own cannot identify an individual account holder; that is what the IBAN or account number .

Sending EUR to Redhedge Sicav PLC

The currency of Malta is the Euro (EUR). Money sent in a different currency will be converted into EUR on its way to Redhedge Sicav PLC, and whoever converts it chooses the rate. You rarely see a separate charge for the conversion; it is built into the rate.

Where the conversion happens has an effect on the final amount, as rates and margins differ per bank. Compare how much EUR the recipient gets with different services before choosing one.

The rate for EUR fluctuates constantly, so the amount you see is usually only valid for a short time. With bigger transfers, a seemingly small gap in the rate adds up quickly.

How long does an international transfer to Redhedge Sicav PLC take?

There is no fixed delivery time: some land the same day or the next. Weekends and public holidays in either country can add extra days to the journey. Extra checks by one of the banks may also add some delay.

If a transfer seems delayed, contact your bank about the status; with that reference banks can see where the payment is. Specialist transfer services often show tracking in their app so you can see where the payment has got.

A missing payment is investigated by the sending bank. Ask the sender for a copy of the payment confirmation with the date and reference.

Head office or branch code at Redhedge Sicav PLC?

Redhedge Sicav PLC has 2 separate SWIFT/BIC codes across 1 locations. One of them is the head office code; the others identify branches or departments, and sometimes internal departments.

In most cases there is no need to pick a branch: payments sent to RECVMTM1XXX are routed within Redhedge Sicav PLC correctly. Branch codes are only needed if the recipient’s bank specifically mentions it, which is more common for business accounts and trade services.

When in doubt, ask the person you are paying for the exact BIC in their bank details. Branch codes are more prone to change than RECVMTM1XXX when a bank merges or closes offices.

Changed bank details? Be careful

Scammers often use payment requests with new bank details, sometimes in an email that looks completely genuine. A correct SWIFT code says nothing about who owns the account: scammers use real codes of real banks.

Do not trust contact details in the same message that announces the new account. Be suspicious of time pressure, unusual wording or an email address that differs by one letter. When a payment has already gone to the wrong account, contact your bank immediately – speed improves the chance of getting it back.

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 abroad. Do not act before the money has really arrived – ask Redhedge Sicav PLC if something looks wrong.

8 or 11 characters: RECVMTM1 versus RECVMTM1XXX

The layout of a BIC is always the same: a bank code of four letters, a two-letter country code and two for the location, plus an optional branch code. In this case, that core is RECVMTM1.

Most payment forms accept either length. If yours requires eleven characters, enter RECVMTM1XXX.

Do not add spaces, dots when you type RECVMTM1 or RECVMTM1XXX. A wrong letter can send the money to another bank, so copy it carefully.

How to check RECVMTM1 before you pay

The most reliable place for the right code remains a document from the bank itself, such as a statement or the account details in online banking. Compare it with RECVMTM1 on this page and ask if anything does not match.

An incorrect BIC may lead to delays, a returned payment or extra fees along the way. A mistake in the account number can be a bigger problem.

A validity check by your bank only tells you that the code exists – not that it belongs to the person you mean to pay. If your bank offers it, a payee name check before sending adds an extra layer of safety. For a first payment, many people start with a small amount first.

SEPA payments and the Redhedge Sicav PLC BIC

Since Malta is in the SEPA zone, a euro transfer to Redhedge Sicav PLC from another SEPA country normally requires just an IBAN. Most banking apps no longer ask for the BIC for these payments or fill it in for you.

For anything other than euros and from non-SEPA countries, RECVMTM1XXX is still required. If your banking app has a field for the BIC regardless, entering RECVMTM1 is fine.

Instant payments in euros have become widely supported across SEPA – whether Redhedge Sicav PLC offers them for your account is worth checking. Charges on SEPA payments tend to be low.

Sending money abroad from Redhedge Sicav PLC

The price of an international transfer has several parts – not just the fee on your screen. Besides the transfer fee, banks in between may take a cut, and when the money changes currency the bank usually applies a rate that is less favourable than the real market rate.

The real cost is often in the rate, rather than in the fee: the bank converts at a rate that includes a margin. Check the rate you are offered with the mid-market rate. The difference is your real conversion cost.

For many currency pairs, a transfer service turns out to be less expensive than a traditional bank transfer, mainly because of the exchange rate. GoldexPay compares transfer providers next to each other, showing what actually arrives before you commit. Using a transfer service does not mean leaving Redhedge Sicav PLC: you simply pay the service from your account.

How up to date is this code?

We gather bank codes using public sources and check our list regularly. Banks reorganise, close branches and change codes. Figures such as the number of codes come from our directory and are not confirmed by Redhedge Sicav PLC.

Treat our directory here as a helpful check. We are a comparison service and not affiliated with Redhedge Sicav PLC. Found outdated information? Tell us via our contact form so we can correct it.

Incoming international payments to Redhedge Sicav PLC

A sender in another country needs a few details from you – incomplete details often cause delays. What they need is: your name, account number or IBAN, RECVMTM1XXX and in many cases your postal address.

You can include the bank name and Mriehel too, because some payment forms have separate fields for them. Double-check every detail before you share them, because the sender’s bank usually copies them as is.

Do not be surprised if the incoming amount is smaller than the amount on the sender’s receipt. Intermediary banks may deduct a fee, and if the money is converted, an exchange rate margin applies. On invoices, you can agree who bears the costs.