Bank of America Merrill Lynch International Limited SWIFT/BIC code

What BOFAGB2U means for a payment to Bank of America Merrill Lynch International Limited

The 8-character code BOFAGB2U and the full code BOFAGB2UXXX identify one and the same institution: Bank of America Merrill Lynch International Limited in London, United Kingdom. The code has a single purpose: it makes sure that a cross-border transfer reaches the right bank. It comes up mainly when dealing with payments that cross a border.

On this page you can read what the code means, when you need it and which other details you need for a transfer to or from Bank of America Merrill Lynch International Limited. A SWIFT code names an institution, not a specific account.

Euro transfers to Bank of America Merrill Lynch International Limited: is a BIC needed?

Since United Kingdom is in the SEPA zone, a euro transfer to Bank of America Merrill Lynch International Limited from within the SEPA area usually only needs the IBAN. Most banking apps no longer ask for the BIC for these payments.

A SWIFT code like BOFAGB2U still matter for payments in other currencies and when the money comes from outside SEPA. If your banking app has a field for the BIC anyway, adding BOFAGB2U is fine.

Instant payments in euros have become increasingly available within SEPA. Fees for SEPA transfers tend to be low.

The British Pound and what conversion costs you

The national currency in United Kingdom is the British Pound (GBP). Money sent in a different currency is exchanged into GBP before it reaches the account, and whoever converts it chooses the rate. Each conversion costs the amount, even when no fee is shown.

Who converts the payment makes a difference: every bank has its own margin. Transferring the amount directly in GBP often prevents a second conversion – as long as your own rate is good.

Rates for GBP move all the time, and some providers let you lock in a rate. For regular payments, a slightly better rate make a real difference over time.

Is BOFAGB2U still correct? How to check

Have the recipient send you the account details straight from their banking app. When the code you were given differs from BOFAGB2U or BOFAGB2UXXX, stop and ask – contact the recipient or Bank of America Merrill Lynch International Limited.

A wrong SWIFT code can cause a delay, a returned payment or extra fees for investigation. A mistake in the account number can be more serious; check it just as carefully.

Most online banking apps check the format of IBANs and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. Where available, a payee name check before sending gives an extra layer of safety. When you pay someone new, some people start with a small test amount and wait for confirmation.

About this information

We gather bank codes using public sources and update our list from time to time. Institutions reorganise, close branches and change codes – a directory can be a step behind. The number of codes on this page reflect what is in our directory and not on information from Bank of America Merrill Lynch International Limited itself.

For a payment that matters, confirm the BIC with Bank of America Merrill Lynch International Limited or the recipient. GoldexPay is independent of Bank of America Merrill Lynch International Limited; we are a comparison site for money transfers. If you notice a mistake, we appreciate a message.

Bank of America Merrill Lynch International Limited: head office code versus branch codes

With 6 codes, Bank of America Merrill Lynch International Limited is one of the banks that use individual codes for branches and departments. The main code remains BOFAGB2UXXX.

For the vast majority of payments to a private or business account, the head office code BOFAGB2UXXX is the right choice. A branch code only makes sense if the account holder specifically asks for it, which is more common for business accounts and trade services.

Not sure which code to use? Check with the recipient, or look at a recent statement from Bank of America Merrill Lynch International Limited. Branch codes are more likely to change than the head office code.

Watch out for payment fraud

A common scam works like this: an email arrives with a request claiming that a company now has new bank details. The fact that BOFAGB2U exists does not mean that the account is genuine – fraudsters use real bank codes as well.

Always confirm changed bank details through a phone call on a number you know, not one from the message. Pressure or requests to keep it quiet are warning signs. If a payment has already gone to the wrong account, call your bank right away – speed improves the chance of getting it back.

Recipients are targeted too: a classic trick is a buyer who pays too much and then sends a request to refund the difference to another account. Wait until the money is actually in your account – ask Bank of America Merrill Lynch International Limited if something looks wrong.

Tracking a transfer to or from Bank of America Merrill Lynch International Limited

An international transfer usually needs one to a few business days. Bank holidays in either country add a day or more. Extra checks on larger or unusual payments can also add some delay.

A growing number of banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer carries a unique reference, the UETR, which your bank can use to see where the money is. Keep your transfer receipt until the recipient confirms.

If the money does not arrive within the expected time, the person who paid needs to contact their own bank rather than Bank of America Merrill Lynch International Limited. As a recipient, it helps to check your statements for a slightly lower amount because fees can reduce the amount.

Incoming international payments to Bank of America Merrill Lynch International Limited

To receive a transfer from abroad at Bank of America Merrill Lynch International Limited, the sender has to have more than the SWIFT code. The basics are: the account holder’s name, account number or IBAN, BOFAGB2UXXX or BOFAGB2U and in many cases your home address.

It helps to add Bank of America Merrill Lynch International Limited and London as well. A typo in your account number can be more trouble than it looks; copy them from your banking app rather than typing.

What lands in your account is often lower than what was sent. Correspondent banks can take a fee and your own bank may charge for processing, and if the money is converted, a markup on the rate comes on top. For business payments, it is common to agree how the fees are split to avoid a shortfall.

What the XXX in BOFAGB2UXXX means

Every SWIFT/BIC code has the same eight core characters: four letters for the bank, two letters for the country and two characters for the location. That gives you BOFAGB2U.

Most banks and apps work with either length. If yours asks for eleven characters, enter BOFAGB2UXXX.

Leave out spaces when you enter BOFAGB2U; the code is always written in one block. Pasting the code is safer than retyping it: a typo can point to another bank.

Paying someone abroad from your Bank of America Merrill Lynch International Limited account

The price of an international transfer is made up of several parts. On top of the transfer fee, correspondent or intermediary banks may deduct a fee, and if currencies are converted the bank usually applies a rate below the real market rate.

That exchange rate margin tends to be the biggest cost because it is hidden in the rate. Check their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites.

For a lot of currency pairs, a transfer service is cheaper than a traditional bank transfer. GoldexPay compares the amount that arrives with different services, so you can pick the cheapest route. Choosing a specialist does not mean closing your account at Bank of America Merrill Lynch International Limited.