Currencies Direct LTD SWIFT/BIC code

Currencies Direct LTD SWIFT code: CDPNGB2L

The 8-character code CDPNGB2L and the 11-character code CDPNGB2LXXX refer to one and the same institution: Currencies Direct LTD. A SWIFT code tells every bank in the chain exactly which bank should receive the money. In practice you usually see the code on invoices from abroad, in payment forms and in the bank details that Currencies Direct LTD provides.

This page is meant to help anyone who receives money at an account at Currencies Direct LTD and wants to get the details right. Remember that the SWIFT code just identifies the bank, not the person: the account number or IBAN takes care of that.

Watch out for payment fraud

A common scam goes like this: you receive a request claiming that a contact has new bank details and asking you to pay there from now on. A valid SWIFT code tells you nothing about who owns the account.

Never rely on contact details from the same email that announces the new account. Be suspicious of time pressure, odd spelling or an email address that differs by one letter. When a payment has already gone to a fraudster, contact your bank immediately.

Recipients are targeted too: one known trick is a buyer who pays too much and then sends a request to send back the difference abroad. A screenshot of a transfer is no proof.

When will the money arrive at Currencies Direct LTD?

How quickly a transfer arrives at Currencies Direct LTD is determined by several factors: the currency, the number of banks in between, daily processing deadlines and differences in time zone. Bank holidays in the sending or receiving country add a day or more. Occasionally a bank wants to know about the purpose of a payment.

If a transfer seems delayed, ask the sending bank for the tracking status or the UETR. Keep your transfer receipt; it contains the details a bank needs to start a trace.

A delayed transfer is traced by the sending bank on the basis of the transfer details. On the receiving end, you can look at your statements for a partial amount, since fees may have been deducted.

Sending money abroad from Currencies Direct LTD

What you pay for an international transfer is made up of more than one component. Besides the transfer fee, banks in between may take a cut, and if currencies are converted, the bank usually uses a rate that is less favourable than the actual market rate.

Banks do not list their exchange rate markup separately. A simple test: put the rate you get against the mid-market rate and work out the difference on your amount.

For many routes, a specialist provider turns out to be less expensive than a traditional bank transfer – mostly thanks to the rate. On GoldexPay we compare the amount that arrives across services, so you can pick the cheapest route. You can always keep your account at Currencies Direct LTD to fund the transfer.

Why Currencies Direct LTD has an 8- and an 11-character code

A BIC is made up of fixed blocks: characters one to four stand for the bank, characters five and six give the country and characters seven and eight mark the location. Together, those parts make up CDPNGB2L.

The 11-character version adds a three-character extension that identify a branch or department. When those three characters are XXX, they simply mean the head office.

Type the code as one block, in capitals and without spaces. Look out for O versus 0 or the letter I and the digit 1, a common source of typos.

Verifying the SWIFT code of Currencies Direct LTD

The best place to find the right code remains a document from the bank itself, such as a statement or the account details in online banking. Compare that code against CDPNGB2L on this page.

A wrong SWIFT code may lead to delays, a payment being sent back or additional charges along the way. An error in the IBAN or account number can be more serious.

Many banking apps check the structure of IBANs and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. More and more banks check the name against the account; take any warning seriously. For a first payment, some people start with a small test amount and wait for confirmation.

A note on our data

The codes here are taken from public sources. Banks reorganise, close branches and retire codes, and a directory never catches every change immediately. The figures we show are based on what is in our directory and not on information from Currencies Direct LTD itself.

See our directory on this page as a helpful check. GoldexPay is not affiliated with Currencies Direct LTD; we are a comparison site for money transfers. Should you notice something that is out of date, we welcome a short note via the contact page.

Head office or branch code at Currencies Direct LTD?

With 2 codes in 2 locations, Currencies Direct LTD is one of the banks that use individual codes for parts of the organisation and departments. The head office code remains CDPNGB2LXXX.

For most payments to a private or business account, the head office code CDPNGB2LXXX is what you need. Just use a branch code when the account holder explicitly asks for it.

Not sure which code to use? Ask the recipient or the bank itself. Branch codes can change when banks reorganise, so a code from an old document is not always valid.

Receiving money from abroad at Currencies Direct LTD

To receive a transfer from abroad into your account at Currencies Direct LTD, the person paying you has to have not just the BIC. Share the account holder’s name, your account number or IBAN, the BIC CDPNGB2LXXX and your address, which some banks require.

It helps to add the bank name and London as well. A mistake in your account number is more trouble than you might think; copy them from your banking app rather than typing.

Expect that the amount credited is smaller than what the sender paid. Intermediary banks may deduct a fee, and if the money is converted, a markup on the rate applies. Make clear with the sender who covers the fees.

The British Pound and what conversion costs you

Most accounts at Currencies Direct LTD are usually held in GBP, the local currency. A payment in a foreign currency is converted into GBP on its way to Currencies Direct LTD. You rarely see a separate charge for the conversion.

Who does the conversion affects the final amount. Often you pay less if you send GBP directly via a transfer service with a good rate.

The rate for GBP changes throughout the day. For regular payments, a slightly better rate make a real difference over time.

Paying Currencies Direct LTD in euros within SEPA

Within the SEPA zone, euro transfers to Currencies Direct LTD use common rules and in most cases need only the IBAN. The BIC field is usually optional or missing in that case.

A SWIFT code like CDPNGB2L still come into play when the currency is not euros. A few forms still ask for the BIC out of habit; if so, fill in CDPNGB2L or CDPNGB2LXXX.

Euro payments within SEPA normally land by the next business day; instant payments are faster if both banks offer them. As long as no currency is converted, a SEPA transfer tends to be cheap; costs rise once a conversion is involved.