Cyprus Credit Bank LTD. SWIFT/BIC code

SWIFT/BIC code of Cyprus Credit Bank LTD.

CYCRGB21 and CYCRGB21XXX are two spellings of the same SWIFT/BIC code, and both point to Cyprus Credit Bank LTD. in London. The code has a single purpose: it ensures that an international payment reaches the right bank. It comes up mostly when dealing with transfers between countries and payments in foreign currencies.

Below we go through the practical questions: receiving money at Cyprus Credit Bank LTD., sending money abroad and how to verify a SWIFT code before you confirm a payment. Remember that the BIC just identifies the bank, not the person: the IBAN or account number takes care of that.

Verifying the SWIFT code of Cyprus Credit Bank LTD.

The safest source for the BIC is the recipient’s own bank details. If the code you have does not match CYCRGB21 or CYCRGB21XXX, do not guess – contact the recipient or Cyprus Credit Bank LTD..

Errors in the BIC are costly more than disastrous – usually the money comes back, minus fees and time lost. A mistake in the IBAN or account number is more serious.

Most online banking apps check the format of IBANs – that confirms the format, not the owner. More and more banks compare the payee name with the account before you confirm – do not ignore a mismatch warning. For a first payment, some people start with a small amount first.

Choosing between the 2 SWIFT codes of Cyprus Credit Bank LTD.

We have 2 SWIFT/BIC codes for Cyprus Credit Bank LTD., spread over 1 locations. Next to the head office code CYCRGB21XXX, you will find codes for individual branches and departments.

Unless the recipient tells you otherwise, go with CYCRGB21XXX. Branch codes are only needed when the recipient’s bank explicitly asks for it.

The safest route is to copy the code straight from the account holder’s invoice. Codes for branches are more prone to be retired than the head office code when a bank merges or closes offices.

Receiving money from abroad at Cyprus Credit Bank LTD.

For an international payment into your account at Cyprus Credit Bank LTD., the person paying you needs more than the BIC. Give them your name as the bank knows it, the IBAN or account number, SWIFT code CYCRGB21XXX and your address, which some banks require.

Certain sending banks also ask for the name and address of Cyprus Credit Bank LTD., so keep it at hand. A typo in your account number is more trouble than it looks.

What lands in your account can be less than the amount sent. Charges on incoming payments differ per bank; check the price list of Cyprus Credit Bank LTD.. Agree with the sender who covers the fees.

British Pound (GBP) and conversion costs

The currency in United Kingdom is the British Pound (GBP). When you pay money in a different currency it has to be converted somewhere along the way: by your bank, an intermediary or Cyprus Credit Bank LTD. itself. There is rarely a separate line for that conversion; it is built into the rate.

Who does the conversion has an effect on how much arrives, since every bank sets its own rate. In many cases you pay less if you send GBP straight away through a transfer service with a good rate rather than letting the receiving bank convert.

Exchange rates change all the time – some services let you fix a rate in advance. For regular payments, a slightly better rate add up over a year.

CYCRGB21 or CYCRGB21XXX – which one to use?

Each SWIFT/BIC code starts with the same eight core characters: four letters for the bank, two letters for the country and two characters for the location. In this case, the 8-character core is CYCRGB21.

XXX at the end of CYCRGB21XXX does not stand for a missing value or a mistake: it stands for the head office of Cyprus Credit Bank LTD.. Some forms insist on 11 characters, in which case you simply enter XXX behind CYCRGB21.

In practice the code is written in capitals, without spaces or dashes. A single letter may route a payment to another bank.

What a transfer from Cyprus Credit Bank LTD. abroad really costs

A bank transfer abroad costs more than the listed fee. There is the fee for the transfer itself, sometimes charges from correspondent banks in between and, above all, the margin on the exchange rate if the currency changes.

Most of the cost usually sits in the exchange rate, rather than in the fee: many banks convert at a rate with a margin built in. Check the rate you are offered with the mid-market rate – the rate you find on financial news sites.

For many currency pairs, a specialist provider is less expensive than a traditional bank transfer – mostly thanks to the rate. GoldexPay compares these services next to each other, showing what actually arrives for the same amount sent. Choosing a specialist does not require leaving Cyprus Credit Bank LTD..

About this information

The details on this page come from public sources. It can happen that information on this page is no longer current after a merger or reorganisation. Figures such as the number of codes come from our directory.

See the information on this page as a helpful check, and let the details from the recipient or Cyprus Credit Bank LTD. have the final say. GoldexPay is a comparison service for money transfers and not affiliated with Cyprus Credit Bank LTD.. If you notice something that is out of date, we appreciate a message.

Protect yourself against fake payment requests

Be wary if someone unexpectedly asks you to pay into a different account abroad. That CYCRGB21 is a real code does not mean that the account is legitimate; criminals use the codes of real banks too.

Always verify changed bank details by phone. Urgency or requests to keep it quiet tend to be red flags; a genuine business can wait for you to check. When a payment has already gone to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

People receiving money can be targeted as well: a classic trick is a buyer who pays too much followed by a request to refund the difference abroad. Do not act before the money has really arrived – ask Cyprus Credit Bank LTD. if something looks wrong.

Transfer times and tracking a payment to Cyprus Credit Bank LTD.

A SWIFT payment typically needs one to a few business days – it depends on currency, route and the banks in between. Transfers sent late in the day or just before a weekend or public holiday usually go out a business day later. Occasionally a bank wants to know about the purpose of a payment, which can hold things up.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Every gpi transfer carries a unique reference, the UETR, which your bank can use to see where the money is. Money transfer services usually provide a status online so you can see how far the money has got.

Only the sending bank is able to request a trace or a recall; the receiving side usually has nothing to trace yet. As a recipient, it helps to look at your statements for a partial amount because fees can reduce the amount.

SEPA payments and the Cyprus Credit Bank LTD. BIC

United Kingdom belongs to the SEPA area, where euro transfers follow common rules. For a regular euro transfer from another SEPA country, you normally only need the IBAN; many banks no longer ask for the BIC.

Outside the euro and from non-SEPA countries, CYCRGB21XXX is still required. A few banks and apps still show a field for the BIC out of habit; if so, fill in CYCRGB21.

Instant euro transfers have become widely supported across SEPA. Fees for SEPA payments are generally low as long as everything stays in euros.