Db UK Bank Limited, London SWIFT/BIC code

What MGCOGB2L means for a payment to Db UK Bank Limited, London

The short code MGCOGB2L and the full code MGCOGB2LXXX refer to the same bank: Db UK Bank Limited, London in London, United Kingdom. Every bank on the SWIFT network uses these codes to direct payments between countries to the correct bank. You will need it mainly when dealing with payments that cross a border and payments in foreign currencies.

On this page we explain how the code means, when it matters and which other details you need for a transfer to or from Db UK Bank Limited, London. The SWIFT code on its own does not identify a personal account; for that you need the account number or IBAN is for.

Getting paid from abroad into a Db UK Bank Limited, London account

Someone abroad who wants to pay you needs a few details about your account, and missing ones are a common cause of delays. Share the account holder’s name, the IBAN or account number, SWIFT code MGCOGB2LXXX and your address, which some banks require.

Some banks want the name and address of Db UK Bank Limited, London; it does no harm to include it. Check every detail before you share them.

The amount you receive is often less than what was sent. Intermediary banks may deduct a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate applies. On invoices, you can state who bears the costs to avoid a shortfall.

How up to date is this code?

Our SWIFT/BIC directory draws on public sources and we update it periodically. It can happen that information on this page is no longer current. The figures we show are based on our own data, not official figures from Db UK Bank Limited, London.

See the information here as a handy check and rely on the recipient or Db UK Bank Limited, London for the final confirmation. We are an independent comparison site for money transfers and not part of Db UK Bank Limited, London. Spotted an error? Let us know via our contact form.

MGCOGB2L or MGCOGB2LXXX – which one to use?

A BIC is built from a few fixed parts: characters one to four stand for the bank, characters five and six show the country and the two after that indicate the location. The result is MGCOGB2L, the short form of the code.

XXX at the end of MGCOGB2LXXX does not stand for a missing value or an error: it indicates the main office of Db UK Bank Limited, London. Certain payment forms ask for 11 characters, and then you can enter XXX behind MGCOGB2L.

As a rule the code is typed in capitals. Pasting the code beats retyping it: a typo can point to another bank.

When will the money arrive at Db UK Bank Limited, London?

A SWIFT payment typically takes one to a few business days, depending on the currency, the route and the banks involved. Bank holidays in either country can add extra days. Compliance checks by one of the banks may also cause a delay, regardless of the details.

A growing number of banks use SWIFT gpi. Every gpi transfer gets a unique reference, the UETR that banks can use to trace it. Specialist transfer services usually show tracking in their app showing where the money is.

If a payment has not arrived within the expected time, the sender needs to contact their own bank. Request from the sender a copy of the payment confirmation with the date and reference.

Paying Db UK Bank Limited, London in euros within SEPA

Inside SEPA, euro payments to Db UK Bank Limited, London follow common rules and in most cases need only the IBAN. The BIC field is often optional in that case.

You will still need MGCOGB2LXXX for non-euro payments or money from outside the SEPA area. If your banking app has a field for the BIC regardless, adding MGCOGB2L does no harm.

Instant euro transfers have become widely supported across SEPA. Fees for SEPA transfers tend to be low, as long as no currency conversion is involved.

International transfers from Db UK Bank Limited, London: the real cost

The price of a payment abroad is made up of several parts, and the transfer fee is only the most visible one. Besides the transfer fee, banks in between can take a cut, and when the money changes currency the bank usually applies a rate below the real market rate.

The markup on the rate is often the biggest cost even though it is not listed as a fee. An easy check: set the rate you get against the mid-market rate for the same moment and look at the difference.

Money transfer services often offer rates closer to the mid-market rate with clearer fees. GoldexPay lists these services next to each other, showing the amount the recipient gets. Choosing a specialist does not mean leaving Db UK Bank Limited, London: you simply pay the service from your account.

Is MGCOGB2L still correct? How to check

Ask the recipient to send you the bank details straight from their online banking. Compare it against MGCOGB2L on this page; if they differ, ask before you pay.

A wrong SWIFT code can cause delays, a returned payment or extra fees. A mistake in the account number can be a bigger problem because it can reach the wrong person.

Most online banking apps validate the format of IBANs and sometimes look up the BIC automatically – that confirms the format, not the owner. If your bank offers it, a name check on the recipient gives extra certainty. A small test payment can be a sensible step for large sums, even if it costs an extra fee.

Sending GBP to Db UK Bank Limited, London

The currency of United Kingdom is the British Pound (GBP). When you pay another currency it has to be converted somewhere along the way – by your bank, by Db UK Bank Limited, London or by a bank in between. Every conversion costs something, even when no fee is shown.

Where the conversion happens has an effect on how much arrives. In many cases you pay less if you send GBP directly via a transfer service that converts near the mid-market rate rather than letting the receiving bank convert.

The GBP rate fluctuates constantly. On larger amounts, a seemingly small difference in the rate adds up quickly.

Watch out for payment fraud

Criminals regularly use fake invoices containing new bank details, sometimes in an email that looks completely genuine. A valid SWIFT code says nothing about whether the request is genuine.

Never rely on a phone number from the same email that announces the new account. Be suspicious of time pressure, odd spelling or a sender address that is slightly off. Acted too fast? Call your bank straight away and ask them to start a recall; also report it to the police.

Fraud also work the other way: someone claims to have sent more than agreed and asks you to return the extra via a different route. A screenshot of a transfer is no proof; only your own account shows what has arrived.

Which of the 7 codes of Db UK Bank Limited, London do you need?

Db UK Bank Limited, London uses 7 separate SWIFT/BIC codes. Only one is the head office code; the rest belong to branches.

For most payments to a private or business account, the head office code MGCOGB2LXXX is what you need. Just use a branch code when the account holder gives you that exact code, for example on an invoice or in their bank details.

The best way is to copy the code straight from the account holder’s invoice. Branch codes are more prone to change than the head office code.