Ig Markets SWIFT/BIC code

IGMLGB21 – the SWIFT/BIC code of Ig Markets

IGMLGB21 and IGMLGB21XXX are two spellings of the same bank identifier, and both lead to Ig Markets in London. A BIC does one job: it ensures that a cross-border transfer ends up at the right bank. It comes up mainly for transfers between countries.

Further down you will find the practical side: money coming in from abroad, paying someone in another country and how to check a SWIFT code before you hit send. The SWIFT code alone does not identify an individual account holder; for that you need the IBAN or account number is for.

Is IGMLGB21 still correct? How to check

Have the recipient copy the bank details directly from their banking app. When the code you were given does not match IGMLGB21 or IGMLGB21XXX, do not guess.

If the code is wrong, the transfer might be delayed, be returned or end up costing more, and tracing it can take weeks. Remember the account number: an error there is more difficult to undo than a wrong code.

An automatic check in your banking app merely confirms that the IBAN is valid. More and more banks compare the payee name with the account; take any warning seriously. For a first payment, many people send a small test amount and wait for confirmation.

Choosing between the 2 SWIFT codes of Ig Markets

Having 2 codes in 1 cities, Ig Markets is one of the banks that register separate codes for parts of the organisation and departments. The main code remains IGMLGB21XXX.

Usually there is no need to pick a branch: payments addressed to IGMLGB21XXX are routed within Ig Markets without problems. A branch code only makes sense if the recipient’s bank explicitly mentions it, which is more common for business accounts and trade services.

Not sure which code applies? Check with the recipient. Branch codes are more likely to change than the head office code.

Sending GBP to Ig Markets

Most accounts at Ig Markets are usually held in GBP, the local currency of United Kingdom. If you send another currency it gets converted at some point: by your bank, an intermediary or Ig Markets itself. There is rarely a separate line for the conversion.

Who converts the payment matters. Check what GBP arrives via several providers before choosing one.

The GBP rate changes constantly. If you pay regularly, a slightly better rate make a real difference over a year.

Changed bank details? Be careful

Be wary when someone unexpectedly wants you to pay into a different account or a bank in another country. That IGMLGB21 is a real code does not mean that the account is legitimate – fraudsters use real bank codes as well.

Verify new payment details via a separate channel. Watch out for time pressure, unusual wording or an email address that differs by one letter. Already paid? Call your bank without delay and ask them to start a recall.

People receiving money can be targeted as well: a classic trick is an overpayment followed by a request to send back the difference. Do not act before the money has really arrived – ask Ig Markets if something looks wrong.

Euro transfers to Ig Markets: is a BIC needed?

Since United Kingdom is part of SEPA, a euro payment into Ig Markets from within the SEPA area usually requires just the IBAN. Most banking apps do not require the BIC for these payments or fill it in for you.

Outside the euro and from non-SEPA countries, IGMLGB21XXX remains required. If a payment form has a field for the BIC anyway, adding IGMLGB21 is fine.

SEPA transfers normally land within one business day, and instant transfers in seconds where both banks support them. As long as no currency is converted, the transfer tends to be inexpensive; it is the conversion that costs money.

Incoming international payments to Ig Markets

For an international payment into your account at Ig Markets, the person paying you needs more than the SWIFT code. Give them the account holder’s name, the IBAN or account number, the BIC IGMLGB21XXX and your address.

It helps to add Ig Markets and London too, since some forms ask for it. Double-check the details before you send them – a sender rarely spots a mistake in someone else’s details.

What lands in your account is often lower than the amount sent. Charges on incoming payments differ from bank to bank. Agree with the sender who covers the fees, especially for larger amounts.

When will the money arrive at Ig Markets?

There is no fixed answer for international payments: some land the same day or the next, others take several business days. Payments made late in the day or just before weekends and holidays often start the next business day. Extra checks on larger or unusual payments may also add a delay, even when all details are correct.

Many banks are connected to SWIFT gpi for faster and traceable payments. Every payment carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Keep your transfer receipt until the money has arrived – you will need it for any trace request.

The bank that sent the money can start an official trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. Request from the sender a copy of the payment confirmation with the date and reference – it helps your own bank look for the money.

Why Ig Markets has an 8- and an 11-character code

The structure of every SWIFT code is always the same: a bank code of four letters, a two-letter country code and a two-character location code, sometimes followed by a branch code. Combined, those parts make up IGMLGB21, the code most people search for.

The full version has three more characters that identify a branch or department. When those three characters are XXX, they simply mean the head office, so IGMLGB21XXX and IGMLGB21 are interchangeable.

Type the code as one block, in upper case and without spaces. Pasting the code beats typing it by hand, because one wrong letter changes the bank.

Sending money abroad from Ig Markets

A bank transfer abroad can cost more than the fee suggests. Besides the transfer fee, banks in between can take a cut, and if currencies are converted the bank usually applies a rate that is less favourable than the real market rate.

Many banks rarely show the margin on the rate separately, but you pay it all the same. Compare their rate against the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Specialist money transfer services frequently use a rate near the mid-market rate. GoldexPay compares the amount that arrives across services, so you can pick the cheapest route. Using a transfer service does not require closing your account at Ig Markets – you pay the provider from your own account.

About this information

The directory on GoldexPay is compiled from publicly available sources. It is possible that information on this page is out of date, for example after a merger. The figures we show are based on our own data, not official figures from Ig Markets.

See our directory on this page as a handy check and rely on the recipient or Ig Markets for the final confirmation. We are a comparison site and not part of Ig Markets. Should you notice something that is out of date, we appreciate a message via the contact page.