Interactive Brokers (U.k.) LTD SWIFT/BIC code

IABRGB2L – the SWIFT/BIC code of Interactive Brokers (U.k.) LTD

Whether a recipient gives you IABRGB2L or IABRGB2LXXX, you are looking at the same identifier for Interactive Brokers (U.k.) LTD in United Kingdom. A SWIFT code tells every bank in the chain exactly which bank should receive the money, a bit like a postal address for banks. In daily life you usually come across it on international invoices, in payment forms and in the bank details of Interactive Brokers (U.k.) LTD customers.

On this page you will find how the code is put together, when it matters and which other details a transfer to or from Interactive Brokers (U.k.) LTD requires. The BIC names a bank or branch, never a single account.

Is IABRGB2L still correct? How to check

Have the recipient send you their account details straight from their banking app. Check it against IABRGB2L here.

An incorrect BIC may lead to delays, a payment being sent back or additional charges. A mistake in the account number can be more serious, so check that just as carefully.

Many banking apps check the format of IBANs and sometimes look up the BIC automatically – that confirms the format, not the owner. Some banks now compare the name with the account. Sending a small amount first can be worth it for a large first payment.

Head office or branch code at Interactive Brokers (U.k.) LTD?

Interactive Brokers (U.k.) LTD uses 5 different SWIFT/BIC codes across 1 cities. Only one is the head office code; the rest identify branches or departments.

Unless the recipient tells you otherwise, go with IABRGB2LXXX or its short form IABRGB2L. A branch code only makes sense if the recipient’s bank specifically asks for it.

Not sure which code applies? Ask the recipient, or look at a recent statement from Interactive Brokers (U.k.) LTD. Codes can change when banks reorganise.

Watch out for payment fraud

One of the most common tricks works like this: you receive a request saying that a company has a new bank account and asking you to pay there from now on. The fact that IABRGB2L exists is no guarantee that the account is genuine; criminals use the codes of real banks too.

Before paying, verify changed bank details through a phone call, using a number you already had. Urgency and requests to keep it quiet tend to be red flags – a real supplier can wait a day. Already paid? Call your bank without delay and ask them to start a recall; also report it to the police.

People receiving money can be targeted as well: one known trick is an overpayment followed by a request to refund the difference to another account. Wait until the money has really arrived and check with Interactive Brokers (U.k.) LTD if anything seems off.

Paying into Interactive Brokers (U.k.) LTD in GBP

The currency in United Kingdom is the British Pound (GBP). Money sent in a different currency is exchanged into GBP on its way to Interactive Brokers (U.k.) LTD. You rarely see a separate line for the conversion – the cost sits in the rate.

Who does the conversion has an effect on how much arrives, since every bank sets its own rate. Compare what GBP arrives with several providers; the difference between options can be larger than you expect.

Rates for GBP change all the time, and some providers let you lock in a rate. On larger amounts, a seemingly small gap in the rate adds up quickly.

What to give a sender who pays you at Interactive Brokers (U.k.) LTD

Someone abroad who wants to pay you will ask for several details from you, and missing ones are a common cause of delays. Give them your name as the bank knows it, the IBAN or account number, SWIFT code IABRGB2LXXX and your address, which some banks require.

It helps to add the bank name and London too. Check the details before you share them – a sender rarely spots a mistake in someone else’s details.

Do not be surprised if the amount credited is smaller than what the sender paid. Intermediary banks may deduct a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate comes on top. On invoices, it is common to agree how the fees are split, so that nobody is left short.

SEPA payments and the Interactive Brokers (U.k.) LTD BIC

Because United Kingdom is in the SEPA zone, a euro payment to Interactive Brokers (U.k.) LTD from within the SEPA area usually requires just the IBAN. Most banking apps no longer ask for the BIC for these payments.

The BIC does matter for payments in other currencies, and for transfers from outside SEPA. A few banks and apps still ask for the BIC out of habit; if so, enter IABRGB2L or IABRGB2LXXX.

Instant euro transfers have become increasingly available within SEPA. As long as the payment stays in euros, a SEPA transfer tends to be inexpensive; it is the conversion that costs money.

Paying someone abroad from your Interactive Brokers (U.k.) LTD account

The price of a payment abroad has more than one component. On top of the transfer fee, banks in between may take a cut, and when the money changes currency, the bank usually uses a rate below the real market rate.

Most of the cost usually sits in the exchange rate: many banks convert using an exchange rate that includes a margin. Check their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

Money transfer services frequently offer rates closer to the mid-market rate and lower fees. GoldexPay compares these services next to each other, showing the amount the recipient gets before you commit. You can still use your account at Interactive Brokers (U.k.) LTD to fund the transfer, while a cheaper service handles the conversion.

Transfer times and tracking a payment to Interactive Brokers (U.k.) LTD

How quickly a payment arrives at Interactive Brokers (U.k.) LTD depends on several factors: the currency, the number of banks in between, daily processing deadlines and differences in time zone. Transfers sent late in the day or just before weekends and holidays usually go out the next business day. Extra checks by one of the banks can also cause a delay.

Many banks are connected to SWIFT gpi for faster and traceable payments. Each payment gets a unique transaction reference, the UETR that banks can use to trace it. Keep the payment confirmation – you will need it for any trace request.

The bank that sent the money can request a trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. As a recipient, it helps to look at your account for a partial amount, since fees may have been deducted.

8 or 11 characters: IABRGB2L versus IABRGB2LXXX

Every SWIFT/BIC code starts with the same eight core characters: a four-letter bank code, two letters for the country and two characters for the location. The result is IABRGB2L.

Most banks and apps work with both lengths. If a form asks for eleven characters, use IABRGB2LXXX.

Leave out spaces or dashes when you type IABRGB2L; the code is always written in one block. A wrong letter may route a payment to a different institution, so copy it carefully.

About this information

We collect bank codes from public sources and update our list from time to time. Institutions reorganise, change names and change codes. The number of codes we show are based on our own data, not official figures from Interactive Brokers (U.k.) LTD.

For a payment that matters, check the code with the recipient’s bank or the recipient. GoldexPay is not affiliated with Interactive Brokers (U.k.) LTD; we are a comparison site for money transfers. Found outdated information? Let us know via our contact form so we can correct it.