Investec Bank PLC SWIFT/BIC code

SWIFT/BIC code of Investec Bank PLC

The short code IHCSGB21 and the 11-character code IHCSGB21XXX refer to the same bank: Investec Bank PLC, with its head office in London. The code does one job: it makes sure that money from abroad reaches the right bank. You will need it mostly for payments that cross a border and payments in foreign currencies.

We wrote this page to help anyone who sends money to an account at Investec Bank PLC and wants to get the details right. Keep in mind that the BIC just identifies the bank, not the account: the IBAN or account number does that part.

What the XXX in IHCSGB21XXX means

Each SWIFT/BIC code starts with an 8-character core: four letters for the bank, a two-letter country code and two characters for the location. For Investec Bank PLC, the 8-character core is IHCSGB21.

The 11-character version has a three-character extension for a branch or department. If the last three are XXX, they simply mean the head office, so IHCSGB21XXX and IHCSGB21 are interchangeable.

Enter the code in one piece, in upper case and without separators, exactly as shown here. A single letter can send a payment to another bank.

Paying someone abroad from your Investec Bank PLC account

If you transfer money abroad via Investec Bank PLC, the fee you see is rarely all of the cost. You pay the transfer fee, possibly charges from correspondent banks in between and, above all, the exchange rate markup.

Most of the cost usually sits in the exchange rate, not in the fee: the bank converts using an exchange rate with a margin built in. An easy check: put the rate you get next to the mid-market rate and look at the difference.

For a lot of currency pairs, a transfer service is cheaper than a bank – mostly thanks to the rate. GoldexPay compares transfer providers next to each other so you can see what actually arrives for the same amount sent. Choosing a specialist does not require closing your account at Investec Bank PLC: you simply pay the service from your account.

Euro transfers to Investec Bank PLC: is a BIC needed?

Within the SEPA zone, euro transfers to Investec Bank PLC use common rules, so the IBAN does the job in most cases. A field for the BIC is usually optional or missing in that case.

You still need IHCSGB21XXX for payments in other currencies or transfers from countries outside SEPA. If your banking app asks for the BIC anyway, entering IHCSGB21 is fine.

Instant euro transfers have become increasingly available across SEPA; check with Investec Bank PLC whether it applies to your account. Provided no currency is converted, a SEPA transfer is inexpensive.

How long does an international transfer to Investec Bank PLC take?

An international transfer usually needs anywhere from one to several business days – it depends on currency, route and the banks in between. Transfers sent after the cut-off time or just before weekends and holidays often go out the next business day. Occasionally a bank asks about the purpose of a payment.

Many banks are connected to SWIFT gpi. Every gpi transfer carries a unique transaction reference, the UETR that banks can use to trace it. Specialist transfer services usually provide tracking in their app so you can see how far the money has got.

A delayed transfer is investigated by the sending bank. Request from the sender the payment receipt including the reference – it helps your own bank look for the money.

Where our SWIFT data comes from

Our SWIFT/BIC directory is compiled from public sources and is updated regularly. Even so, banks merge, rename themselves or change codes. The number of codes on this page are based on what is in our directory, not official figures from Investec Bank PLC.

Treat this page as a starting point, rather than as the last word. GoldexPay has no connection to Investec Bank PLC. Should you notice something that is out of date, we appreciate a short note via the contact page.

What to give a sender who pays you at Investec Bank PLC

A sender in another country needs several details about your account, and missing ones are a common cause of delays. What they need is: your name, IBAN or account number, IHCSGB21XXX or IHCSGB21 and, for some countries, your postal address.

You can include Investec Bank PLC and its city too. A typo in the IBAN can be harder to fix than it looks.

What lands in your account can be lower than what was sent. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin applies. Make clear with the sender who pays which costs.

British Pound (GBP) and conversion costs

Accounts at Investec Bank PLC are usually held in GBP, the national currency of United Kingdom. If you send another currency it gets converted somewhere along the way. There is rarely a separate charge for the conversion.

Who does the conversion has an effect on the final amount. Transferring the money directly in GBP often avoids a second conversion at the receiving end – as long as your own rate is good.

The rate for GBP changes constantly, so the amount you see is usually only valid for a short time. For recurring payments, a slightly better rate make a real difference over time.

Watch out for payment fraud

Fraudsters regularly send fake invoices containing changed bank details. A correct SWIFT code says nothing about who owns the account: scammers use real codes of real banks.

Before paying, confirm a change of bank details by phone on a number you know, not one from the message. Watch out for urgent requests, unusual wording or a sender address that is slightly off. Acted too fast? Contact the bank you paid from without delay and ask them to try to recall the payment and report the fraud.

Fraud can also work the other way: someone claims to have sent too much and wants you to refund the difference via a different route. A payment confirmation from the sender proves nothing.

Head office or branch code at Investec Bank PLC?

With 4 codes, Investec Bank PLC belongs to the banks that use individual codes for branches and departments. The main code is IHCSGB21XXX.

In most cases there is no need to look up a branch: payments addressed to IHCSGB21XXX are routed within Investec Bank PLC without problems. Branch codes are only needed when the account holder explicitly mentions it.

The best way is to take the code straight from the account holder’s invoice. Codes are sometimes changed or retired over time.

Is IHCSGB21 still correct? How to check

Have the recipient send you their bank details directly from their banking app. Check it with IHCSGB21 here.

An incorrect BIC may lead to a delay, a payment being sent back or additional charges. Do not forget the IBAN: an error there is harder to undo than a wrong BIC.

An automatic check by your bank merely confirms that the code is valid – not that it belongs to the person you mean to pay. More and more banks compare the name against the account before you confirm; take any warning seriously. Sending a small amount first can be worth it for a large first payment.