J.p. Morgan Markets Limited SWIFT/BIC code

What BEARGB21 means for a payment to J.p. Morgan Markets Limited

The 8-character code BEARGB21 and the 11-character code BEARGB21XXX identify the same bank: J.p. Morgan Markets Limited in London, United Kingdom. Banks worldwide use BIC codes to route payments between countries to the correct institution. You will need it mainly when dealing with transfers between countries or a currency.

On this page you can read what the code means, when you need it and what else you need for a transfer to or from J.p. Morgan Markets Limited. Remember that the SWIFT code just identifies the bank, not the account: the IBAN or account number does that part.

Do you need BEARGB21 for a SEPA transfer?

United Kingdom belongs to the SEPA area, where euro transfers follow common rules. For a standard euro transfer from another SEPA country, you normally only need the IBAN and the BIC is often filled in automatically.

The BIC still come into play when the currency is not euros, and for transfers from outside SEPA. Some forms still show a field for the BIC out of habit; if so, enter BEARGB21.

SEPA transfers normally land within one business day, and instant transfers in seconds where both banks support them. As long as the payment stays in euros, the transfer tends to be inexpensive.

What to give a sender who pays you at J.p. Morgan Markets Limited

Someone abroad who wants to pay you will ask for several details about your account, and missing ones are a common cause of delays. The basics are: your name, account number or IBAN, BEARGB21XXX and in many cases your home address.

The sender’s bank may request the bank address of J.p. Morgan Markets Limited, in which case the London head office is the usual answer. Double-check every detail before you share them, because the sender’s bank usually copies them as is.

What lands in your account is often less than what was sent. Correspondent banks can take a fee, and if the money is converted, a markup on the rate comes on top. Agree with the sender who pays which costs.

Sending money abroad from J.p. Morgan Markets Limited

What you pay for a payment abroad has more than one component. You pay the fee for the transfer itself, possibly fees charged by intermediary banks in between and, above all, the exchange rate markup.

Many banks rarely list their exchange rate markup as a cost, but you pay it all the same. An easy check: put the bank’s rate against the mid-market rate for the same moment and look at the difference.

Specialist money transfer services often offer a rate near the mid-market rate and lower fees. Before your next transfer, take a minute to compare the total cost via GoldexPay. Using a transfer service does not require closing your account at J.p. Morgan Markets Limited – you pay the provider from your own account.

Sending GBP to J.p. Morgan Markets Limited

Accounts at J.p. Morgan Markets Limited are typically held in GBP, the national currency of United Kingdom. If you send another currency it gets converted at some point. There is rarely a separate charge for that conversion.

Where the conversion happens has an effect on the final amount, since every bank sets its own rate. Often you pay less to send GBP directly through a provider with a good rate.

The GBP rate changes constantly and quotes are often valid only for a short time. With bigger transfers, even small gap in the rate adds up quickly.

Tracking a transfer to or from J.p. Morgan Markets Limited

An international transfer usually needs anywhere from one to several business days – it depends on currency, route and the banks in between. Bank holidays in either country can add a day or more. Occasionally a bank wants to know about the purpose of a payment.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Every gpi transfer carries a unique transaction reference, the UETR. Money transfer services usually provide tracking online showing how far the payment is.

The bank that sent the money is able to start an official trace or a recall. Ask the sender for the payment receipt including the reference; that often settles the question quickly.

A note on our data

Our SWIFT/BIC directory is based on public sources and is updated regularly. It is possible that information here is no longer current after a merger or reorganisation. Figures such as the number of codes come from our own dataset and may differ from what J.p. Morgan Markets Limited publishes.

Treat our data as a starting point, rather than as the final word. GoldexPay is a comparison site and not part of J.p. Morgan Markets Limited. Should you notice a mistake, we welcome a short note.

Head office or branch code at J.p. Morgan Markets Limited?

With 2 codes, J.p. Morgan Markets Limited belongs to the banks that register individual codes for parts of the organisation. The main code remains BEARGB21XXX.

In most cases you do not need to look up a branch: transfers addressed to BEARGB21XXX are routed within J.p. Morgan Markets Limited correctly. When you receive a specific code, use it as it is rather than replacing it with the head office code.

The best way is to take the code straight from the recipient’s statement. Codes for branches are more prone to change than BEARGB21XXX when a bank merges or closes offices.

BEARGB21 or BEARGB21XXX – which one to use?

The structure of a BIC is always the same: four characters for the institution, two for the country and two for the location. Together, those parts make up BEARGB21 – the version you usually see online.

XXX at the end of BEARGB21XXX does not stand for a missing value or an error: it stands for the main office of J.p. Morgan Markets Limited. Certain payment forms insist on 11 characters, and then you can enter XXX behind BEARGB21.

In practice the code is written in capitals. A single letter can send a payment to another bank, so check it twice.

Changed bank details? Be careful

Scammers often use fake invoices containing new bank details sent from what looks like a familiar address. A valid SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Do not rely on contact details from the same email that announces the change. Be suspicious of time pressure, unusual wording or an email address that differs by one letter. When money has already gone to a fraudster, call your bank right away – 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 to another account. A screenshot of a transfer is no proof.

Verifying the SWIFT code of J.p. Morgan Markets Limited

The safest source for the BIC is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. If the code you have does not match BEARGB21 or BEARGB21XXX, do not guess.

Errors in the SWIFT code are annoying rather than disastrous: often the payment comes back, minus fees. A mistake in the IBAN or account number is a bigger problem, because the money may be credited to someone else, so check that just as carefully.

Many banking apps validate the structure of an IBAN and sometimes look up the BIC automatically. More and more banks compare the payee name against the account before you confirm; take any warning seriously. A small test payment is worth it for a large first payment despite the extra fee.