Jpmorgan Asset Management SWIFT/BIC code

What MGTCGB22 means for a payment to Jpmorgan Asset Management

The 8-character code MGTCGB22 and the 11-character code MGTCGB22XXX identify the same bank: Jpmorgan Asset Management. A SWIFT code tells the banks handling a payment which institution is meant to get the money, a bit like a postal address for banks. You will need it mostly for payments that cross a border.

Below you will find the practical questions: money coming in from abroad, sending money abroad and how to check a SWIFT code before you hit send. The BIC names a bank or branch, not a specific account.

Choosing between the 6 SWIFT codes of Jpmorgan Asset Management

Our directory lists 6 SWIFT/BIC codes for Jpmorgan Asset Management. Next to the head office code MGTCGB22XXX, there are codes for branches, departments or specific services.

For most payments to a private or business account, the head office code MGTCGB22XXX works fine. A branch code only makes sense when the account holder specifically asks for it, which is more common for business accounts and trade services.

Not sure which code to use? Ask the recipient or the bank itself. Codes are sometimes changed or retired over time.

What the XXX in MGTCGB22XXX means

A SWIFT code is made up of a few fixed parts: the first four letters stand for the bank, characters five and six show the country and characters seven and eight mark the location. In this case, the 8-character core is MGTCGB22.

XXX at the end of MGTCGB22XXX is not a missing value or an error: it indicates the main office of Jpmorgan Asset Management. Certain payment forms ask for 11 characters, and then you can add XXX behind MGTCGB22.

In practice the code is typed in capitals. A wrong letter can send a payment to a different institution.

Receiving money from abroad at Jpmorgan Asset Management

For an international payment into your account at Jpmorgan Asset Management, the sender needs more than the BIC. What they need is: your name, IBAN or account number, MGTCGB22XXX or MGTCGB22 and, for some countries, your postal address.

Certain sending banks also ask for the name and address of Jpmorgan Asset Management in London, so keep it at hand. A typo in your account number can be more trouble than you might think, so copy the details from your online banking.

The amount you receive can be less than what was sent. Correspondent banks can take a fee, Jpmorgan Asset Management may charge for incoming payments, and when currencies differ, a markup on the rate applies. On invoices, it is common to state who bears the costs, so that nobody is left short.

When will the money arrive at Jpmorgan Asset Management?

How fast a payment reaches Jpmorgan Asset Management is determined by several factors: which currency you send, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Bank holidays in either country can add a day or more. Sometimes a bank asks what the payment is for before releasing it.

If a transfer is late, contact your bank for the tracking status or the UETR so they can trace it along the chain. Keep your transfer receipt until the recipient confirms.

Only the sending bank can request a trace or a recall. Ask the sender for a copy of the payment confirmation with the date and reference – it helps your own bank look for the money.

Sending GBP to Jpmorgan Asset Management

United Kingdom pays in the British Pound (GBP). Money sent in a different currency is exchanged into GBP on its way to Jpmorgan Asset Management, and whoever converts it chooses the rate. You rarely see a separate line for the conversion – the cost sits in the rate.

Who does the conversion affects how much arrives, since every bank sets its own rate. Sending the amount directly in GBP often prevents an extra conversion at the receiving end – as long as your own rate is good.

Rates for GBP change during the day, and some providers let you lock in a rate. If you pay regularly, small differences in the rate make a real difference over a year.

Is MGTCGB22 still correct? How to check

The most reliable place for the correct BIC is paperwork issued by the bank, such as a statement or the account details in online banking. When the code you were given does not match MGTCGB22 or MGTCGB22XXX, do not guess.

If the code is wrong, the payment may get stuck, bounce back or end up costing more, and tracing it can take weeks. Remember the account number: a mistake there is harder to correct than a wrong BIC.

Many banking apps validate the structure of an IBAN, but that does not prove the account belongs to the right person. Where available, a name check on the recipient gives extra certainty. A small test payment is worth it for large sums, even if it costs an extra fee.

About this information

The details on this page are taken from publicly available data which we refresh regularly. It is possible that information on this page is out of date after a merger or reorganisation. The figures on this page reflect our own data.

See the information on this page as a handy check and rely on the recipient or Jpmorgan Asset Management for the final confirmation. GoldexPay has no connection to Jpmorgan Asset Management; we are a comparison site for money transfers. If you notice a mistake, we welcome a short note.

What a transfer from Jpmorgan Asset Management abroad really costs

If you send money to another country via Jpmorgan Asset Management, the visible fee is rarely all of what you pay. Besides a fixed fee, banks in between may deduct a fee, and when the money changes currency, the bank usually uses a rate that is less favourable than the real market rate.

Most of the cost usually sits in the exchange rate, not in the fee: the bank converts at a rate with a margin built in. Compare the rate you are offered with the mid-market rate – the rate you find on financial news sites. The difference is your real conversion cost.

For many currency pairs, a transfer service turns out to be less expensive than a bank – mostly thanks to the rate. GoldexPay compares these services side by side so you can see the amount the recipient gets before you commit. You can still keep your account at Jpmorgan Asset Management as the source of the money, while a cheaper service handles the conversion.

Changed bank details? Be careful

One of the most common tricks goes like this: you receive a message saying that a company has a new bank account. The fact that MGTCGB22 exists is no guarantee that the account is genuine.

Before paying, confirm a change of bank details by phone, using a number you already had. Watch out for time pressure, odd spelling or an email address that differs by one letter. If money was sent to a fraudster, call your bank right away.

Fraud also work the other way: someone claims to have sent too much and wants you to refund the difference. Do not act before the money is actually in your account.

Euro transfers to Jpmorgan Asset Management: is a BIC needed?

Because United Kingdom is in SEPA, a euro transfer into Jpmorgan Asset Management from within the SEPA area usually requires just the IBAN. Many banks no longer ask for the BIC in that case or fill it in for you.

Outside the euro and from non-SEPA countries, MGTCGB22XXX is still part of the payment details. A few forms still ask for the BIC; if so, enter MGTCGB22.

Instant payments in euros are widely available across SEPA – whether Jpmorgan Asset Management offers them for your account is worth checking. Charges on SEPA transfers tend to be low.