Korea Development Bank, London Branch SWIFT/BIC code

SWIFT/BIC code of Korea Development Bank, London Branch

The 8-character code KODBGB2L and the full code KODBGB2LXXX refer to the same bank: Korea Development Bank, London Branch, with its head office in London. A BIC has a single purpose: it ensures that an international payment reaches the right bank. It comes up mostly for payments that cross a border.

Further down we go through the practical questions: money coming in from abroad, paying someone in another country and how to verify the code before you hit send. The SWIFT code alone does not identify an individual account holder; that is what the account number or IBAN is for.

Choosing between the 2 SWIFT codes of Korea Development Bank, London Branch

Our directory lists 2 SWIFT/BIC codes for Korea Development Bank, London Branch. Besides the head office code KODBGB2LXXX, you will find codes for branches, departments or specific services.

Unless the recipient tells you otherwise, go with KODBGB2LXXX or its short form KODBGB2L. Branch codes are only needed if the account holder explicitly mentions it, which is more common for corporate accounts and specialised services.

The best way is to take the code straight from the recipient’s statement. Branch codes are more prone to be retired than the head office code.

Scams that use SWIFT codes

Be wary if a contact unexpectedly wants you to pay into a different account or a bank in another country. A real SWIFT code tells you nothing about who owns the account – scammers simply use real codes.

Always verify a change of bank details through a phone call on a number you know, not one from the message. Urgency or requests to keep it quiet tend to be warning signs; a genuine business can wait for you to check. Already paid? Contact the bank you paid from straight away and have them start a recall and report the fraud.

Fraud can also target the receiver. Someone sends more than agreed and wants you to refund the difference. Wait until the money has really arrived.

SEPA payments and the Korea Development Bank, London Branch BIC

Inside SEPA, euro payments to Korea Development Bank, London Branch use the same rules and in most cases need only the IBAN. A field for the BIC is usually optional or missing in that case.

A SWIFT code like KODBGB2L still come into play when the currency is not euros, and for transfers from outside SEPA. Some banks and apps also show a field for the BIC out of habit; if so, fill in KODBGB2L.

SEPA transfers normally land by the next business day; instant payments are faster if both banks offer them. As long as no currency is converted, a SEPA transfer tends to be inexpensive.

Getting paid from abroad into a Korea Development Bank, London Branch account

Someone abroad who wants to pay you needs several details from you, and missing ones are a common cause of delays. What they need is: the account holder’s name, IBAN or account number, KODBGB2LXXX or KODBGB2L and often your home address.

You can include the bank name and its city too. A mistake in the IBAN can be harder to fix than you might think; copy them from your banking app rather than typing.

An incoming payment does not always arrive for the full amount. Intermediary banks may deduct a fee, Korea Development Bank, London Branch may charge for incoming payments, and if the currency changes, an exchange rate margin comes on top. Agree with the sender who pays which costs, especially for larger amounts.

8 or 11 characters: KODBGB2L versus KODBGB2LXXX

Every SWIFT/BIC code has an 8-character core: a four-letter bank code, two letters for the country and two characters for the location. In this case, the 8-character core is KODBGB2L.

Most payment forms work with either length. If a form requires eleven characters, enter KODBGB2LXXX.

In practice the code is written in capitals, without spaces or dashes. A wrong letter may route the money to another bank, so copy it carefully.

About this information

The details here are taken from publicly available data that we update regularly. It can happen that information on this page is no longer current. The number of codes we show are based on our own data, not official figures from Korea Development Bank, London Branch.

Use our data as a starting point, not as the last word: the recipient’s bank details come first. GoldexPay has no connection to Korea Development Bank, London Branch, we only compare transfer services. Spotted outdated information? Let us know via our contact form so we can correct it.

British Pound (GBP) and conversion costs

United Kingdom pays in the British Pound (GBP). If you send another currency, the amount has to be converted somewhere along the way. Each conversion eats into the amount – usually through the rate rather than a fee.

Who converts the payment matters: every bank has its own margin. Sending the amount directly in GBP often prevents a second conversion.

Exchange rates change all the time. For recurring payments, a slightly better rate add up over a year.

How long does an international transfer to Korea Development Bank, London Branch take?

How quickly a payment arrives at Korea Development Bank, London Branch is determined by a few things: the currency, the number of banks in between, daily processing deadlines and time zones. Payments made after the cut-off time or on a weekend or public holiday usually go out a business day later. Compliance checks by one of the banks can also cause some delay, regardless of the details.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each gpi transfer gets 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.

If a payment has not arrived within the expected time, the person who paid should contact the bank that sent it. On the receiving end, it helps to look at your account to see a partial amount.

Sending money abroad from Korea Development Bank, London Branch

The price of a payment abroad is made up of more than one component. You pay the transfer fee, possibly charges from correspondent banks along the way and, above all, the margin on the exchange rate.

That exchange rate margin is often the largest cost because it is hidden in the rate. Check their rate against the mid-market rate – the rate you find on financial news sites.

For many currency pairs, a transfer service turns out to be less expensive than a bank. Before your next transfer, it is worth comparing what arrives on GoldexPay instead of going straight to your bank. Choosing a specialist does not mean leaving Korea Development Bank, London Branch.

Is KODBGB2L still correct? How to check

The most reliable source for a SWIFT code is the recipient’s own bank details: an invoice, a bank statement or their online banking. If the code you have does not match KODBGB2L or KODBGB2LXXX, do not guess.

Mistakes in the BIC tend to be costly rather than disastrous – usually the money comes back, minus fees and time lost. A mistake in the account number is more serious; check it just as carefully.

Many banking apps validate the structure of an IBAN and sometimes look up the BIC automatically. If your bank offers it, a name check on the recipient gives extra certainty. For a first payment, some people send a small test amount.