Mako Global Derivatives Limited SWIFT/BIC code

Mako Global Derivatives Limited SWIFT code: MAKOGB21

The 8-character code MAKOGB21 and the full code MAKOGB21XXX refer to the same bank: Mako Global Derivatives Limited in London, United Kingdom. A SWIFT code tells every bank in the chain which institution should receive the money, much like a postcode for banks. You will need it mostly for transfers between countries and payments in foreign currencies.

On this page you will find how the code means, when it matters and which other details a transfer to or from Mako Global Derivatives Limited requires. The SWIFT code on its own does not identify an individual account holder; that is what the IBAN or account number .

Choosing between the 2 SWIFT codes of Mako Global Derivatives Limited

Mako Global Derivatives Limited has 2 separate SWIFT/BIC codes. One of them is the head office code; the others identify branches.

Usually there is no need to look up a branch: payments addressed to MAKOGB21XXX reach Mako Global Derivatives Limited without problems. A branch code only makes sense if the recipient’s bank specifically asks for it.

The best way is to take the code straight from the account holder’s bank details. Branch codes can change when banks reorganise, so a code from an old document is not always valid.

Euro transfers to Mako Global Derivatives Limited: is a BIC needed?

Inside SEPA, euro transfers to an account in United Kingdom use common rules. The BIC field is often optional for those payments.

You still need MAKOGB21XXX for payments in other currencies or transfers from countries outside SEPA. A few forms still ask for the BIC out of habit; in that case, fill in MAKOGB21 or MAKOGB21XXX.

SEPA transfers normally land by the next business day. Fees for SEPA transfers are generally low.

Tracking a transfer to or from Mako Global Derivatives Limited

How quickly a payment reaches Mako Global Derivatives Limited depends on several factors: the currency, how many intermediary banks are involved, daily processing deadlines and time zones. Payments made after the cut-off time or on weekends and holidays usually go out the next business day. Occasionally a bank asks about the purpose of a payment, which can hold things up.

When a payment takes longer than expected, contact the sending bank about the status and the transaction reference; with that reference banks can see where the payment is. Keep your transfer receipt – you will need it for any trace request.

A delayed transfer is traced by the sending bank on the basis of the transfer details. Ask the sender for a copy of the payment confirmation including the reference – it helps your own bank look for the money.

MAKOGB21 or MAKOGB21XXX – which one to use?

A BIC is made up of a few fixed parts: characters one to four identify the bank, the next two show the country and characters seven and eight indicate the location. That gives you MAKOGB21.

XXX at the end of MAKOGB21XXX is not a missing value or an error: it indicates the head office of Mako Global Derivatives Limited. Some forms insist on 11 characters, and then you simply enter XXX behind MAKOGB21.

As a rule the code is written in capitals and without spaces. A single letter can send the money to another bank.

Sending money abroad from Mako Global Derivatives Limited

A bank transfer abroad costs rather more than the listed fee. You pay the fee for the transfer itself, possibly charges from correspondent banks in between and, above all, the exchange rate markup if the currency changes.

Most of the cost usually sits in the exchange rate, rather than in the fee: many banks convert at a rate with a margin built in. Check their rate with the mid-market rate.

Money transfer services often use rates closer to the mid-market rate. On GoldexPay we compare the amount that arrives across services, so you can pick the cheapest route. Using a transfer service does not mean closing your account at Mako Global Derivatives Limited.

A note on our data

The codes on this page are taken from public sources which we refresh regularly. Institutions reorganise, close branches and change codes – a directory can be a step behind. The number of codes we show reflect what is in our directory, not official figures from Mako Global Derivatives Limited.

For a payment that matters, always check the BIC with the recipient’s bank or the recipient. GoldexPay is an independent comparison service and not affiliated with Mako Global Derivatives Limited. Found an error? Tell us through the contact page and we will look into it.

What to give a sender who pays you at Mako Global Derivatives Limited

Someone abroad who wants to pay you will ask for several details about your account. That means: your full name as registered with Mako Global Derivatives Limited, your account number or IBAN, the SWIFT/BIC code MAKOGB21XXX (or MAKOGB21) and usually your postal address.

Certain banks also ask for the bank’s address; it does no harm to include it. A mistake in your account number can be harder to fix than you might think, so copy the details from your online banking.

The amount you receive can be less than the amount sent. Intermediary banks may deduct a fee, and if the currency changes, an exchange rate margin applies. Make clear with the sender who pays which costs, especially for larger amounts.

Paying into Mako Global Derivatives Limited in GBP

The currency of United Kingdom is the British Pound (GBP). If you send another currency, the amount gets converted somewhere along the way: by your bank, an intermediary or Mako Global Derivatives Limited itself. Each conversion eats into the amount.

Who converts the money matters, because each party uses its own rate. Transferring the money directly in GBP usually prevents a second conversion.

Rates for GBP move during the day, and some providers let you lock in a rate. On larger amounts, a small gap in the rate adds up quickly.

Scams that use SWIFT codes

One of the most common tricks goes like this: you receive a request saying that a contact now has a new bank account and asking you to pay there from now on. A correct SWIFT code tells you nothing about who owns the account.

Do not trust a phone number in the same message that contains the change. Pressure or secrecy tend to be warning signs. When money was sent to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

Recipients can be targeted as well: a classic trick is an overpayment followed by a request to send back the difference to another account. Wait until the money has really arrived – ask Mako Global Derivatives Limited if something looks wrong.

Verifying the SWIFT code of Mako Global Derivatives Limited

Have the recipient send you their bank details directly from a recent statement. Check it with MAKOGB21 on this page.

Mistakes in the BIC tend to be costly rather than fatal: often the payment comes back, minus fees. Remember the IBAN: an error there is more difficult to correct than a wrong BIC.

An automatic check in your banking app merely tells you that the IBAN exists – not that it belongs to the person you mean to pay. If your bank offers it, a name check before sending gives an extra layer of safety. Sending a small amount first is worth it for large sums despite the extra fee.