Mam Funds PLC SWIFT/BIC code

Mam Funds PLC SWIFT code: MAFUGB21

Whether a recipient gives you MAFUGB21 or MAFUGB21XXX, it is the same identifier for Mam Funds PLC in United Kingdom. A SWIFT code tells the sending bank which institution is meant to get the money, a bit like a postal address for banks. It comes up mainly when dealing with payments that cross a border or a currency.

On this page we explain what the code is put together, when it matters and which other details a transfer to or from Mam Funds PLC requires. Keep in mind that the BIC just identifies the bank, not the person: the account number or IBAN takes care of that.

Choosing between the 3 SWIFT codes of Mam Funds PLC

Mam Funds PLC uses 3 different SWIFT/BIC codes. Only one is the head office code; the rest identify branches.

If nobody asks you for a branch code, use MAFUGB21XXX. Just use a branch code when the recipient explicitly asks for it, for example on a letter or invoice.

If you are not sure, ask the person you are paying which code their bank gave them. Branch codes are more likely to change than the head office code.

Watch out for payment fraud

One of the most common tricks works like this: you receive a message claiming that a contact now has a new bank account. That MAFUGB21 is a real code is no guarantee that a request mentioning it is legitimate.

Verify new payment details through a different channel like a call to a number from an earlier contract. Watch out for urgent requests, odd spelling or a sender address that is slightly off. When money was sent to the wrong account, contact your bank immediately.

Fraud can also target the receiver: someone sends more than agreed and wants you to refund the extra to a new account. Wait until the money has really arrived.

Why Mam Funds PLC has an 8- and an 11-character code

The structure of a BIC is always the same: a bank code of four letters, two for the country and two for the location, sometimes followed by a branch code. In this case, the 8-character core is MAFUGB21.

Most banks and apps work with either length. If a form asks for eleven characters, use MAFUGB21XXX, otherwise MAFUGB21 is fine.

As a rule the code is typed in capitals and without spaces. Copying the code is safer than typing it by hand, because one wrong letter changes the bank.

Do you need MAFUGB21 for a SEPA transfer?

Inside SEPA, euro transfers to Mam Funds PLC follow the same rules, so the IBAN does the job in most cases. The BIC field is usually optional or missing in that case.

A SWIFT code like MAFUGB21 does matter for payments in other currencies, and for transfers from outside SEPA. Some forms also show a field for the BIC out of habit; in that case, enter MAFUGB21 or MAFUGB21XXX.

Instant euro transfers are increasingly supported within SEPA. Charges on SEPA transfers tend to be low, as long as no currency conversion is involved.

Incoming international payments to Mam Funds PLC

When you expect money from abroad, give the sender everything they need in one go. Give them the account holder’s name, the IBAN or account number, SWIFT code MAFUGB21XXX and your address, which some banks require.

Their bank might request the address of your bank, in which case the Reading head office is the usual answer. A typo in the IBAN can be more trouble than it looks; copy them from your banking app rather than typing.

What lands in your account can be less than the amount sent. Charges on incoming payments vary from bank to bank; check the price list of Mam Funds PLC. On invoices, you can state who bears the costs, so that nobody is left short.

Tracking a transfer to or from Mam Funds PLC

A SWIFT payment typically needs one to a few business days. Transfers sent after the cut-off time or on weekends and holidays often start the next business day. Extra checks by one of the banks can also add a delay, even when all details are correct.

A growing number of banks use SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer gets a unique transaction reference, the UETR, which your bank can use to see where the money is. Save the payment confirmation until the money has arrived.

Only the sending bank can request a trace or a recall; the receiving side usually has nothing to trace yet. Request from the sender the payment receipt with the date and reference; that often settles the question quickly.

A note on our data

This directory is compiled from public sources. Even so, banks merge, rename themselves or retire codes. Figures such as the number of codes are from our directory.

Use this page as a starting point, rather than as the last word: the recipient’s bank details come first. We are an independent comparison site for money transfers and not part of Mam Funds PLC. Spotted outdated information? Tell us through the contact page so we can correct it.

Sending GBP to Mam Funds PLC

United Kingdom pays in the British Pound, with the currency code GBP. If you send another currency it gets converted somewhere along the way – by your bank, by Mam Funds PLC or by a bank in between. There is rarely a separate line for that conversion.

Who does the conversion affects the final amount. Check how much GBP the recipient gets via several services before choosing one.

The GBP rate fluctuates constantly and quotes are often valid only for a short time. On larger amounts, even seemingly small difference in the rate adds up quickly.

Verifying the SWIFT code of Mam Funds PLC

The most reliable source for a SWIFT code is the bank details provided by the recipient: an invoice, a bank statement or their online banking. Compare it with MAFUGB21 here.

An incorrect BIC can cause a delay, a payment being sent back or additional charges for investigation. A mistake in the account number can be more serious, so check that just as carefully.

An automatic check by your bank only tells you that the IBAN is valid – not that it belongs to the person you mean to pay. Some banks now compare the name against the account. Sending a small amount first can be worth it for large sums.

What a transfer from Mam Funds PLC abroad really costs

When you transfer money to another country from Mam Funds PLC, the fee you see is only part of the cost. There is the fee for the transfer itself, possibly fees charged by intermediary banks along the way and, above all, the exchange rate markup if the currency changes.

Many banks do not show the margin on the rate separately. A simple test: set the bank’s rate against the mid-market rate and look at the difference.

Specialised transfer providers frequently offer a rate near the mid-market rate and lower fees. Before your next transfer, take a minute comparing the total cost on GoldexPay instead of going straight to your bank. Choosing a specialist does not mean closing your account at Mam Funds PLC – you pay the provider from your own account.