Mashreq Bank Psc SWIFT/BIC code

What MSHQGB2L means for a payment to Mashreq Bank Psc

The 8-character code MSHQGB2L and the 11-character code MSHQGB2LXXX identify one and the same institution: Mashreq Bank Psc in London, United Kingdom. A SWIFT code shows the sending bank exactly which bank should receive the money, a bit like a postal address for banks. It comes up mainly for transfers between countries and payments in foreign currencies.

Below you will find the practical questions: money coming in from abroad, paying someone in another country and how to check the code before you confirm a payment. The BIC names a bank or branch, never a specific account; the IBAN or account number does that.

Paying into Mashreq Bank Psc in GBP

Most accounts at Mashreq Bank Psc are typically held in GBP, the local currency. Money sent in a different currency is converted into GBP – and the bank that does it picks the rate. Each conversion costs something.

Which bank converts the payment matters, because each party uses its own rate. In many cases you pay less if you send GBP directly through a provider with a good rate.

The GBP rate fluctuates throughout the day and quotes are often valid only for a short time. With bigger transfers, even small difference in the rate can be worth more than the fee.

Mashreq Bank Psc: head office code versus branch codes

Our directory lists 3 SWIFT/BIC codes for Mashreq Bank Psc in 1 places. Besides the head office code MSHQGB2LXXX, there are codes for branches, departments or specific services.

Unless the recipient tells you otherwise, use MSHQGB2LXXX. When you receive a specific code, use it as it is rather than replacing it for the head office code.

If you are not sure, ask the person you are paying for the exact BIC in their bank details. Codes can change when banks reorganise, so do not rely on old paperwork.

Transfer times and tracking a payment to Mashreq Bank Psc

How fast a payment reaches Mashreq Bank Psc is determined by several factors: which currency you send, how many intermediary banks are involved, cut-off times and differences in time zone. Bank holidays in the sending or receiving country can add a day or more. Occasionally a bank wants to know about the purpose of a payment before releasing it.

Many banks are connected to SWIFT gpi for faster and traceable payments. Every gpi transfer carries a unique reference, the UETR, which your bank can use to see where the money is. Money transfer services usually show tracking online so you can see how far the money has got.

If a payment has not arrived after a few business days, the sender should contact the bank that sent it. As a recipient, you can look at your account for a slightly lower amount, since fees may have been deducted.

Do you need MSHQGB2L for a SEPA transfer?

United Kingdom belongs to the Single Euro Payments Area (SEPA), where euro transfers follow common rules. When you send euros from another SEPA country, you normally only need the IBAN.

A SWIFT code like MSHQGB2L does matter when the currency is not euros. A few banks and apps also show a field for the BIC; in that case, enter MSHQGB2L.

SEPA transfers usually arrive within one business day; instant payments are faster if both banks offer them. Provided the payment stays in euros, a SEPA transfer is cheap.

How to check MSHQGB2L before you pay

The most reliable source for the BIC is the recipient’s own bank details. When the code you were given does not match MSHQGB2L or MSHQGB2LXXX, stop and ask.

If the code is wrong, the transfer might be delayed, be returned or end up costing more, and tracing it can take weeks. An error in the account number can be more serious, because the money may be credited to someone else; check it just as carefully.

Most online banking apps check the structure of IBANs. Some banks now check the name against the account before you confirm – do not ignore a mismatch warning. A small test payment is worth it for a large first payment.

Receiving money from abroad at Mashreq Bank Psc

To receive an international payment at Mashreq Bank Psc, the sender has to have more than the BIC. What they need is: the account holder’s name, account number or IBAN, MSHQGB2LXXX or MSHQGB2L and, for some countries, your postal address.

Certain sending banks want the address of Mashreq Bank Psc in London, so keep it at hand. Check every detail before you send them.

Expect that the amount credited is smaller than the amount on the sender’s receipt. Charges on incoming payments vary per bank – the price list of Mashreq Bank Psc tells you what applies. On invoices, you can state how the fees are split.

About this information

The codes on this page are taken from public sources. It is possible that a code here is out of date after a merger or reorganisation. The figures we show are based on our own data, not official figures from Mashreq Bank Psc.

See our directory on this page as a handy check. GoldexPay is independent of Mashreq Bank Psc, we only compare transfer services. Spotted outdated information? Tell us via our contact form so we can correct it.

Paying someone abroad from your Mashreq Bank Psc account

When you transfer money abroad from Mashreq Bank Psc, the fee you see is rarely all of what you pay. There is the fee for the transfer itself, sometimes fees charged by intermediary banks in between and, above all, the margin on the exchange rate.

That exchange rate margin is often the biggest cost because it is hidden in the rate. A simple test: put the bank’s rate next to the mid-market rate and work out the difference on your amount.

For a lot of currency pairs, a transfer service is less expensive than a traditional bank transfer – mostly thanks to the rate. Next time you send money, 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 Mashreq Bank Psc – you pay the provider from your own account.

8 or 11 characters: MSHQGB2L versus MSHQGB2LXXX

A BIC is built from fixed blocks: characters one to four identify the bank, characters five and six show the country and the two after that indicate the location. Together, those parts make up MSHQGB2L – the version you usually see online.

XXX at the end of MSHQGB2LXXX is not a placeholder or an error: it indicates the main office of Mashreq Bank Psc. Some forms insist on 11 characters, and then you simply enter XXX behind MSHQGB2L.

As a rule the code is typed in capitals and without spaces. Look out for the letter O and the digit 0 and I versus 1; they are easy to mix up.

Scams that use SWIFT codes

A common scam works like this: an email arrives with a request claiming that a company has new bank details. A correct SWIFT code says nothing about who owns the account – scammers simply use real codes.

Always confirm changed bank details by phone on a number you know, not one from the message. Be suspicious of urgent requests, odd spelling or a sender address that is slightly off. When money has already gone to a fraudster, contact your bank immediately.

Fraud can also work the other way: someone sends more than agreed and asks you to refund the difference via a different route. Wait until the money is actually in your account and check with Mashreq Bank Psc if anything seems off.