Merrill Lynch International SWIFT/BIC code

SWIFT/BIC code of Merrill Lynch International

The 8-character code MLILGB2A and the full code MLILGB2AXXX refer to one and the same institution: Merrill Lynch International in London, United Kingdom. A SWIFT code tells the banks handling a payment exactly which bank is meant to get the money, much like a postcode for banks. You will need it mostly for payments that cross a border or a currency.

On this page we explain how the code means, when you need it and which other details you need for a transfer to or from Merrill Lynch International. Keep in mind that the SWIFT code only identifies the bank, not the person: the account number or IBAN does that part.

Watch out for payment fraud

One of the most common tricks goes like this: an email arrives with a message saying that a contact has a new bank account. A real SWIFT code tells you nothing about whether the request is genuine – scammers simply use real codes.

Do not trust contact details from the same email that contains the change. Pressure and secrecy tend to be warning signs; a genuine business can wait for you to check. Acted too fast? Call your bank straight away and have them try to recall the payment; also report it to the police.

Fraud also work the other way: someone sends too much and asks you to refund the difference. Do not act before the money is actually in your account and check with Merrill Lynch International if anything seems off.

A note on our data

We gather bank codes from publicly available data and check our list from time to time. It can happen that information here is no longer current after a merger or reorganisation. The number of codes on this page are based on our own data.

Use our data as a starting point, not as the last word – the bank details from the recipient are leading. GoldexPay is independent of Merrill Lynch International. Spotted outdated information? Tell us through the contact page.

Is MLILGB2A still correct? How to check

Have the recipient copy their bank details directly from their online banking. Check it with MLILGB2A on this page; if they differ, ask before you pay.

Mistakes in the BIC tend to be costly rather than fatal. An error in the account number is a bigger problem because it can reach the wrong person.

An automatic check by your bank only tells you that the IBAN is valid. If your bank offers it, a payee name check before sending adds extra certainty. When you pay someone new, many people start with a small amount first and wait for confirmation.

International transfers from Merrill Lynch International: the real cost

If you transfer money to another country from Merrill Lynch International, the fee you see is rarely all of the cost. On top of a fixed fee, banks in between can deduct a fee, and when currencies are converted the bank often applies a rate below the actual market rate.

Many banks do not list their exchange rate markup separately. A simple test: set the rate you get against the mid-market rate and look at the difference.

Specialised transfer providers often offer rates closer to the mid-market rate with clearer fees. GoldexPay compares these services side by side so you can see what actually arrives for the same amount sent. You can still use your account at Merrill Lynch International to fund the transfer, while a cheaper service handles the conversion.

SEPA payments and the Merrill Lynch International BIC

Since United Kingdom is part of the SEPA zone, a euro transfer to Merrill Lynch International from within the SEPA area normally only needs the IBAN. Most banking apps no longer ask for the BIC in that case or fill it in for you.

The BIC does come into play when the currency is not euros, and for transfers from outside SEPA. If a payment form asks for the BIC regardless, adding MLILGB2A is fine.

Instant payments in euros are widely supported across SEPA. Provided no currency is converted, the transfer is inexpensive; costs rise once a conversion is involved.

Merrill Lynch International: head office code versus branch codes

With 50 codes in 2 locations, Merrill Lynch International belongs to the banks that use individual codes for branches. The main code is MLILGB2AXXX.

If nobody asks you for a branch code, use MLILGB2AXXX or its short form MLILGB2A. A branch code only makes sense when the account holder specifically asks for it, which is more common for business accounts and specialised services.

The safest route is to copy the code directly from the recipient’s statement. Branch codes are more prone to be retired than the head office code.

When will the money arrive at Merrill Lynch International?

There is no single answer: some arrive the same day or the next, others take several business days. Bank holidays in the sending or receiving country can add a day or more. Sometimes a bank asks what the payment is for before releasing it.

Many banks are connected to SWIFT gpi for faster and traceable payments. Each gpi transfer carries a unique transaction reference, the UETR that banks can use to trace it. Money transfer services often provide tracking in their app so you can see how far the money has got.

A missing payment is investigated by the sending bank. As a recipient, you can check your account to see a partial amount.

Receiving money from abroad at Merrill Lynch International

A sender in another country needs a few details from you. That means: your full name as registered with Merrill Lynch International, your IBAN or account number, the BIC MLILGB2AXXX (or MLILGB2A) and usually your address.

The sender’s bank might request the address of your bank. A typo in your account number can be more trouble than it looks, so copy the details from your online banking.

Expect that the amount credited is smaller than the amount on the sender’s receipt. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin comes on top. On invoices, you can agree how the fees are split.

Why Merrill Lynch International has an 8- and an 11-character code

Every SWIFT/BIC code starts with an 8-character core: a four-letter bank code, two letters for the country and a two-character location code. In this case, that core is MLILGB2A.

XXX at the end of MLILGB2AXXX does not stand for a placeholder or a mistake: it indicates the head office of Merrill Lynch International. Certain payment forms ask for 11 characters, and then you can add XXX behind MLILGB2A.

Type the code as one block, in capitals and without separators, exactly as shown here. A wrong letter can send a payment to another bank, so check it twice.

The British Pound and what conversion costs you

United Kingdom pays in the British Pound, code GBP. A payment in a foreign currency will be exchanged into GBP, and whoever converts it chooses the rate. You rarely see a separate charge for the conversion – the cost sits in the rate.

Who converts the money matters, because each party uses its own rate. Sending the money directly in GBP usually prevents an extra conversion by Merrill Lynch International – as long as your own rate is good.

Rates for GBP change all the time. On larger amounts, a seemingly small difference in the rate adds up quickly.