Renaissance Capital LTD SWIFT/BIC code

What RECAGB2L means for a payment to Renaissance Capital LTD

Whether you are given RECAGB2L or RECAGB2LXXX, it is the identical address for Renaissance Capital LTD in United Kingdom. The code has a single purpose: it makes sure that a cross-border transfer ends up at the right bank. It comes up mainly for payments that cross a border or a currency.

We wrote this page to help anyone who sends money to an account at Renaissance Capital LTD. Keep in mind that the BIC only identifies the bank, not the account: the IBAN or account number takes care of that.

Verifying the SWIFT code of Renaissance Capital LTD

Ask the recipient to send you their bank details directly from their banking app. If the code you have differs from RECAGB2L or RECAGB2LXXX, do not guess.

Mistakes in the SWIFT code are annoying rather than disastrous: often the payment comes back, minus fees. An error in the account number can be a bigger problem, so check that just as carefully.

Many banking apps check the structure of an IBAN and some suggest the matching BIC, but that does not prove the account belongs to the right person. More and more banks check the name with the account. For a first payment, many people start with a small amount first and wait for confirmation.

Paying someone abroad from your Renaissance Capital LTD account

An international bank payment costs rather more than the fee suggests. Besides the transfer fee, banks in between may take a cut, and when the money changes currency, the bank usually uses a rate that is less favourable than the real market rate.

The real cost is often in the rate: the bank converts at a rate with a margin built in. Compare their rate against the mid-market rate – the rate you find on financial news sites.

Specialised transfer providers frequently offer a rate near the mid-market rate with clearer fees. Before your next transfer, it is worth to compare the total cost on GoldexPay rather than accepting the bank’s rate by default. Choosing a specialist does not mean closing your account at Renaissance Capital LTD – you pay the provider from your own account.

8 or 11 characters: RECAGB2L versus RECAGB2LXXX

A BIC is built from fixed blocks: the first four letters identify the bank, characters five and six show the country and the two after that mark the location. Together, those parts make up RECAGB2L, the code most people search for.

XXX at the end of RECAGB2LXXX does not stand for a missing value or an error: it stands for the head office of Renaissance Capital LTD. Some forms ask for 11 characters, in which case you simply add XXX behind RECAGB2L.

As a rule the code is typed in capitals, without spaces or dashes. Watch for the letter O and the digit 0 or the letter I and the digit 1; they are easy to mix up.

SEPA payments and the Renaissance Capital LTD BIC

Inside SEPA, euro transfers to Renaissance Capital LTD follow the same rules and in most cases need only the IBAN. The BIC field is usually optional or missing for those payments.

The BIC does come into play when the currency is not euros and when the money comes from outside SEPA. If your banking app has a field for the BIC regardless, adding RECAGB2L is fine.

SEPA transfers normally land by the next business day; instant payments are faster if both banks offer them. Charges on SEPA transfers tend to be low.

Head office or branch code at Renaissance Capital LTD?

With 2 codes, Renaissance Capital LTD is one of the banks that use individual codes for parts of the organisation and departments. The head office code is RECAGB2LXXX.

Usually there is no need to pick a branch: payments sent to RECAGB2LXXX reach Renaissance Capital LTD correctly. When you receive a specific code, stick to it instead of replacing it for the head office code.

If you are not sure, check with the recipient which code their bank gave them. Codes for branches are more prone to change than the head office code.

How up to date is this code?

The details here come from public sources which we refresh regularly. Institutions merge, change names and change codes. The number of codes we show reflect our own data and not on information from Renaissance Capital LTD itself.

Treat the information on this page as a handy check, and let the details from the recipient or Renaissance Capital LTD have the final say. GoldexPay has no connection to Renaissance Capital LTD; we are a comparison site for money transfers. Should you notice a mistake, we appreciate a message via the contact page.

What to give a sender who pays you at Renaissance Capital LTD

To receive a transfer from abroad at Renaissance Capital LTD, the sender needs more than the SWIFT code. That means: your full name as registered with Renaissance Capital LTD, your IBAN or account number, the SWIFT/BIC code RECAGB2LXXX and sometimes your address.

Some sending banks want the bank’s address. A mistake in the IBAN is more trouble than it looks.

The amount you receive is often lower than the amount sent. Charges on incoming payments differ per bank; check the price list of Renaissance Capital LTD. On invoices, it is common to state how the fees are split to avoid a shortfall.

Changed bank details? Be careful

One of the most common tricks goes like this: you receive a message saying that a company has new bank details. A real SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Check changed payment details through a separate channel like a call to a number from an earlier contract, not by replying to the message. Pressure or secrecy tend to be red flags. If a payment 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 and then sends a request to refund the difference abroad. Wait until the money is actually in your account and check with Renaissance Capital LTD if anything seems off.

Paying into Renaissance Capital LTD in GBP

The national currency in United Kingdom is the British Pound (GBP). Money sent in a different currency is converted into GBP on its way to Renaissance Capital LTD – and the bank that does it picks the rate. You rarely see a separate charge for that conversion – the cost sits in the rate.

Which bank converts the money makes a difference: every bank has its own margin. Compare what GBP the recipient gets with different services.

The rate for GBP fluctuates throughout the day, so the amount you see is usually only valid for a short time. If you pay regularly, small differences in the rate make a real difference over time.

When will the money arrive at Renaissance Capital LTD?

How quickly a payment arrives at Renaissance Capital LTD is determined by several factors: the currency, how many intermediary banks are involved, cut-off times and time zones. Transfers sent after the cut-off time or on a weekend or public holiday often go out the next business day. Sometimes a bank wants to know what the payment is for.

A growing number of banks are connected to SWIFT gpi. Each gpi transfer gets a unique reference, the UETR that banks can use to trace it. Money transfer services often show a status online showing where the payment has got.

If the money does not arrive within the expected time, the person who paid should start with the bank that sent it rather than Renaissance Capital LTD. Request from the sender a copy of the payment confirmation.