Schroder Investment Management Limited SWIFT/BIC code

SWIFT/BIC code of Schroder Investment Management Limited

The short code SIMLGB2L and the 11-character code SIMLGB2LXXX identify one and the same institution: Schroder Investment Management Limited. A SWIFT code shows the banks handling a payment exactly which bank is meant to get the money. In practice you mostly come across the code on international invoices, in your banking app and in the bank details of Schroder Investment Management Limited customers.

We wrote this page to help anyone who receives money at an account at Schroder Investment Management Limited and wants to get the details right. The SWIFT code alone does not identify an individual account holder; for that you need the account number or IBAN .

Why Schroder Investment Management Limited has an 8- and an 11-character code

The layout of a BIC never changes: a bank code of four letters, a two-letter country code and a two-character location code, sometimes followed by a branch code. In this case, the 8-character core is SIMLGB2L.

The full version adds three more characters for a branch or department. If the last three are XXX, the code points to the head office.

Type the code in one piece, in upper case and without spaces. A single letter can send a payment to another bank.

The British Pound and what conversion costs you

Most accounts at Schroder Investment Management Limited are typically held in GBP, the national currency. A payment in a foreign currency will be converted into GBP before it reaches the account. Each conversion costs the amount.

Which bank converts the payment matters, because each party uses its own rate. Compare what GBP arrives via different services.

Exchange rates move during the day. With bigger transfers, a small gap in the rate can be worth more than the fee.

Which of the 2 codes of Schroder Investment Management Limited do you need?

Our database contains 2 SWIFT/BIC codes for Schroder Investment Management Limited, spread over 1 locations. Besides the head office code SIMLGB2LXXX, there are codes for regional offices and specialised units.

For most payments to a private or business account, the head office code SIMLGB2LXXX works fine. Only use a branch code when the recipient gives you that exact code.

The safest route is to copy the code straight from the account holder’s statement. Branch codes are more likely to be retired than SIMLGB2LXXX.

Tracking a transfer to or from Schroder Investment Management Limited

How quickly a payment reaches Schroder Investment Management Limited depends on several factors: the currency, how many intermediary banks are involved, cut-off times and time zones. Weekends and public holidays in either country add extra days, since banks do not process on those days. Compliance checks on larger or unusual payments can also add a delay, even when all details are correct.

When a payment takes longer than expected, ask your bank about the tracking status. Specialist transfer services usually provide a status online showing where the money is.

Only the sending bank is able to request a trace or a recall; the receiving side usually has nothing to trace yet. As a recipient, it helps to check your statements to see a slightly lower amount.

What to give a sender who pays you at Schroder Investment Management Limited

To receive an international payment at Schroder Investment Management Limited, the person paying you has to have more than the BIC. Give them your name as the bank knows it, your account number or IBAN, SWIFT code SIMLGB2LXXX and your address.

Some banks want the bank’s address, so keep it at hand. A mistake 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. Intermediary banks may deduct a fee, Schroder Investment Management Limited may charge for incoming payments, and if the money is converted, a markup on the rate comes on top. For business payments, you can agree how the fees are split to avoid a shortfall.

International transfers from Schroder Investment Management Limited: the real cost

What you pay for an international transfer is made up of more than one component – not just the fee on your screen. There is the transfer fee, sometimes fees charged by intermediary banks in between and, above all, the margin on the exchange rate when the money is converted.

Banks do not list the margin on the rate as a cost, but you pay it all the same. Compare the rate you are offered against the mid-market rate; the gap is what conversion costs you.

For many currency pairs, a specialist provider turns out to be less expensive than a bank – mostly thanks to the rate. GoldexPay lists these services side by side so you can see the amount the recipient gets. You can always keep your account at Schroder Investment Management Limited as the source of the money.

Watch out for payment fraud

Fraudsters often use fake invoices with new bank details, sometimes in an email that looks completely genuine. The fact that SIMLGB2L exists is no guarantee that the account is genuine – fraudsters use real bank codes as well.

Do not trust a phone number from the same email that contains the change. Watch out for urgent requests, unusual wording or an email address that differs by one letter. Acted too fast? Contact your bank without delay and have them try to recall the payment and report the fraud.

Recipients are targeted too: a classic trick is an overpayment followed by a request to send back the difference. Wait until the money is actually in your account and check with Schroder Investment Management Limited if anything seems off.

Before you send: check the Schroder Investment Management Limited code

Ask the recipient to copy their bank details directly from a recent statement. Check that code against SIMLGB2L here and ask if anything does not match.

A wrong SWIFT code may lead to a delay, a payment being sent back or additional charges. Do not forget the account number: a mistake there can be harder to correct than a wrong BIC.

A validity check in your banking app merely confirms that the code is valid, not that it is the right account. If your bank offers it, a name check before sending gives extra certainty. A small test payment can be worth it for large sums despite the extra fee.

A note on our data

The details here come from publicly available data which we refresh regularly. Banks merge, close branches and retire codes – a directory can be a step behind. Figures such as the number of codes come from our own dataset.

Treat our data as a reference, rather than as the last word – the bank details from the recipient are leading. We are an independent comparison service and not affiliated with Schroder Investment Management Limited. If you notice a mistake, we appreciate a short note via the contact page.

SEPA payments and the Schroder Investment Management Limited BIC

Since United Kingdom is in the SEPA zone, a euro transfer into Schroder Investment Management Limited from within the SEPA area normally requires just an IBAN. Most banking apps do not require the BIC for these payments or fill it in for you.

Outside the euro and from non-SEPA countries, SIMLGB2LXXX remains part of the payment details. If a payment form asks for the BIC anyway, entering SIMLGB2L is fine.

Instant euro transfers have become widely supported across SEPA; check with Schroder Investment Management Limited whether it applies to your account. Provided no currency is converted, a SEPA transfer is inexpensive.