Shaw and Co. SWIFT/BIC code

SHCLGBB1 – the SWIFT/BIC code of Shaw and Co.

SHCLGBB1 and SHCLGBB1XXX are the short and the long form of the same SWIFT/BIC code, and both point to Shaw and Co. in Knowle. The code has a single purpose: it makes sure that money from abroad reaches the right bank. It comes up mainly when dealing with transfers between countries and payments in foreign currencies.

Below you will find the practical questions: money coming in from abroad, sending money abroad and how to verify the code before you confirm a payment. The SWIFT code on its own cannot identify a personal account; for that you need the IBAN or account number is for.

Changed bank details? Be careful

Fraudsters regularly send fake invoices containing changed bank details sent from what looks like a familiar address. A real SWIFT code says nothing about whether the request is genuine.

Check new payment details through a separate channel, such as a phone number you already know. Pressure or secrecy are red flags – a real supplier can wait a day. Already paid? Call the bank you paid from straight away and ask them to start a recall.

Recipients can be targeted as well: a classic trick is a buyer who pays too much followed by a request to send back the difference to another account. A payment confirmation from the sender is no proof.

Where our SWIFT data comes from

We collect SWIFT/BIC codes using public sources 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 It can happen that information here is no longer current after a merger or reorganisation.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 we show reflect our own data and not on information from Shaw and Co. itself.

Use our data as a reference, rather than as the final word. We are an independent comparison site and not part of Shaw and Co.. Should you notice something that is out of date, we appreciate a short note.

Transfer times and tracking a payment to Shaw and Co.

There is no fixed delivery time for every transfer: many arrive within a day while others need several business days. Bank holidays in either country can add a day or more, since banks do not process on those days. Compliance checks on larger or unusual payments can also add some 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. Keep your transfer receipt; it contains the details a bank needs to start a trace.

If the money does not arrive within the expected time, the sender needs to contact the bank that sent it rather than Shaw and Co.. Request from the sender the payment receipt with the date and reference; that often settles the question quickly.

8 or 11 characters: SHCLGBB1 versus SHCLGBB1XXX

The structure of every SWIFT code never changes: four characters for the institution, a two-letter country code and two for the location, sometimes followed by a branch code. For Shaw and Co., that core is SHCLGBB1.

The full version adds a three-character extension for a branch or department. When those three characters are XXX, they simply mean the head office, so SHCLGBB1XXX and SHCLGBB1 are interchangeable.

As a rule the code is typed in capitals and without spaces. A wrong letter may route the money to another bank, so check it twice.

What to give a sender who pays you at Shaw and Co.

If you expect a payment from another country, give the sender a complete set of details. Share the account holder’s name, your account number or IBAN, SWIFT code SHCLGBB1XXX and your address.

Their bank may request the address of your bank, in which case the Knowle head office is the usual answer. A mistake in your account number is harder to fix than you might think.

Expect that the incoming amount is smaller than what the sender paid. Fees for incoming transfers vary per bank; check the price list of Shaw and Co.. On invoices, it is common to agree how the fees are split, so that nobody is left short.

Do you need SHCLGBB1 for a SEPA transfer?

Because United Kingdom is in SEPA, a euro payment into Shaw and Co. from another SEPA country usually only needs the IBAN. Most banking apps do not require 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. Some forms still show a field for the BIC out of habit; in that case, fill in SHCLGBB1.

Euro payments within SEPA normally land by the next business day; instant payments are faster if both banks offer them. Fees for SEPA payments are generally low.

International transfers from Shaw and Co.: the real cost

An international bank payment costs rather more than the listed fee. You pay the fee for the transfer itself, possibly charges from correspondent banks along the way and, most importantly, the exchange rate markup.

Banks do not list the margin on the rate as a cost. Check the rate you are offered with the mid-market rate.

Specialised transfer providers frequently use rates closer to the mid-market rate and lower fees. GoldexPay lists these services next to each other so you can see the amount the recipient gets. Choosing a specialist does not require closing your account at Shaw and Co..

Sending GBP to Shaw and Co.

The national currency in United Kingdom is the British Pound (GBP). When you pay money in a different currency has to be converted at some point – by your bank, by Shaw and Co. or by a bank in between. You rarely see a separate charge for the conversion – the cost sits in the rate.

Who does the conversion has an effect on how much arrives. Sending the amount directly in GBP often prevents an extra conversion at the receiving end – as long as your own rate is good.

The GBP rate fluctuates throughout the day. For recurring payments, small differences in the rate make a real difference over a year.

Is SHCLGBB1 still correct? How to check

The safest source for the BIC is the bank details provided by the recipient. Compare it with SHCLGBB1 on this page and ask if anything does not match.

Mistakes in the BIC are costly rather than disastrous – usually the money comes back, minus fees and time lost. Remember the IBAN: an error there is more difficult to undo than a wrong code.

Many banking apps validate the format of an IBAN – that confirms the format, not the owner. Where available, a payee name check on the recipient gives an extra layer of safety. When you pay someone new, many people start with a small amount first and wait for confirmation.

Head office or branch code at Shaw and Co.?

Shaw and Co. has 2 different SWIFT/BIC codes. Only one is the head office code; the rest identify branches or departments.

For most payments to a private or business account, the head office code SHCLGBB1XXX is the right choice. Branch codes are only needed if the recipient’s bank explicitly asks for it, which is more common for corporate accounts and specialised services.

When in doubt, check with the recipient for the exact BIC in their bank details. Branch codes are more likely to be retired than the head office code when a bank merges or closes offices.