Tesco PLC SWIFT/BIC code

TSCOGB2L – the SWIFT/BIC code of Tesco PLC

TSCOGB2L and TSCOGB2LXXX are two spellings of the same bank identifier, and both lead to Tesco PLC in Cheshunt. A SWIFT code tells the banks handling a payment which institution should receive the money, a bit like a postal address for banks. In daily life you mostly come across the code on international invoices, in payment forms and in the bank details of Tesco PLC customers.

We wrote this page to help people who sends money to an account at Tesco PLC and wants to get the details right. Keep in mind that the BIC just identifies the bank, not the account: the account number or IBAN takes care of that.

How long does an international transfer to Tesco PLC take?

A SWIFT payment usually needs one to a few business days – it depends on currency, route and the banks in between. Transfers sent late in the day or just before a weekend or public holiday often start the next business day. Compliance checks by one of the banks may also cause a delay.

If the money is late, contact your bank for the tracking status; with that reference banks can see where the payment is. 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 person who paid needs to contact the bank that sent it. Request from the sender a copy of the payment confirmation.

Do you need TSCOGB2L for a SEPA transfer?

United Kingdom is a member of the SEPA area. For a standard euro transfer from another SEPA country, you normally only need the IBAN and the BIC is often filled in automatically.

Outside the euro and from non-SEPA countries, TSCOGB2LXXX or TSCOGB2L remains part of the payment details. If your banking app asks for the BIC anyway, adding TSCOGB2L is fine.

Instant payments in euros are widely supported across SEPA. Fees for SEPA payments tend to be low.

Where our SWIFT data comes from

We gather SWIFT/BIC codes using publicly available data and update them regularly. Even so, banks merge or change codes. Counts and locations are from our own dataset.

For a payment that matters, always confirm the code with the recipient’s bank or the recipient. We are an independent comparison service and not part of Tesco PLC. Should you notice a mistake, we welcome a message via the contact page.

International transfers from Tesco PLC: the real cost

What you pay for a payment abroad has more than one component, and the transfer fee is only the most visible one. Besides a fixed fee, correspondent or intermediary banks may deduct a fee, and when the money changes currency the bank usually applies a rate that is less favourable than the actual market rate.

Banks do not list the margin on the rate separately, but you pay it all the same. A simple test: put the bank’s rate against the mid-market rate and look at the difference.

Specialised transfer providers frequently use a rate near the mid-market rate and lower fees. Before your next transfer, take a minute comparing the total cost via GoldexPay rather than accepting the bank’s rate by default. You can always keep your account at Tesco PLC to fund the transfer.

TSCOGB2L or TSCOGB2LXXX – which one to use?

The structure of every SWIFT code never changes: four characters for the institution, two for the country and two for the location, sometimes followed by a branch code. For Tesco PLC, that core is TSCOGB2L.

Many payment forms work with either length. If a form asks for eleven characters, enter TSCOGB2LXXX, otherwise TSCOGB2L is fine.

In practice the code is written in capitals. Look out for the letter O and the digit 0 and the letter I and the digit 1.

Which of the 2 codes of Tesco PLC do you need?

Our database contains 2 SWIFT/BIC codes for Tesco PLC. Besides the head office code TSCOGB2LXXX, you will find codes for regional offices and specialised units.

Usually there is no need to pick a branch: transfers sent to TSCOGB2LXXX reach Tesco PLC without problems. If you have been given a specific code, stick to it instead of swapping 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 for branches are more prone to be retired than the head office code when a bank merges or closes offices.

Receiving money from abroad at Tesco PLC

Someone abroad who wants to pay you needs a few details from you, and missing ones are a common cause of delays. Give them the account holder’s name, the IBAN or account number, SWIFT code TSCOGB2LXXX and your address, which some banks require.

Their bank might also ask for the bank address of Tesco PLC. A typo in your account number is harder to fix than you might think.

Expect that the incoming amount is smaller than the amount on the sender’s receipt. Intermediary banks may deduct a fee, Tesco PLC may charge for incoming payments, and when currencies differ, an exchange rate margin applies. Make clear with the sender who pays which costs.

The British Pound and what conversion costs you

Most accounts at Tesco PLC are usually held in GBP, the national currency of United Kingdom. When you pay money in a different currency it has to be converted at some point – by your bank, by Tesco PLC or by a bank in between. Every conversion costs the amount, even when no fee is shown.

Who does the conversion has an effect on the final amount, as rates and margins differ per bank. In many cases you pay less to send GBP straight away via a provider with a good rate rather than letting the receiving bank convert.

The GBP rate changes constantly. With bigger transfers, a small difference in the rate adds up quickly.

Scams that use SWIFT codes

A common scam works like this: you receive a request saying that a contact has new bank details. The fact that TSCOGB2L exists does not mean that the account is genuine; criminals use the codes of real banks too.

Always verify a change of bank details through a phone call. Pressure and secrecy are warning signs; a genuine business can wait for you to check. If money was sent to the wrong account, call your bank right away – speed improves the chance of getting it back.

People receiving money are targeted too: one known trick is an overpayment followed by a request to refund the difference to another account. Wait until the money has really arrived – ask Tesco PLC if something looks wrong.

Is TSCOGB2L still correct? How to check

Ask the recipient to copy their bank details directly from a recent statement. When the code you were given differs from TSCOGB2L or TSCOGB2LXXX, stop and ask: check with the recipient or with Tesco PLC directly.

Errors in the BIC tend to be annoying rather than disastrous: often the payment comes back, minus fees. A mistake in the IBAN or account number can be a bigger problem.

Most online banking apps validate the format of an IBAN, but that does not prove the account belongs to the right person. Where available, a name check before sending gives extra certainty. Sending a small amount first can be worth it for large sums.