Boston Private Bank and Trust Company SWIFT/BIC code

SWIFT/BIC code of Boston Private Bank and Trust Company

The short code BPTCUS31 and the 11-character code BPTCUS31XXX identify one and the same institution: Boston Private Bank and Trust Company, with its head office in Boston,ma. The code has a single purpose: it ensures that a cross-border transfer reaches the right bank. It comes up mainly when dealing with payments that cross a border or a currency.

Below we go through the practical side: money coming in from abroad, sending money abroad and how to verify the code before you confirm a payment. The BIC identifies an institution, not a single account, which is why you always need the account number too.

Receiving money from abroad at Boston Private Bank and Trust Company

Someone abroad who wants to pay you needs several details about your account. What they need is: your name, IBAN or account number, BPTCUS31XXX and, for some countries, your home address.

Their bank may request the address of your bank; the head office in Boston,ma is usually fine. A mistake in the IBAN is harder to fix than you might think.

Money from abroad does not always arrive in full. Charges on incoming payments vary per bank; check the price list of Boston Private Bank and Trust Company. Make clear with the sender who covers the fees.

Before you send: check the Boston Private Bank and Trust Company code

The most reliable place for the right code remains a document from the bank itself, such as a statement or the account details in online banking. When the code you were given does not match BPTCUS31 or BPTCUS31XXX, do not guess – contact the recipient or Boston Private Bank and Trust Company.

If the code is wrong, the payment might get stuck, be returned or end up costing more. Remember the account number: an error there can be more difficult to undo than a wrong code.

An automatic check in your banking app merely tells you that the code exists – not that it belongs to the person you mean to pay. Some banks now compare the name with the account before you confirm; take any warning seriously. For a first payment, some people start with a small test amount before sending the rest.

8 or 11 characters: BPTCUS31 versus BPTCUS31XXX

The layout of every SWIFT code is always the same: a bank code of four letters, a two-letter country code and two for the location. The result is BPTCUS31, the short form of the code.

XXX at the end of BPTCUS31XXX does not stand for a missing value or an error: it stands for the main office of Boston Private Bank and Trust Company. Certain payment forms ask for 11 characters, and then you can enter XXX after BPTCUS31.

Enter the code as one block, in capitals and without spaces. Look out for the letter O and the digit 0 and I versus 1.

US Dollar (USD) and conversion costs

United States pays in the US Dollar (USD). If you send money in a different currency it has to be converted at some point. There is rarely a separate line for that conversion.

Which bank converts the payment matters, because each party uses its own rate. Check how much USD arrives with several services; the difference between options can be larger than you expect.

The rate for USD changes constantly, so the amount you see is usually only valid for a short time. On larger amounts, even seemingly small gap in the rate can be worth more than the fee.

Paying someone abroad from your Boston Private Bank and Trust Company account

What you pay for an international transfer is made up of several parts, and the transfer fee is only the most visible one. Besides the transfer fee, correspondent or intermediary banks can deduct a fee, and if currencies are converted, the bank often uses a rate that is less favourable than the real market rate.

That exchange rate margin tends to be the largest cost, and it is easy to miss. An easy check: put the bank’s rate next to the mid-market rate for the same moment and look at the difference.

For many currency pairs, a transfer service is less expensive than a bank. Next time you send money, it is worth comparing the total cost on GoldexPay rather than accepting the bank’s rate by default. Choosing a specialist does not mean leaving Boston Private Bank and Trust Company.

Head office or branch code at Boston Private Bank and Trust Company?

Boston Private Bank and Trust Company uses 2 separate SWIFT/BIC codes across 1 locations. Only one is the head office code, BPTCUS31XXX; the rest identify branches or departments, and sometimes specific services.

For most payments to a private or business account, the head office code BPTCUS31XXX is what you need. Only use a branch code when the recipient gives you that exact code, for example on an invoice or in their bank details.

If you are not sure, check with the recipient which code their bank gave them. Codes for branches are more likely to be retired than BPTCUS31XXX when a bank merges or closes offices.

Watch out for payment fraud

Be alert if a contact unexpectedly wants you to pay into another account abroad. A correct SWIFT code tells you nothing about whether the request is genuine.

Verify changed bank details through a separate channel, such as a phone number you already know. Watch out for urgent requests, unusual wording or an email address that differs by one letter. Already paid? Contact the bank you paid from straight away and have them try to recall the payment; also report it to the police.

Scams can also work the other way. Someone sends too much and asks you to return the extra to a new account. Wait until the money has really arrived.

How long does an international transfer to Boston Private Bank and Trust Company take?

How quickly a payment reaches Boston Private Bank and Trust Company depends on a few things: the currency, the number of banks in between, cut-off times and differences in time zone. Transfers sent after the cut-off time or on weekends and holidays usually go out a business day later. Sometimes a bank asks what the payment is for, which can hold things up.

When a payment takes longer than expected, contact the sending bank about the status so they can trace it along the chain. Money transfer services usually provide tracking online so you can see where the payment is.

A missing payment has to be investigated from the sending side on the basis of the transfer details. Request from the sender the payment receipt; that often settles the question quickly.

A note on our data

The codes here are taken from publicly available data that we update regularly. Still, banks merge, rename themselves or change codes, so information can be out of date. Counts and locations are from our directory.

Use our data as a reference, rather than as the last word: the recipient’s bank details come first. GoldexPay has no connection to Boston Private Bank and Trust Company; we are a comparison site for money transfers. If you notice something that is out of date, we welcome a message via the contact page.