ING Financial Markets LLC SWIFT/BIC code

ING Financial Markets LLC SWIFT code: INGBUS3N

INGBUS3N and INGBUS3NXXX are the short and the long form of the same bank identifier, and both lead to ING Financial Markets LLC in New York,ny. A BIC has a single purpose: it makes sure that money from abroad ends up at the right bank. It comes up mostly when dealing with transfers between countries.

On this page you will find what the code means, when you need it and what else a transfer to or from ING Financial Markets LLC requires. The BIC names an institution, not a single account; the IBAN or account number does that.

Scams that use SWIFT codes

Scammers regularly use payment requests containing changed bank details, sometimes in an email that looks completely genuine. A correct SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Never trust contact details in the same message that contains the new account. Watch out for time pressure, odd spelling or a sender address that is slightly off. When a payment was sent to the wrong account, contact your bank immediately – speed improves the chance of getting it back.

People receiving money are targeted too: a classic trick is an overpayment followed by a request to refund the difference to another account. A payment confirmation from the sender is no proof; only your own account shows what has arrived.

What a transfer from ING Financial Markets LLC abroad really costs

A bank transfer abroad can cost more than the fee suggests. Besides a fixed fee, banks in between may take a cut, and if currencies are converted the bank usually uses a rate that is less favourable than the actual market rate.

Most of the cost usually sits in the exchange rate: the bank converts using an exchange rate with a margin built in. An easy check: set the rate you get against the mid-market rate for the same moment and work out the difference on your amount.

Specialised transfer providers frequently offer a rate near the mid-market rate and lower fees. On GoldexPay we compare the amount that arrives across services, so you can pick the cheapest route. Using a transfer service does not mean closing your account at ING Financial Markets LLC: you simply pay the service from your account.

US Dollar (USD) and conversion costs

United States pays in the US Dollar, with the currency code USD. Money sent in a different currency will be exchanged into USD before it reaches the account, and whoever converts it chooses the rate. Every conversion eats into something, even when no fee is shown.

Where the conversion happens affects how much arrives. Sending the money directly in USD usually avoids an extra conversion at the receiving end – as long as your own rate is good.

Exchange rates move all the time – some services let you fix a rate in advance. For regular payments, small differences in the rate add up over a year.

8 or 11 characters: INGBUS3N versus INGBUS3NXXX

The layout of a BIC never changes: four characters for the institution, two for the country and two for the location, sometimes followed by a branch code. That gives you INGBUS3N, the short form of the code.

The 11-character version has a three-character extension that identify a branch or department. If the last three are XXX, they simply mean the head office, so INGBUS3NXXX and INGBUS3N are interchangeable.

In practice the code is typed in capitals, without spaces or dashes. Pasting the code beats typing it by hand: a typo can point to another bank.

How to check INGBUS3N before you pay

The most reliable source for the BIC is the recipient’s own bank details: an invoice, a bank statement or their online banking. If the code you have does not match INGBUS3N or INGBUS3NXXX, stop and ask: check with the recipient or with ING Financial Markets LLC directly.

A wrong SWIFT code can cause delays, a returned payment or extra fees. Do not forget the account number: a mistake there can be more difficult to undo than a wrong code.

A format check by your bank merely confirms that the IBAN is valid, not that it is the right account. More and more banks compare the payee name with the account – do not ignore a mismatch warning. A small test payment can be worth it for large sums.

What to give a sender who pays you at ING Financial Markets LLC

If you are waiting for money from abroad, give the sender all details at once. That means: your full name exactly as it appears on the account, your account number or IBAN, the SWIFT/BIC code INGBUS3NXXX and, often, your address.

The sender’s bank might also ask for the address of your bank; the head office in New York,ny is usually fine. A mistake in your account number can be harder to fix than you might think; copy them from your banking app rather than typing.

Do not be surprised if the incoming amount is below the amount on the sender’s receipt. Correspondent banks can take a fee, and if the currency changes, an exchange rate margin applies. Make clear with the sender who pays which costs.

A note on our data

We collect bank codes using publicly available data and check them from time to time. Banks reorganise, close branches and change codes. The figures we show reflect our own data and not on information from ING Financial Markets LLC itself.

For any payment that matters, confirm the code with the recipient’s bank or with the recipient. GoldexPay is independent of ING Financial Markets LLC; we are a comparison site for money transfers. Should you notice a mistake, we welcome a short note via the contact page.

ING Financial Markets LLC: head office code versus branch codes

ING Financial Markets LLC has 3 separate SWIFT/BIC codes across 1 locations. One of them is the head office code, INGBUS3NXXX; the others identify branches or departments, and sometimes specific services.

In most cases you do not need to pick a branch: payments sent to INGBUS3NXXX reach ING Financial Markets LLC without problems. When you receive a specific code, use it as it is rather than swapping it for the head office code.

Unsure which code applies? Ask the recipient, or look at a recent statement from ING Financial Markets LLC. Codes are sometimes changed or retired when banks reorganise, so a code from an old document is not always valid.

Transfer times and tracking a payment to ING Financial Markets LLC

A SWIFT payment typically needs one to a few business days – it depends on currency, route and the banks in between. Bank holidays in the sending or receiving country can add a day or more. Extra checks by one of the banks can also add some delay, even when all details are correct.

When a payment takes longer than expected, contact the sending bank for the status; with that reference banks can see where the payment is. Keep your transfer receipt – you will need it for any trace request.

A missing payment has to be traced by the sending bank, using the payment confirmation. Request from the sender the payment receipt including the reference – it helps your own bank look for the money.