Merrill Lynch, Pierce, Fenner and Smith Incorporated SWIFT/BIC code

MLPFUS31 – the SWIFT/BIC code of Merrill Lynch, Pierce, Fenner and Smith Incorporated

Whether you are given MLPFUS31 or MLPFUS31XXX, it is the identical identifier for Merrill Lynch, Pierce, Fenner and Smith Incorporated in United States. A BIC has a single purpose: it ensures that money from abroad ends up at the right bank. It comes up mostly when dealing with transfers between countries and payments in foreign currencies.

This page is meant to help people who pays into an account at Merrill Lynch, Pierce, Fenner and Smith Incorporated and wants to get the details right. A SWIFT code names a bank or branch, never a specific account.

Paying into Merrill Lynch, Pierce, Fenner and Smith Incorporated in USD

United States uses the US Dollar. A payment in a foreign currency will be exchanged into USD on its way to Merrill Lynch, Pierce, Fenner and Smith Incorporated, and whoever converts it chooses the rate. You rarely see a separate line for the conversion; it is built into the rate.

Where the conversion happens affects how much arrives, as rates and margins differ per bank. Transferring the money already in USD usually avoids a second conversion at the receiving end, provided the rate you get is fair.

The USD rate changes constantly. With bigger transfers, even seemingly small gap in the rate adds up quickly.

International transfers from Merrill Lynch, Pierce, Fenner and Smith Incorporated: the real cost

When you send money to another country through Merrill Lynch, Pierce, Fenner and Smith Incorporated, the visible fee is only part of what you pay. You pay the transfer fee, sometimes fees charged by intermediary banks in between and, most importantly, the margin on the exchange rate if the currency changes.

Banks do not list the margin on the rate as a cost – you only notice it if you compare. A simple test: set the rate you get against the mid-market rate and work out the difference on your amount.

For a lot of routes, a specialist provider is less expensive than a traditional bank transfer – mostly thanks to the rate. On GoldexPay you can compare the amount that arrives with different services. Choosing a specialist does not mean leaving Merrill Lynch, Pierce, Fenner and Smith Incorporated.

Tracking a transfer to or from Merrill Lynch, Pierce, Fenner and Smith Incorporated

An international transfer usually takes one to a few business days. Bank holidays in the sending or receiving country can add extra days, since banks do not process on those days. Extra checks on larger or unusual payments may also cause a delay.

When a payment takes longer than expected, ask your bank about the status and the transaction reference so they can trace it along the chain. Specialist transfer services often show tracking online so you can see where the money is.

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

Merrill Lynch, Pierce, Fenner and Smith Incorporated: head office code versus branch codes

Our database contains 9 SWIFT/BIC codes for Merrill Lynch, Pierce, Fenner and Smith Incorporated, spread over 4 locations. Besides the head office code MLPFUS31XXX, you will find codes for individual branches and departments.

If nobody asks you for a branch code, use MLPFUS31XXX or its short form MLPFUS31. When you receive a specific code, stick to it instead of replacing it for the head office code.

If you are not sure, check with the recipient which code their bank gave them. Codes can change over time, so a code from an old document is not always valid.

About this information

We gather SWIFT/BIC codes from public sources and update them from time to time. It can happen that a code on this page is no longer current after a merger or reorganisation. The figures we show are based on what is in our directory and not on information from Merrill Lynch, Pierce, Fenner and Smith Incorporated itself.

See the information here as a handy check and rely on the recipient or Merrill Lynch, Pierce, Fenner and Smith Incorporated for the final confirmation. We are a comparison site for money transfers and not affiliated with Merrill Lynch, Pierce, Fenner and Smith Incorporated. Should you notice a mistake, we appreciate a message.

Incoming international payments to Merrill Lynch, Pierce, Fenner and Smith Incorporated

Someone abroad who wants to pay you needs a few details about your account. What they need is: your name, IBAN or account number, MLPFUS31XXX or MLPFUS31 and in many cases your postal address.

Their bank might also ask for the address of your bank, in which case the New York,ny head office is the usual answer. A mistake in the IBAN can be harder to fix than you might think.

The amount you receive is often lower than the amount sent. Charges on incoming payments vary from bank to bank; check the price list of Merrill Lynch, Pierce, Fenner and Smith Incorporated. Agree with the sender who covers the fees, especially for larger amounts.

Why Merrill Lynch, Pierce, Fenner and Smith Incorporated has an 8- and an 11-character code

The structure of every SWIFT code never changes: a bank code of four letters, two for the country and a two-character location code, plus an optional branch code. Together, those parts make up MLPFUS31.

XXX at the end of MLPFUS31XXX is not a missing value or a mistake: it indicates the main office of Merrill Lynch, Pierce, Fenner and Smith Incorporated. Some banking apps ask for 11 characters, and then you can add XXX after MLPFUS31.

Leave out spaces when you type MLPFUS31. Look out for O versus 0 or I versus 1.

Watch out for payment fraud

Be alert when a contact unexpectedly asks you to send money to another account abroad. A valid SWIFT code tells you nothing about whether the request is genuine – scammers simply use real codes.

Do not trust a phone number from the same email that contains the change. Be suspicious of urgent requests, odd spelling or an email address that differs by one letter. When a payment has already gone to the wrong account, call your bank right away: the sooner they act, the better the chance of a recall.

Scams also work the other way: someone sends too much and wants you to refund the extra via a different route. Do not act before the money is actually in your account.

How to check MLPFUS31 before you pay

Have the recipient send you the bank details straight from their banking app. Compare it against MLPFUS31 on this page.

Errors in the BIC are annoying more than fatal – usually the money comes back, minus fees and time lost. Do not forget the account number: an error there is harder to undo than a wrong BIC.

An automatic check by your bank only tells you that the code exists. Some banks now check the name with the account before you confirm; take any warning seriously. For a first payment, some people send a small test amount and wait for confirmation.