SWIFT code no longer recognised due to changes to SEPA payments?
Thread poster: Neil Coffey

Neil Coffey  Identity Verified
United Kingdom
Local time: 08:22
French to English
+ ...
Dec 27, 2013

One of my French clients has just informed me that they're having trouble making a transfer to my UK bank account because my SWIFT code is no longer recognised by their bank due to recent changes to the system for SEPA payments. (But according to my bank there is no change to my SWIFT code, of course.) Has anybody else come across this and found a solution?

[Edited at 2013-12-27 18:25 GMT]


 

Teresa Borges
Portugal
Local time: 08:22
Member (2007)
English to Portuguese
+ ...
The same happened to me Dec 27, 2013

regarding a payment to an UK account, but at the same time another SWIFT code was proposed and used. As far as I know, the amount was received...

 

Gerard de Noord  Identity Verified
France
Local time: 09:22
Member (2003)
German to Dutch
+ ...
IBAN and BIC Dec 27, 2013

For SEPA payments you'll have to provide an International Bank Account Number (IBAN) and a Business Identifier Code (BIC). Your bank can give you those but they are probably already mentioned on your bank statements.

Cheers,
Gerard

[Edited at 2013-12-27 19:51 GMT]


 

Neil Coffey  Identity Verified
United Kingdom
Local time: 08:22
French to English
+ ...
TOPIC STARTER
BIC supplied by bank Dec 27, 2013

Gerard de Noord wrote:
For SEPA payments you'll have to provide an International Bank Account Number (IBAN) and a Business Identifier Code (BIC). Your bank can give you those but they are probably already mentioned on your bank statements.


Hi Gerard,

This is precisely what I'm doing-- supplying the IBAN and BIC from my bank statements, which have not changed. The issue is that all of a sudden, the client's bank system has apparently decided to no longer recognise the BIC code as though a different one is now required, but as I say, as far as my bank is concerned, nothing appears to have changed...


 

RobinB  Identity Verified
United States
Local time: 02:22
German to English
SWIFT code = BIC Dec 27, 2013

Neil Coffey wrote:
One of my French clients has just informed me that they're having trouble making a transfer to my UK bank account because my SWIFT code is no longer recognised by their bank due to recent changes to the system for SEPA payments. (But according to my bank there is no change to my SWIFT code, of course.) Has anybody else come across this and found a solution?

[Edited at 2013-12-27 18:25 GMT]


If the payments are denominated in euros, then your UK bank will be able to tell you the IBAN for your account that you will then have to tell your client. The BIC code should be exactly the same as the SWIFT code.

If the payments are not denominated in euros (e.g. in GBP), then the old rules apply, i.e. you will have to tell your French client your UK bank a/c number, the sort code, and the SWIFT code.

Evidently quite a lot of people in the eurozone think that the SEPA rules will apply to all payments in the EU (some even want IBANs from US suppliers!). That would be too easy...


 

Gerard de Noord  Identity Verified
France
Local time: 09:22
Member (2003)
German to Dutch
+ ...
Is your bank mentioned here? Dec 27, 2013

Is your bank mentioned on this website?
http://www.theswiftcodes.com/united-kingdom/
Some banks use the approaching introduction of BIC codes to add e.g. location and branch codes to their former SWIFT code.

Good luck and let's pray SEPA will be a success,
Gerard


 

XXXphxxx  Identity Verified
United Kingdom
Local time: 08:22
Portuguese to English
+ ...
Same here Dec 27, 2013

I've had the same problem. I can no longer transfer funds from my French bank account to my account at Coop, although no probs with my a/c at Lloyds. The smaller UK banks are not SEPA-ready and completely clueless if you ring them and try and find out more. There were changes that took place in November this year and I've had problems since the beginning of Dec. I don't think there's any workaround other than patience, or in your case, offering your client another set of bank details. I've also heard of issues with Abbey. The only way is sticking with one of the large high street banks for the time being.

 


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SWIFT code no longer recognised due to changes to SEPA payments?

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