Receiving overseas funds

1socrates1

In the next few months I am to receive funds from overseas. A while back my brach closed and I never bothered to check for an update until today. My latest online statement provides the new branch information but the bic / swift code is still the old one. I then dealt with a person online and he said thst I could use the old bic code. Does this make sense ? 

eskbanker

If this relates to a future transaction, do you have the option of updating the data with the sender?

1socrates1

Am I able to use the old bic code or not? 

wmb194

1socrates1 said:

Am I able to use the old bic code or not? 

Yes, probably. Accounts aren't tied to branches in the way that they were and anyway many banks only have one BIC (Business Identifier Code).

Which bank? You can usually look in internet banking or in the app to find your account's IBAN and BIC or otherwise look on its website or Google for the BIC(s) associated with the bank.

1socrates1

wmb194 said:

1socrates1 said:

Am I able to use the old bic code or not? 

Yes, probably. Accounts aren't tied to branches in the way that they were and anyway many banks only have one BIC (Business Identifier Code).

Which bank? You can usually look in internet banking or in the app to find your account's IBAN and BIC or otherwise look on its website or Google for the BIC(s) associated with the bank.

I did look it up using the app. I went into my online statements. It showed the old bic code and at the bottom of the statement gave the address of the new branch. This is HSBC by the way. 

HobgoblinBT

Many banks that are closing branches retain accounts on the old sort code and account number.  Therefore the BIC and Iban remain unchanged.  

1socrates1

HobgoblinBT said:

Many banks that are closing branches retain accounts on the old sort code and account number.  Therefore the BIC and Iban remain unchanged.  

Thank you 

wmb194

1socrates1 said:

wmb194 said:

1socrates1 said:

Am I able to use the old bic code or not? 

Yes, probably. Accounts aren't tied to branches in the way that they were and anyway many banks only have one BIC (Business Identifier Code).

Which bank? You can usually look in internet banking or in the app to find your account's IBAN and BIC or otherwise look on its website or Google for the BIC(s) associated with the bank.

I did look it up using the app. I went into my online statements. It showed the old bic code and at the bottom of the statement gave the address of the new branch. This is HSBC by the way. 

Right, so that will be it.