Nationwide and HSBC

[Finlandia]

Quick question, I'm trying to set up a payment/transfer scheme between my Swedish and UK bank accounts. When I put the IBAN and BIC codes from my Nationwide statement into the system, it is recognised as a HSBC bank, has Nationwide and HSBC merged? Or is there some other rational explanation to it?

[Chilli]

What BIC are you using for Nationwide?

Edited by Chilli on Tuesday 5th August 09:51

[Finlandia]

On my statement it says the BIC would be, MIDL GB 22

[king arthur]

Well MIDL would be Midland which is what HSBC used to be called a long time ago.

[Chilli]

Finlandia said:

On my statement it says the BIC would be, MIDL GB 22

Hmmm, well that's deffo the BIC code for HSBC. Sorry.

[Finlandia]

That's strange, it is definitely the BIC on my latest statement.
What would happen if I use the correct IBAN, including my sort code and account number, but the BIC points to HSBC instead of Nationwide?

[Simpo Two]

As I understand it, Nationwide is not a bank, therefore it has to use a clearing bank to receive payments - presumably in this case HSBC.

[Sheepy]

Simpo Two said:

As I understand it, Nationwide is not a bank, therefore it has to use a clearing bank to receive payments - presumably in this case HSBC.

Simpo has it correct. For international transfers,it must go though a clearing bank. A lot of non-clearing banks use HSBC (ie Midland). I had this same confusion years ago transferring money from the US to Abbey National

[Finlandia]

Thanks guys, I knew I could trust the PH massive