Payments to old sort codes will be automatically transferred for three years. Barclays told us that between 800,000 and 900,000 accounts will be affected, and the changes will only apply to sort codes, not account numbers. Standing orders will be changed to the new sort codes. They added: "For most of our personal and business customers impacted, the process is automated and we will automatically update any regular payments like standing orders and direct debits.”. Serves 60+ currencies, 80+ countries, and over 8 million customers. Comments are subject to our community guidelines, which can be viewed, Most people affected are customers of the five largest UK banks, including HSBC and Barclays, HSBC's documentation explaining the sort code changes, The bank advises customers to give anyone they receive payments from their new account details, Customers who don't give their new sort code to their employer could risk not being paid on time, Independent Press Standards Organisation (IPSO). For further details of our complaints policy and to make a complaint please click here. We are not liable for any errors or omissions in our information. A spokesperson said: "Customers impacted will be informed ahead of time and there will be no interruption to their banking.". The Financial Conduct Authority, the City regulator, is telling customers of all banks to be wary of banking and online fraud, as banks make the changes necessary to comply with the rules. Also, sort codes for Northern Ireland branches of banks registered in both Northern Ireland and the Republic, are valid, and recognised for use in the Republic. It has about 30m in total. Sort codes are six digit numbers which identify both the bank and the branch where an account is held. Cookie Policy. (1) is where you’ll find the 6-digit sort code, (2) is your account number. Using data that is updated weekly, this online resource checks if the sort code a payment is being sent to is able to receive Faster Payments, Bacs Direct Credits and CHAPS payments. Random Acts of Kindness and All things Positive! Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Sort codes, in the British and Irish banking industries, are bank codes used to route money transfers between banks within their respective countries via their respective clearance organisations. Other Reclaiming: Mortgage Fees, Council Tax etc, Pensions, Annuities & Retirement Planning, Report Holiday Deals, Bargains & Special Offers, Martin's Blogs & Appearances & MoneySavingExpert in the News. The changes to sort codes began over the past month as Barclays rejigs its business ahead of the introduction of rules that require banks to ringfence their high street operations from riskier activities. Barclays is not alone in needing to issue new sort codes, which signify the branch associated with the account. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. If you are making an important payment, which is time critical, we recommend that you speak to your bank first to confirm the services that are offer to you.Individual sort codes are allocated by members of the UK payment schemes (Bacs, CHAPS, Faster Payments and Cheque and Credit Clearing) to those financial institutions that participate in one or more of the Schemes. HSBC announced last week that it had moved 170,000 accounts, with the rest to be completed by the end of next month. But HSBC has advised the "small proportion" of its customers that will get a new sort code to tell their employer about their new details to ensure that payments aren't delayed. Apparently the sort code will change, a new card will be issued, the account number will stay the same and payments will be automatically redirected for 36 months. Banks, including HSBC, say that customers don't have to do anything and their old sort codes will continue to work for three years after they receive the new one - meaning that all incoming and outgoing payments will be redirected to ensure payments reach the right account. Although sort codes in both countries have the same format, they are regulated by different authorities as each country has its own banking system. On your Barclays debit card – they’re usually on the front under your name (see the graphic below). Gives you a great exchange rate and a low, upfront fee every time. THERE has been confusion over the new sort code changes that are currently underway, with some banks telling customers to update their employers with their new code or risk delayed payments. Barclays said it would change people's sort codes "in batches" and will start in the second half of the year. Click on the sort-code number link in the table below to navigate to it and see all the information about it (address, telephone number, zip code, etc.). We often link to other websites, but we can't be responsible for their content. In some cases, the first digit of the sort code identifies the bank itself and in other cases the first 2 digits identify the bank. Barclays said it would change people's sort codes "in batches" and will start in the second half of the year. In some cases, the first digit of the sort code identifies the bank itself and in other cases the first 2 digits identify the bank. Editor, Marcus Herbert, However Any Opinion Given On MSE Is Strictly My Own. https://www.home.barclays/about-barclays/ring-fencing-explained/ring-fencing-personal-banking.html. The Skipton Building Society sort codes are a six-digit number which identifies both the bank and the branch where the account is held and they are used to route money transfers between banks. The legislation mostly affects the UK's five biggest banks, and doesn't impact building societies - such as Nationwide - or banks with less than £25 billion of deposits. In Ireland, a sort code is known as the NSC or National Sort Code and is regulated by IPSO (Irish Payment Services Organisation). Sort Code Bank Branch City 101: 208870 | 20-88-70: Barclays Bank Plc: Account Centre West: Cardiff: 102: 208856 | 20-88-56: Barclays Bank Plc: Account Centre East: Borehamwood: 103: 208840 | 20-88-40: Barclays Bank Plc: Account Centre North: Leeds: 104: 208813 | 20-88-13: Barclays Bank Plc: Tunbridge Wells: Leicester: 105: 208798 | 20-87-98: Barclays Bank Plc: Trust Company: Glasgow: 106 Retail customers of Santander, Lloyds Bank, Halifax and Bank of Scotland won't be affected by the change. To comply with the ringfencing rules, HSBC is setting up a new head office in Birmingham and trying to encourage staff to move there by offering cash bonuses of up to £2,500 if employees can convince a colleague to relocate from London, where the head office for its global operations is based in Canary Wharf. 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