What’s a BSC?
BSC is an acronym sometimes used in place of the more commonly used Bank Sort Code, or just sort code. A system introduced to the UK in the 1960s, unique sort codes are used to identify specific bank and branches to make transactions faster and more reliable.
Called a sort code in the UK, the American equivalent would be the American Bankers Association number (ABA).
You’ll find your bank sort code on your bank card, any of your bank statements or in your account details within the secure area of your online bank.
How does a sort code work?
A sort code works because of the numbers it’s made up of, usually arranged in three groups of two like this: 11-22-33. Let’s break these down:
- The first two numbers identify the bank
- The last four identify a particular branch of that bank
When do you need to use a sort code?
If you’re making a payment to or from a bank in the UK internationally or domestically, you’ll always need to provide the relevant sort code.
The Clear Currency effect:
Keep it simple
You probably know a BSC better as a sort code.
You’ll always need your sort code to make or receive payments to a UK bank.
Top tips for making a money transfer
For many of us making an international payment can feel a little uneasy. Some of us have never made a payment, others have done it regularly but are you aware of all the potential pitfalls? Find out more about how you can ensure to make a currency transfer without losing out.Opinion
Years of Zero - How Zero to Negative Interest Rates Affect FX Hedging
Are you an exporter generating US Dollar revenues overseas? Have you previously considered hedging your future rates of conversion through forward contracts but decided against due to the high “give up” premium, the interest rate differential creating a significantly worse forward rate over the prevailing spot rate? Recent central bank actions through the slashing of interest rates may have helped you.Guides
GBPUSD The oldest currency pair in the world, but where next?
There were fears a month ago that sterling could fall to its lowest level against the US dollar in its 200+ year history and despite reaching the depths of 1.1450, the lowest since June 1985, it still had some way to go to reach the all-time low of 1.05.
Get In Touch
Currency exchange doesn’t have to be stressful or expensive. Our experienced and dedicated team is here to help you keep more of the money you transfer.
+44 (0) 207 151 4832