SWIFT/BIC code SIMBITM1XXX
SIMBITM1XXX belongs to Bai Sim in Milano, Italy.
Code details
| SWIFT/BIC code | SIMBITM1XXX |
|---|---|
| 8-character code | SIMBITM1 |
| Branch code | XXX |
| Bank | Bai Sim |
| Branch | Head office |
| City | Milano |
| Country | Italy |
The way the Bai Sim SWIFT/BIC works
A SWIFT/BIC code has 8 or 11 characters. Each part has a fixed meaning:
- SIMB Bank code
- 4 letters that identify the bank.
- IT Country code
- 2 letters for the country (ISO 3166).
- M1 Location code
- 2 characters for the city or region of the head office.
- XXX Branch code
- 3 characters for a specific branch. XXX means the head office.
Check before you send
- Ask the recipient which bank and branch the account is held at.
- Use the head office code (XXX) when no branch is specified.
- Make sure the country in the code matches the country of the account.
Frequently asked questions
What bank is behind SWIFT/BIC code SIMBITM1XXX?
SIMBITM1XXX identifies the head office of Bai Sim in Milano, Italy. It is the code to use when you send money to an account at Bai Sim.
What does each part of SIMBITM1XXX mean?
SIMB is the bank code of Bai Sim, IT stands for Italy, M1 is the location code and XXX means the head office.
What is the best way to send money to Bai Sim in Italy?
Many banks add 1–3% to the exchange rate on top of a fee. Check what you receive in Euro with transfer services before you send – the difference can be large.
Do I need SIMBITM1XXX for a euro transfer to Italy?
Italy is part of the SEPA area. For euro transfers the IBAN is usually enough. If you send another currency you do need SIMBITM1XXX.
How long does it take to send money to Bai Sim in Italy?
Euro transfers within SEPA usually arrive within one business day. Transfers in other currencies can take 2–4 business days.
Are SIMBITM1 and SIMBITM1XXX the same SWIFT code?
Yes. SIMBITM1 is the short version of SIMBITM1XXX. XXX simply refers to the head office, so both routes your payment to Bai Sim in Milano.
Source: listbase-org SWIFT/BIC database (MIT licence), updated monthly. Always verify the code with the recipient or their bank.