Virtu Financial Ireland Limited SWIFT/BIC code

VIFIIE21 – the SWIFT/BIC code of Virtu Financial Ireland Limited

If an invoice shows VIFIIE21 or VIFIIE21XXX, it is the same address for Virtu Financial Ireland Limited in Ireland. Banks worldwide use these codes to route international transfers to the right bank. You will need it mostly for transfers between countries and payments in foreign currencies.

Below we go through the practical side: receiving money at Virtu Financial Ireland Limited, sending money abroad and how to check the code before you confirm a payment. The SWIFT code on its own does not identify a personal account; for that you need the account number or IBAN is for.

About this information

Our SWIFT/BIC directory is compiled from publicly available sources and is updated regularly. It is possible that a code on this page is no longer current. The figures we show reflect our own data.

See the information here as a handy check, and let the details from the recipient or Virtu Financial Ireland Limited have the final say. GoldexPay is independent of Virtu Financial Ireland Limited; we are a comparison site for money transfers. If you notice something that is out of date, we appreciate a short note via the contact page.

Which of the 2 codes of Virtu Financial Ireland Limited do you need?

With 2 codes, Virtu Financial Ireland Limited belongs to the banks that use individual codes for branches and departments. The main code is VIFIIE21XXX.

If nobody asks you for a branch code, go with VIFIIE21XXX or its short form VIFIIE21. Branch codes are only needed if the recipient’s bank specifically asks for it, which is more common for business accounts and trade services.

The safest route is to copy the code directly from the recipient’s invoice. Branch codes can change when banks reorganise, so do not rely on old paperwork.

What the XXX in VIFIIE21XXX means

Each SWIFT/BIC code has an 8-character core: a four-letter bank code, a two-letter country code and a two-character location code. Combined, these eight characters make up VIFIIE21, the code most people search for.

Most payment forms work with both lengths. If a form asks for eleven characters, use VIFIIE21XXX; if it wants eight, use VIFIIE21.

Enter the code in one piece, in capitals and without spaces. Copying the code beats typing it by hand, because one wrong letter changes the bank.

Is VIFIIE21 still correct? How to check

The best place to find the correct BIC is paperwork issued by the bank, such as a statement or the account details in online banking. Check that code with VIFIIE21 here; if they differ, ask before you pay.

Mistakes in the BIC tend to be costly rather than fatal. A mistake in the account number is a bigger problem, so check that just as carefully.

An automatic check by your bank merely tells you that the IBAN is valid – not that it belongs to the person you mean to pay. Some banks now compare the payee name against the account before you confirm. A small test payment is worth it for a large first payment, even if it costs an extra fee.

Watch out for payment fraud

Be wary if a contact suddenly asks you to send money to another account. The fact that VIFIIE21 exists is no guarantee that the account is genuine; criminals use the codes of real banks too.

Before paying, verify changed bank details by phone. Urgency or secrecy tend to be warning signs. When money has already gone to the wrong account, call your bank right away.

Scams can also work the other way. Someone claims to have sent more than agreed and wants you to refund the difference via a different route. Do not act before the money is actually in your account and check with Virtu Financial Ireland Limited if anything seems off.

Paying Virtu Financial Ireland Limited in euros within SEPA

Since Ireland is in SEPA, a euro transfer into Virtu Financial Ireland Limited from within the SEPA area normally only needs an IBAN. Most banking apps no longer ask for the BIC in that case.

For anything other than euros and from non-SEPA countries, VIFIIE21XXX is still required. If your banking app has a field for the BIC anyway, entering VIFIIE21 does no harm.

Instant payments in euros have become widely supported across SEPA – whether Virtu Financial Ireland Limited offers them for your account is worth checking. As long as no currency is converted, a SEPA transfer tends to be cheap; costs rise once a conversion is involved.

Euro (EUR) and conversion costs

The local currency of Ireland is the Euro (EUR). A payment in a foreign currency will be converted into EUR, and whoever converts it chooses the rate. Every conversion eats into something – usually through the rate rather than a fee.

Who converts the money makes a difference: every bank has its own margin. Sending the amount directly in EUR usually prevents an extra conversion by Virtu Financial Ireland Limited, provided the rate you get is fair.

The EUR rate fluctuates constantly, so the amount you see is usually only valid for a short time. If you pay regularly, small differences in the rate add up over time.

Incoming international payments to Virtu Financial Ireland Limited

A sender in another country needs several details from you. Share the account holder’s name, your account number or IBAN, SWIFT code VIFIIE21XXX and your address, which some banks require.

You can include the bank name and its city as well, because some payment forms have separate fields for them. Double-check the details before you send them – a sender rarely spots a mistake in someone else’s details.

Do not be surprised if the amount credited is below the amount on the sender’s receipt. Intermediary banks may deduct a fee, and when currencies differ, a markup on the rate applies. Agree with the sender who pays which costs.

International transfers from Virtu Financial Ireland Limited: the real cost

The price of a payment abroad has several parts. There is the transfer fee, sometimes fees charged by intermediary banks in between and, most importantly, the margin on the exchange rate.

Banks do not list their exchange rate markup as a cost. Compare their rate against the mid-market rate – the rate you find on financial news sites; the gap is what conversion costs you.

For many currency pairs, a transfer service turns out to be less expensive than a traditional bank transfer – mostly thanks to the rate. GoldexPay compares these services next to each other, showing what actually arrives before you commit. You can still use your account at Virtu Financial Ireland Limited, while a cheaper service handles the conversion.

When will the money arrive at Virtu Financial Ireland Limited?

How quickly a transfer reaches Virtu Financial Ireland Limited is determined by a few things: which currency you send, the number of banks in between, daily processing deadlines and time zones. Bank holidays in either country add a day or more to the journey. Extra checks by one of the banks may also cause a delay.

Many banks use SWIFT gpi, which lets them follow a payment from bank to bank. Each payment gets a unique reference, the UETR, which your bank can use to see where the money is. Specialist transfer services often provide tracking online showing how far the money is.

A delayed transfer is investigated by the sending bank, using the payment confirmation. As a recipient, you can check your statements for a partial amount, since fees may have been deducted.