Banca Akros SPA SWIFT/BIC code

What AKROIT41 means for a payment to Banca Akros SPA

The 8-character code AKROIT41 and the 11-character code AKROIT41XXX refer to one and the same institution: Banca Akros SPA in Milano, Italy. Every bank on the SWIFT network uses BIC codes to direct international transfers to the right institution. In practice you mostly see it on international invoices, in payment forms and on the account details that Banca Akros SPA provides.

On this page you will find what the code is put together, when it matters and which other details you need for a transfer to or from Banca Akros SPA. The SWIFT code on its own does not identify an individual account holder; for that you need the account number or IBAN is for.

Banca Akros SPA: head office code versus branch codes

Having 2 codes in 1 locations, Banca Akros SPA is one of the banks that use separate codes for parts of the organisation and departments. The head office code remains AKROIT41XXX.

For the vast majority of incoming transfers, the head office code AKROIT41XXX is what you need. If you have been given a branch code, use it as it is rather than swapping it for the head office code.

Unsure which code to use? Ask the recipient. Branch codes are more prone to change than AKROIT41XXX.

What to give a sender who pays you at Banca Akros SPA

When you expect a payment from another country, send the payer all details at once. Give them the account holder’s name, the IBAN or account number, SWIFT code AKROIT41XXX and your address, which some banks require.

It helps to add Banca Akros SPA and its city as well, because some payment forms have separate fields for them. Check each detail before you share them.

Do not be surprised if the amount credited is below what the sender paid. Intermediary banks may deduct a fee and your own bank may charge for processing, and if the money is converted, a markup on the rate applies. Make clear with the sender who covers the fees.

8 or 11 characters: AKROIT41 versus AKROIT41XXX

Each SWIFT/BIC code has the same eight core characters: a four-letter bank code, two letters for the country and two characters for the location. The result is AKROIT41, the short form of the code.

XXX at the end of AKROIT41XXX does not stand for a placeholder or an error: it stands for the main office of Banca Akros SPA. Some banking apps ask for 11 characters, and then you can add XXX after AKROIT41.

As a rule the code is written in capitals, without spaces or dashes. A wrong character can send the money to another bank, so copy it carefully.

Euro (EUR) and conversion costs

Italy pays in the Euro, code EUR. When you pay money in a different currency, the amount has to be converted at some point. Every conversion eats into something, even when no fee is shown.

Who converts the payment makes a difference. Check how much EUR the recipient gets with different services; the difference between options can be larger than you expect.

Rates for EUR change during the day, and some providers let you lock in a rate. On larger amounts, a small difference in the rate adds up quickly.

Tracking a transfer to or from Banca Akros SPA

How quickly a transfer reaches Banca Akros SPA depends on a few things: the currency, the number of banks in between, cut-off times and differences in time zone. Transfers sent after the cut-off time or just before a weekend or public holiday usually start a business day later. Extra checks on larger or unusual payments may also add a delay.

If the money seems delayed, ask the sending bank for the status and the transaction reference; with that reference banks can see where the payment is. Money transfer services usually provide a status in their app so you can see where the money has got.

A missing payment has to be investigated by the sending bank. Ask the sender for the payment receipt.

How to check AKROIT41 before you pay

Have the recipient send you the account details straight from their banking app. When the code you were given differs from AKROIT41 or AKROIT41XXX, stop and ask – contact the recipient or Banca Akros SPA.

An incorrect BIC can cause delays, a returned payment or additional charges. Do not forget the IBAN: a mistake there is harder to undo than a wrong BIC.

An automatic check in your banking app merely tells you that the IBAN is valid, not that it is the right account. More and more banks check the payee name against the account before you confirm; take any warning seriously. A small test payment can be worth it for large sums.

Scams that use SWIFT codes

Stay wary when a contact unexpectedly wants you to send money to a different account. A correct SWIFT code says nothing about who owns the account.

Before paying, confirm a change of bank details through a phone call. Watch out for urgent requests, unusual wording or a sender address that is slightly off. Acted too fast? Contact your bank straight away and ask them to start a recall; also report it to the police.

Fraud can also work the other way. Someone claims to have sent too much and asks you to return the difference to a new account. Do not act before the money is actually in your account.

Paying Banca Akros SPA in euros within SEPA

Within the SEPA zone, euro payments to an account in Italy follow common rules. A field for the BIC is often optional in that case.

The BIC still come into play for payments in other currencies and when the money comes from outside SEPA. A few banks and apps also show a field for the BIC out of habit; in that case, enter AKROIT41.

Euro payments within SEPA normally land by the next business day. As long as no currency is converted, a SEPA transfer tends to be cheap.

Sending money abroad from Banca Akros SPA

An international bank payment can cost more than the listed fee. You pay the transfer fee, possibly charges from correspondent banks along the way and, above all, the margin on the exchange rate.

The markup on the rate is often the biggest item even though it is not listed as a fee. Compare their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites.

Specialised transfer providers frequently use rates closer to the mid-market rate and lower fees. Before your next transfer, take a minute to compare the total cost via GoldexPay. Using a transfer service does not mean closing your account at Banca Akros SPA.

Where our SWIFT data comes from

This directory draws on publicly available sources. It is possible that a code here is no longer current, for example after a merger. Figures such as the number of codes come from our directory and may differ from what Banca Akros SPA publishes.

Treat our directory on this page as a handy check, and let the details from the recipient or Banca Akros SPA have the final say. GoldexPay is independent of Banca Akros SPA. Spotted an error? Tell us via our contact form.