Banca del Valdarno Credito Cooperativo SWIFT/BIC code

ICRAITR1 – the SWIFT/BIC code of Banca del Valdarno Credito Cooperativo

The short code ICRAITR1 and the full code ICRAITR1MJ6 identify the same bank: Banca del Valdarno Credito Cooperativo, with its head office in Castelfranco di Sopra. Every bank on the SWIFT network uses these codes to direct international transfers to the correct bank. It comes up mostly for payments that cross a border or a currency.

On this page you can read what the code is put together, when you need it and which other details a transfer to or from Banca del Valdarno Credito Cooperativo requires. A SWIFT code identifies an institution, never a single account, which is why you always need the account number too.

Getting paid from abroad into a Banca del Valdarno Credito Cooperativo account

Someone abroad who wants to pay you needs several details from you. The basics are: the account holder’s name, IBAN or account number, ICRAITR1MJ6 and often your home address.

It helps to add the bank name and Castelfranco di Sopra as well, since some forms ask for it. A mistake in the IBAN can be more trouble than it looks; copy them from your banking app rather than typing.

Do not be surprised if the amount credited is below what the sender paid. Charges on incoming payments differ from bank to bank – the price list of Banca del Valdarno Credito Cooperativo tells you what applies. On invoices, it is common to agree who bears the costs to avoid a shortfall.

When will the money arrive at Banca del Valdarno Credito Cooperativo?

There is no single answer: some land the same day or the next, others take several business days. Payments made after the cut-off time or on weekends and holidays usually start the next business day. Occasionally a bank asks what the payment is for.

When a payment takes longer than expected, ask your bank about the tracking status and the transaction reference; with that reference banks can see where the payment is. Specialist transfer services usually show tracking online showing where the money is.

A missing payment is traced by the sending bank, using the payment confirmation. As a recipient, you can look at your account to see a slightly lower amount because fees can reduce the amount.

Sending EUR to Banca del Valdarno Credito Cooperativo

Italy uses the Euro. A payment in a foreign currency is exchanged into EUR before it reaches the account, and whoever converts it chooses the rate. You rarely see a separate line for that conversion – the cost sits in the rate.

Which bank converts the money matters. Transferring the amount already in EUR usually avoids an extra conversion.

Rates for EUR move all the time. On larger amounts, a seemingly small gap in the rate adds up quickly.

Head office or branch code at Banca del Valdarno Credito Cooperativo?

We have 7 SWIFT/BIC codes for Banca del Valdarno Credito Cooperativo, spread over 6 cities. Besides the head office code ICRAITR1MJ6, you will find codes for branches, departments or specific services.

Unless the recipient tells you otherwise, go with ICRAITR1MJ6. A branch code only makes sense if the account holder specifically asks for it, which is more common for corporate accounts and trade services.

The best way is to take the code straight from the account holder’s bank details. Branch codes are more prone to be retired than ICRAITR1MJ6.

International transfers from Banca del Valdarno Credito Cooperativo: the real cost

A bank transfer abroad costs more than the fee suggests. You pay the fee for the transfer itself, possibly charges from correspondent banks in between and, most importantly, the exchange rate markup when the money is converted.

That exchange rate margin tends to be the largest item, and it is easy to miss. Check their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

For a lot of routes, a specialist provider is cheaper than a bank. GoldexPay lists transfer providers side by side, showing what actually arrives for the same amount sent. You can still use your account at Banca del Valdarno Credito Cooperativo as the source of the money, while a cheaper service handles the conversion.

Why Banca del Valdarno Credito Cooperativo has an 8- and an 11-character code

The layout of every SWIFT code never changes: a bank code of four letters, two for the country and two for the location. For Banca del Valdarno Credito Cooperativo, that core is ICRAITR1.

Many banks and apps work with both lengths. If a form asks for eleven characters, use ICRAITR1MJ6; if it wants eight, use ICRAITR1.

As a rule the code is typed in capitals, without spaces or dashes. Watch for the letter O and the digit 0 or I versus 1, a common source of typos.

Scams that use SWIFT codes

One of the most common tricks goes like this: an email arrives with a message saying that a supplier has new bank details and asking you to pay there from now on. The fact that ICRAITR1 exists does not mean that the account is genuine; criminals use the codes of real banks too.

Never trust contact details in the same message that announces the new account. Urgency and secrecy tend to be warning signs. If a payment was sent to a fraudster, call your bank right away.

People receiving money are targeted too: one known trick is a buyer who pays too much followed by a request to refund the difference abroad. A screenshot of a transfer proves nothing – check your own account.

Where our SWIFT data comes from

The details here come from public sources which we refresh regularly. Even so, banks merge or change codes, so information can be out of date. The number of codes on this page reflect our own data, not official figures from Banca del Valdarno Credito Cooperativo.

Before a payment of any size, confirm the code with Banca del Valdarno Credito Cooperativo or with the recipient. GoldexPay is not affiliated with Banca del Valdarno Credito Cooperativo. If you notice a mistake, we appreciate a short note via the contact page.

Do you need ICRAITR1 for a SEPA transfer?

Since Italy is in the SEPA zone, a euro payment into Banca del Valdarno Credito Cooperativo from within the SEPA area normally only needs the IBAN. Many banks no longer ask for the BIC for these payments or fill it in for you.

You will still need ICRAITR1MJ6 for payments in other currencies or money from outside the SEPA area. A few banks and apps still show a field for the BIC out of habit; if so, enter ICRAITR1.

SEPA transfers usually arrive within one business day. As long as no currency is converted, the transfer tends to be inexpensive; it is the conversion that costs money.

Is ICRAITR1 still correct? How to check

The most reliable place for the correct BIC is a document from the bank itself, such as a statement or the account details in online banking. When the code you were given differs from ICRAITR1 or ICRAITR1MJ6, do not guess: check with the recipient or with Banca del Valdarno Credito Cooperativo directly.

Errors in the SWIFT code are annoying rather than fatal: often the payment comes back, minus fees. An error in the IBAN or account number is a bigger problem, because the money may be credited to someone else.

Most online banking apps check the structure of IBANs – that confirms the format, not the owner. More and more banks compare the name against the account before you confirm. Sending a small amount first is worth it for large sums.