Banca del Valdarno Credito Cooperativo Societa' Cooperativa SWIFT/BIC code

SWIFT/BIC code of Banca del Valdarno Credito Cooperativo Societa' Cooperativa

Whether you are given ICRAITR1 or ICRAITR1MJ7, you are looking at the same identifier for Banca del Valdarno Credito Cooperativo Societa' Cooperativa in Italy. The code has a single purpose: it makes sure that an international payment reaches the right bank. In practice you usually come across it on invoices from abroad, in your banking app and on the account details that Banca del Valdarno Credito Cooperativo Societa' Cooperativa provides.

Below we go through the practical side: receiving money at Banca del Valdarno Credito Cooperativo Societa' Cooperativa, paying someone in another country and how to verify a SWIFT code before you confirm a payment. Remember that the BIC just identifies the bank, not the person: the account number or IBAN takes care of that.

What a transfer from Banca del Valdarno Credito Cooperativo Societa' Cooperativa abroad really costs

What you pay for an international transfer has more than one component. Besides the transfer fee, correspondent or intermediary banks may take a cut, and if currencies are converted the bank usually applies a rate below the real market rate.

Most of the cost usually sits in the exchange rate: the bank converts at a rate that includes a margin. An easy check: set the rate you get next to the mid-market rate for the same moment and work out the difference on your amount.

Specialist money transfer services frequently offer rates closer to the mid-market rate with clearer fees. GoldexPay lists these services next to each other, showing the amount the recipient gets for the same amount sent. Choosing a specialist does not require leaving Banca del Valdarno Credito Cooperativo Societa' Cooperativa.

Transfer times and tracking a payment to Banca del Valdarno Credito Cooperativo Societa' Cooperativa

There is no fixed delivery time for international payments: some arrive within a day, others take several business days. Bank holidays in either country add a day or more, since banks do not process on those days. Sometimes a bank asks what the payment is for before releasing it.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer carries a unique transaction reference, the UETR. Save your transfer receipt until the recipient confirms – you will need it for any trace request.

Only the sending bank can request a trace. On the receiving end, you can check your account to see a partial amount.

Protect yourself against fake payment requests

Fraudsters regularly send payment requests with changed bank details sent from what looks like a familiar address. That ICRAITR1 is a real code does not mean that the account is genuine.

Verify new payment details via a separate channel, such as a phone number you already know, never via the email that asked for the change. Pressure and secrecy tend to be warning signs – a real supplier can wait a day. When money has already gone to a fraudster, call your bank right away – speed improves the chance of getting it back.

People receiving money can be targeted as well: one known trick is a buyer who pays too much and then sends a request to send back the difference. Do not act before the money has really arrived and check with Banca del Valdarno Credito Cooperativo Societa' Cooperativa if anything seems off.

SEPA payments and the Banca del Valdarno Credito Cooperativo Societa' Cooperativa BIC

Italy is a member of the SEPA area. When you send euros within SEPA, the IBAN is usually enough; many banks no longer ask for the BIC.

Outside the euro and for senders outside SEPA, ICRAITR1MJ7 or ICRAITR1 remains required. If a payment form asks for the BIC regardless, adding ICRAITR1 is fine.

Instant payments in euros are widely available across SEPA; check with Banca del Valdarno Credito Cooperativo Societa' Cooperativa whether it applies to your account. Provided the payment stays in euros, the transfer is inexpensive; it is the conversion that costs money.

Banca del Valdarno Credito Cooperativo Societa' Cooperativa: head office code versus branch codes

Having 2 codes, Banca del Valdarno Credito Cooperativo Societa' Cooperativa belongs to the banks that register separate codes for branches. The head office code is ICRAITR1MJ7.

Unless the recipient tells you otherwise, use ICRAITR1MJ7 or its short form ICRAITR1. Branch codes are only needed if the account holder explicitly mentions it, which is more common for corporate accounts and specialised services.

Not sure which code applies? Ask the recipient or the bank itself. Branch codes are sometimes changed or retired over time, so a code from an old document is not always valid.

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

To receive a transfer from abroad into your account at Banca del Valdarno Credito Cooperativo Societa' Cooperativa, the sender has to have more than the BIC. That means: your full name exactly as it appears on the account, your account number or IBAN, the BIC ICRAITR1MJ7 and, often, your postal address.

The sender’s bank might request the address of your bank, in which case the Figline Valdarno head office is the usual answer. Double-check each detail before you send them, because the sender’s bank usually copies them as is.

Do not be surprised if the incoming amount is below the amount on the sender’s receipt. Intermediary banks may deduct a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate comes on top. Agree with the sender who covers the fees.

Is ICRAITR1 still correct? How to check

The most reliable source for a SWIFT code is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. When the code you were given does not match ICRAITR1 or ICRAITR1MJ7, stop and ask.

Mistakes in the BIC tend to be costly rather than fatal. Remember the account number: a mistake there can be harder to undo than a wrong code.

An automatic check in your banking app merely tells you that the code exists, not that it is the right account. Some banks now compare the name with the account; take any warning seriously. When you pay someone new, many people start with a small amount first before sending the rest.

Euro (EUR) and conversion costs

Accounts at Banca del Valdarno Credito Cooperativo Societa' Cooperativa are typically held in EUR, the local currency. Money sent in a different currency is exchanged into EUR before it reaches the account – and the bank that does it picks the rate. There is rarely a separate line for the conversion; it is built into the rate.

Which bank converts the payment makes a difference: every bank has its own margin. Check what EUR arrives via different services.

Rates for EUR change during the day. If you pay regularly, small differences in the rate add up over a year.

8 or 11 characters: ICRAITR1 versus ICRAITR1MJ7

The layout of every SWIFT code never changes: a bank code of four letters, a two-letter country code and two for the location, plus an optional branch code. Combined, these eight characters form ICRAITR1.

The 11-character version adds a three-character extension for a branch or department. If the last three are XXX, the code points to the head office, so ICRAITR1MJ7 and ICRAITR1 are interchangeable.

Enter the code as one block, in upper case and without separators, exactly as shown here. A single letter may route a payment to another bank, so copy it carefully.

How up to date is this code?

The codes here come from public sources. Institutions merge, change names and change codes. The figures on this page reflect our own data, not official figures from Banca del Valdarno Credito Cooperativo Societa' Cooperativa.

Treat our directory here as a helpful check. GoldexPay is an independent comparison site for money transfers and not affiliated with Banca del Valdarno Credito Cooperativo Societa' Cooperativa. Found an error? Let us know through the contact page so we can correct it.