Banca Della Valsassina Cred. Coop. Soc. Coop SWIFT/BIC code

ICRAITRR – the SWIFT/BIC code of Banca Della Valsassina Cred. Coop. Soc. Coop

The 8-character code ICRAITRR and the full code ICRAITRREB0 identify one and the same institution: Banca Della Valsassina Cred. Coop. Soc. Coop. The code does one job: it ensures that an international payment reaches the right bank. You will need it mainly for payments that cross a border or a currency.

Below we go through the practical side: money coming in from abroad, sending money abroad and how to verify the code before you confirm a payment. The SWIFT code alone cannot identify an individual account holder; that is what the IBAN or account number is for.

The Euro and what conversion costs you

The currency of Italy is the Euro (EUR). Money sent in a different currency is converted into EUR before it reaches the account – and the bank that does it picks the rate. Every conversion eats into the amount.

Which bank converts the money matters. Transferring the money directly in EUR usually prevents a second conversion.

Rates for EUR change during the day. With bigger transfers, even seemingly small gap in the rate can be worth more than the fee.

SEPA payments and the Banca Della Valsassina Cred. Coop. Soc. Coop BIC

Since Italy is in SEPA, a euro payment into Banca Della Valsassina Cred. Coop. Soc. Coop from another SEPA country usually requires just an IBAN. Most banking apps no longer ask for the BIC for these payments or fill it in for you.

Outside the euro and from non-SEPA countries, ICRAITRREB0 or ICRAITRR remains required. If a payment form asks for the BIC regardless, entering ICRAITRR is fine.

SEPA transfers usually arrive within one business day; instant payments are faster if both banks offer them. Fees for SEPA payments are generally low, as long as no currency conversion is involved.

How to check ICRAITRR before you pay

The most reliable place for the right code is a document from the bank itself like a bank statement or the account page in online banking. Compare that code with ICRAITRR on this page; if they differ, ask before you pay.

If the code is wrong, the payment might be delayed, bounce back or end up costing more – sometimes after weeks of searching. An error in the account number can be a bigger problem, because the money may be credited to someone else, so check that just as carefully.

An automatic check by your bank only tells you that the code exists – not that it belongs to the person you mean to pay. More and more banks compare the name against the account before you confirm. Sending a small amount first is worth it for a large first payment.

Where our SWIFT data comes from

The details here come from publicly available data which we refresh regularly. Even so, banks merge, rename themselves or retire codes, so information can be out of date. The figures we show reflect our own data and not on information from Banca Della Valsassina Cred. Coop. Soc. Coop itself.

Use this page as a reference, rather than as the final word. We are an independent comparison site and not part of Banca Della Valsassina Cred. Coop. Soc. Coop. Should you notice something that is out of date, we welcome a short note via the contact page.

Head office or branch code at Banca Della Valsassina Cred. Coop. Soc. Coop?

Banca Della Valsassina Cred. Coop. Soc. Coop has 2 separate SWIFT/BIC codes. Only one is the head office code, ICRAITRREB0; the others identify branches.

For most payments to a private or business account, the head office code ICRAITRREB0 works fine. If you have been given a specific code, stick to it rather than swapping it with the head office code.

When in doubt, check with the recipient which code their bank gave them. Codes for branches are more prone to be retired than the head office code when a bank merges or closes offices.

How long does an international transfer to Banca Della Valsassina Cred. Coop. Soc. Coop take?

How fast a payment arrives at Banca Della Valsassina Cred. Coop. Soc. Coop depends on several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Payments made after the cut-off time or just before weekends and holidays usually start a business day later. Compliance checks on larger or unusual payments can also cause a delay.

A growing number of banks use SWIFT gpi. Each gpi transfer carries a unique transaction reference, the UETR. Keep the payment confirmation; it contains the details a bank needs to start a trace.

If a payment has not arrived within the expected time, the sender needs to contact the bank that sent it, not the receiving bank. As a recipient, it helps to look at your account to see a slightly lower amount.

8 or 11 characters: ICRAITRR versus ICRAITRREB0

A SWIFT code is made up of a few fixed parts: the first four letters stand for the bank, the next two give the country and the two after that mark the location. Combined, these eight characters make up ICRAITRR, the code most people search for.

Many payment forms accept either length. If a form asks for eleven characters, use ICRAITRREB0.

Type the code as one block, in upper case and without separators. Watch for the letter O and the digit 0 and the letter I and the digit 1, a common source of typos.

Scams that use SWIFT codes

Fraudsters regularly send fake invoices with changed bank details. The fact that ICRAITRR exists does not mean that a request mentioning it is legitimate.

Before paying, confirm a change of bank details through a phone call, using a number you already had. Be suspicious of urgent requests, unusual wording or an email address that differs by one letter. When money has already gone to a fraudster, call your bank right away: the sooner they act, the better the chance of a recall.

Recipients are targeted too: one known trick is a buyer who pays too much and then sends a request to refund the difference to another account. A payment confirmation from the sender is no proof – check your own account.

Incoming international payments to Banca Della Valsassina Cred. Coop. Soc. Coop

If you expect money from abroad, send the payer a complete set of details. What they need is: the account holder’s name, IBAN or account number, ICRAITRREB0 or ICRAITRR and often your postal address.

Certain banks want the address of Banca Della Valsassina Cred. Coop. Soc. Coop in Cremeno, so keep it at hand. A mistake in your account number can be more trouble than it looks.

The amount you receive is often less than the amount sent. Correspondent banks can take a fee, and when currencies differ, a markup on the rate applies. For business payments, you can state who bears the costs, so that nobody is left short.

International transfers from Banca Della Valsassina Cred. Coop. Soc. Coop: the real cost

What you pay for an international transfer is made up of more than one component, and the transfer fee is only the most visible one. On top of a fixed fee, banks in between can deduct a fee, and when currencies are converted, the bank usually uses a rate that is less favourable than the actual market rate.

The real cost is often in the rate, not in the fee: many banks convert using an exchange rate with a margin built in. A simple test: put the rate you get against the mid-market rate for the same moment and look at the difference.

Specialist money transfer services often offer a rate near the mid-market rate with clearer fees. Before your next transfer, take a minute to compare what arrives on GoldexPay rather than accepting the bank’s rate by default. You can always use your account at Banca Della Valsassina Cred. Coop. Soc. Coop, while a cheaper service handles the conversion.