Banca di Credito Cooperativo di Spinazzola Soc. Coop. SWIFT/BIC code

What ICRAITR1 means for a payment to Banca di Credito Cooperativo di Spinazzola Soc. Coop.

ICRAITR1 and ICRAITR1O91 are the short and the long form of the same SWIFT/BIC code, and both lead to Banca di Credito Cooperativo di Spinazzola Soc. Coop. in Minervino Murge. The code has a single purpose: it ensures that a cross-border transfer ends up at the right bank. You will need it mainly for transfers between countries and payments in foreign currencies.

On this page you can read what the code means, when you need it and which other details a transfer to or from Banca di Credito Cooperativo di Spinazzola Soc. Coop. requires. Keep in mind that the BIC only identifies the bank, not the account: the account number or IBAN takes care of that.

The Euro and what conversion costs you

The currency of Italy is the Euro (EUR). When you pay another currency it gets converted at some point – by your bank, by Banca di Credito Cooperativo di Spinazzola Soc. Coop. or by a bank in between. You rarely see a separate line for that conversion – the cost sits in the rate.

Who converts the payment matters, because each party uses its own rate. Compare how much EUR arrives with different services.

The rate for EUR changes throughout the day. For regular payments, a slightly better rate add up over time.

Head office or branch code at Banca di Credito Cooperativo di Spinazzola Soc. Coop.?

Banca di Credito Cooperativo di Spinazzola Soc. Coop. has 3 different SWIFT/BIC codes across 3 locations. One of them is the head office code; the rest belong to branches or departments, and sometimes specific services.

Usually there is no need to look up a branch: transfers addressed to ICRAITR1O91 reach Banca di Credito Cooperativo di Spinazzola Soc. Coop. correctly. A branch code only makes sense when the recipient’s bank specifically asks for it.

The safest route is to copy the code straight from the recipient’s invoice. Branch codes are more prone to change than ICRAITR1O91.

Is ICRAITR1 still correct? How to check

Have the recipient copy their bank details straight from a recent statement. If the code you have differs from ICRAITR1 or ICRAITR1O91, do not guess – contact the recipient or Banca di Credito Cooperativo di Spinazzola Soc. Coop..

A wrong SWIFT code may lead to a delay, a returned payment or additional charges along the way. An error in the account number is more serious.

An automatic check by your bank merely confirms that the code exists – not that it belongs to the person you mean to pay. If your bank offers it, a payee name check on the recipient gives extra certainty. Sending a small amount first is a sensible step for large sums, even if it costs an extra fee.

When will the money arrive at Banca di Credito Cooperativo di Spinazzola Soc. Coop.?

How quickly a payment reaches Banca di Credito Cooperativo di Spinazzola Soc. Coop. is determined by several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Transfers sent after the cut-off time or on a weekend or public holiday usually start the next business day. Compliance checks on larger or unusual payments can also add some delay, regardless of the details.

When a payment takes longer than expected, contact the sending bank for the tracking status or the UETR so they can trace it along the chain. Save your transfer receipt until the recipient confirms – you will need it for any trace request.

If the money does not arrive after a few business days, the person who paid needs to contact the bank that sent it, not the receiving bank. Ask the sender for a copy of the payment confirmation including the reference.

Receiving money from abroad at Banca di Credito Cooperativo di Spinazzola Soc. Coop.

A sender in another country will ask for several details from you – incomplete details often cause delays. The basics are: the account holder’s name, IBAN or account number, ICRAITR1O91 and often your postal address.

Their bank might also ask for the bank address of Banca di Credito Cooperativo di Spinazzola Soc. Coop.. Double-check the details before you share them, because the sender’s bank usually copies them as is.

The amount you receive is often lower than the amount sent. Fees for incoming transfers vary from bank to bank – the price list of Banca di Credito Cooperativo di Spinazzola Soc. Coop. tells you what applies. On invoices, it is common to state how the fees are split to avoid a shortfall.

A note on our data

The codes here are taken from publicly available data which we refresh regularly. Banks merge, change names and retire codes. The number of codes we show reflect what is in our directory, not official figures from Banca di Credito Cooperativo di Spinazzola Soc. Coop..

For a payment of any size, check the code with the recipient’s bank or the recipient. We are a comparison site for money transfers and not affiliated with Banca di Credito Cooperativo di Spinazzola Soc. Coop.. Spotted outdated information? Let us know through the contact page and we will look into it.

8 or 11 characters: ICRAITR1 versus ICRAITR1O91

A SWIFT code is built from fixed blocks: characters one to four stand for the bank, characters five and six give the country and the two after that mark the location. Together, these eight characters form ICRAITR1, the code most people search for.

The full version adds three more characters that identify a branch or department. When those three characters are XXX, they simply mean the head office.

In practice the code is typed in capitals. Copying the code beats typing it by hand: a typo can point to another bank.

SEPA payments and the Banca di Credito Cooperativo di Spinazzola Soc. Coop. BIC

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

A SWIFT code like ICRAITR1 does matter when the currency is not euros, and for transfers from outside SEPA. A few banks and apps also ask for the BIC; in that case, enter ICRAITR1.

Instant euro transfers are increasingly supported within SEPA. Provided no currency is converted, a SEPA transfer is inexpensive.

Paying someone abroad from your Banca di Credito Cooperativo di Spinazzola Soc. Coop. account

When you transfer money abroad via Banca di Credito Cooperativo di Spinazzola Soc. Coop., the visible fee is only part of what you pay. Besides a fixed fee, banks in between can take a cut, and if the money changes currency the bank usually applies a rate that is less favourable than the actual market rate.

The real cost is often in the rate, rather than in the fee: many banks convert using an exchange rate with a margin built in. A simple test: put the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

For a lot of routes, a specialist provider turns out to be less expensive than a traditional bank transfer – mostly thanks to the rate. GoldexPay lists these services next to each other so you can see the amount the recipient gets. You can still use your account at Banca di Credito Cooperativo di Spinazzola Soc. Coop. to fund the transfer, while a cheaper service handles the conversion.

Scams that use SWIFT codes

Be alert if someone unexpectedly wants you to send money to a different account or a bank in another country. The fact that ICRAITR1 exists is no guarantee that a request mentioning it is genuine – fraudsters use real bank codes as well.

Always confirm changed bank details through a phone call. Pressure and secrecy tend to be red flags. 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: a classic trick is an overpayment followed by a request to send back the difference abroad. Do not act before the money has really arrived – ask Banca di Credito Cooperativo di Spinazzola Soc. Coop. if something looks wrong.