Banca Leonardo S.P.A. SWIFT/BIC code

What BLEOITM1 means for a payment to Banca Leonardo S.P.A.

BLEOITM1 and BLEOITM1XXX are the short and the long form of the same bank identifier, and both point to Banca Leonardo S.P.A. in Milano. The code does one job: it makes sure that money from abroad reaches the right bank. In daily life you usually come across the code on international invoices, in payment forms and on the account details that Banca Leonardo S.P.A. provides.

We wrote this page to help anyone who sends money to an account at Banca Leonardo S.P.A.. The SWIFT code alone cannot identify an individual account holder; for that you need the IBAN or account number is for.

When will the money arrive at Banca Leonardo S.P.A.?

An international transfer typically takes anywhere from one to several business days. Payments made after the cut-off time or on weekends and holidays often go out a business day later. Extra checks by one of the banks can also add a delay.

When a payment takes longer than expected, ask your bank for the status; with that reference banks can see where the payment is. Keep the payment confirmation – you will need it for any trace request.

Only the sending bank is able to start an official trace – the recipient’s bank often cannot see a payment that has not arrived. On the receiving end, it helps to check your account to see a slightly lower amount, since fees may have been deducted.

Euro (EUR) and conversion costs

Italy uses the Euro, code EUR. Money sent in a different currency will be exchanged into EUR. There is rarely a separate charge for the conversion; it is built into the rate.

Where the conversion happens affects the final amount. Often you pay less to send EUR straight away via a provider that converts near the mid-market rate.

The EUR rate fluctuates constantly, so the amount you see is usually only valid for a short time. If you pay regularly, a slightly better rate add up over time.

SEPA payments and the Banca Leonardo S.P.A. BIC

Because Italy is part of SEPA, a euro payment into Banca Leonardo S.P.A. from another SEPA country usually only needs an IBAN. Most banking apps no longer ask for the BIC for these payments or fill it in for you.

A SWIFT code like BLEOITM1 still matter when the currency is not euros. A few banks and apps still ask for the BIC out of habit; in that case, fill in BLEOITM1.

Instant payments in euros have become increasingly available within SEPA – whether Banca Leonardo S.P.A. offers them for your account is worth checking. Provided the payment stays in euros, a SEPA transfer tends to be inexpensive.

What to give a sender who pays you at Banca Leonardo S.P.A.

To receive an international payment at Banca Leonardo S.P.A., the sender has to have not just the BIC. In practice that means: your full name exactly as it appears on the account, your IBAN or account number, the SWIFT/BIC code BLEOITM1XXX (or BLEOITM1) and sometimes your postal address.

Certain sending banks want the name and address of Banca Leonardo S.P.A. in Milano; it does no harm to include it. A typo in your account number can be harder to fix than it looks, so copy the details from your online banking.

What lands in your account is often lower than the amount sent. Intermediary banks may deduct a fee, Banca Leonardo S.P.A. may charge for incoming payments, and if the currency changes, a markup on the rate comes on top. Make clear with the sender who pays which costs before the money is sent.

BLEOITM1 or BLEOITM1XXX – which one to use?

A BIC is built from fixed blocks: characters one to four stand for the bank, characters five and six give the country and characters seven and eight indicate the location. That gives you BLEOITM1 for Banca Leonardo S.P.A..

Many banks and apps accept both lengths. If yours requires eleven characters, use BLEOITM1XXX; if it wants eight, use BLEOITM1.

Type the code in one piece, in upper case and without separators, exactly as shown here. Watch for the letter O and the digit 0 or I versus 1, a common source of typos.

Changed bank details? Be careful

Fraudsters often send payment requests with new bank details. A valid SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Check changed bank details via a different channel like a call to a number from an earlier contract. Watch out for time pressure, unusual wording or a sender address that is slightly off. When money was sent to the wrong account, contact your bank immediately – speed improves the chance of getting it back.

Fraud also target the receiver. Someone sends too much and asks you to refund the difference. Wait until the money has really arrived and check with Banca Leonardo S.P.A. if anything seems off.

How up to date is this code?

The details on this page are taken from publicly available data. Still, banks merge or change codes, so information can be out of date. Counts and locations are from our directory and are not confirmed by Banca Leonardo S.P.A..

Treat our data as a reference, rather than as the last word: the recipient’s bank details come first. GoldexPay is independent of Banca Leonardo S.P.A., we only compare transfer services. Spotted outdated information? Tell us via our contact form.

Banca Leonardo S.P.A.: head office code versus branch codes

Having 2 codes in 1 locations, Banca Leonardo S.P.A. belongs to the banks that use separate codes for parts of the organisation. The main code remains BLEOITM1XXX.

For the vast majority of payments to a private or business account, the head office code BLEOITM1XXX is what you need. A branch code only makes sense when the recipient’s bank explicitly asks for it, which is more common for business accounts and specialised services.

If you are not sure, check with the recipient which code their bank gave them. Branch codes are more likely to be retired than BLEOITM1XXX.

What a transfer from Banca Leonardo S.P.A. abroad really costs

When you send money abroad from Banca Leonardo S.P.A., the visible fee is only part of the cost. You pay the fee for the transfer itself, sometimes charges from correspondent banks in between and, above all, the margin on the exchange rate.

The markup on the rate is often the largest cost because it is hidden in the rate. Check their rate with the mid-market rate – the rate you find on financial news sites.

For a lot of currency pairs, a transfer service turns out to be less expensive than a bank, mainly because of the exchange rate. GoldexPay lists these services side by side so you can see what actually arrives for the same amount sent. Choosing a specialist does not require leaving Banca Leonardo S.P.A. – you pay the provider from your own account.

Verifying the SWIFT code of Banca Leonardo S.P.A.

The most reliable source for the BIC is the recipient’s own bank details: an invoice, a bank statement or their online banking. Check that code against BLEOITM1 on this page.

A wrong SWIFT code may lead to delays, a payment being sent back or additional charges for investigation. An error in the IBAN or account number is a bigger problem, because the money may be credited to someone else.

A format check in your banking app merely tells you that the IBAN exists. If your bank offers it, a payee name check on the recipient gives extra certainty. For a first payment, some people start with a small amount first.