Banca Progetto S.p.a SWIFT/BIC code

Banca Progetto S.p.a SWIFT code: POPHIT21

POPHIT21 and POPHIT21XXX are the short and the long form of the same SWIFT/BIC code, and both point to Banca Progetto S.p.a in Milano. A SWIFT code shows the sending bank exactly which bank is meant to get the money, a bit like a postal address for banks. You will need it mostly when dealing with payments that cross a border.

Below you will find the practical side: receiving money at Banca Progetto S.p.a, sending money abroad and how to check a SWIFT code before you hit send. The SWIFT code alone cannot identify a personal account; for that you need the IBAN or account number .

What to give a sender who pays you at Banca Progetto S.p.a

If you expect money from abroad, give the sender everything they need in one go. The basics are: your name, account number or IBAN, POPHIT21XXX or POPHIT21 and, for some countries, your postal address.

You can include the bank name and Milano as well, because some payment forms have separate fields for them. A mistake in your account number is harder to fix than you might think.

Expect that the amount credited is below what the sender paid. Intermediary banks may deduct a fee, Banca Progetto S.p.a may charge for incoming payments, and if the currency changes, a markup on the rate comes on top. On invoices, you can agree who bears the costs.

Do you need POPHIT21 for a SEPA transfer?

Since Italy is part of SEPA, a euro payment into Banca Progetto S.p.a from another SEPA country normally only needs the IBAN. Most banking apps no longer ask for the BIC for these payments.

You still need POPHIT21XXX for payments in other currencies or money from outside the SEPA area. If a payment form has a field for the BIC anyway, adding POPHIT21 does no harm.

Instant euro transfers are increasingly available across SEPA. Provided no currency is converted, a SEPA transfer tends to be inexpensive.

The Euro and what conversion costs you

The national currency of Italy is the Euro (EUR). If you send another currency it gets converted at some point: by your bank, an intermediary or Banca Progetto S.p.a itself. You rarely see a separate line for the conversion; it is built into the rate.

Who does the conversion has an effect on the final amount, since every bank sets its own rate. Transferring the money directly in EUR usually prevents a second conversion at the receiving end.

The EUR rate fluctuates constantly. With bigger transfers, a small gap in the rate can be worth more than the fee.

Choosing between the 6 SWIFT codes of Banca Progetto S.p.a

Our directory lists 6 SWIFT/BIC codes for Banca Progetto S.p.a. Besides the head office code POPHIT21XXX, you will find codes for branches, departments or specific services.

In most cases there is no need to look up a branch: transfers addressed to POPHIT21XXX are routed within Banca Progetto S.p.a correctly. If you have been given a branch code, use it as it is instead of replacing it for the head office code.

Not sure which code applies? Ask the recipient or the bank itself. Branch codes are more prone to change than the head office code.

When will the money arrive at Banca Progetto S.p.a?

There is no fixed delivery time for every transfer: some land the same day or the next while others need several business days. Transfers sent late in the day or just before a weekend or public holiday usually start a business day later. Compliance checks by one of the banks may also cause some delay, even when all details are correct.

Many banks use SWIFT gpi. Every gpi transfer carries a unique transaction reference, the UETR. Money transfer services usually show a status in their app so you can see how far the payment is.

A delayed transfer has to be investigated from the sending side on the basis of the transfer details. Request from the sender a copy of the payment confirmation with the date and reference.

What the XXX in POPHIT21XXX means

Each SWIFT/BIC code starts with the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. For Banca Progetto S.p.a, that core is POPHIT21.

Many payment forms work with either length. If yours asks for eleven characters, enter POPHIT21XXX.

Do not add spaces or dashes when you enter POPHIT21; the code is always written in one block. A wrong character may route a payment to a different institution, so check it twice.

Scams that use SWIFT codes

Criminals regularly use fake invoices containing changed bank details sent from what looks like a familiar address. A real SWIFT code says nothing about who owns the account.

Never rely on a phone number from the same email that announces the new account. Be suspicious of urgent requests, unusual wording or a sender address that is slightly off. Acted too fast? Call the bank you paid from without delay and ask them to start a recall.

Fraud can also target the receiver. Someone sends too much and wants you to refund the difference to a new account. A payment confirmation from the sender is no proof.

About this information

The details on this page are taken from public sources which we refresh regularly. It is possible that information on this page is no longer current. Counts and locations are from our directory and may differ from what Banca Progetto S.p.a publishes.

Treat this page as a starting point, not as the final word: the recipient’s bank details come first. GoldexPay is independent of Banca Progetto S.p.a. Spotted outdated information? Let us know through the contact page.

How to check POPHIT21 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. Check that code against POPHIT21 here.

A wrong SWIFT code can cause delays, a returned payment or additional charges for investigation. Remember the account number: an error there can be more difficult to undo than a wrong code.

Most online banking apps check the format of an IBAN – that confirms the format, not the owner. Some banks now check the name with the account. Sending a small amount first can be a sensible step for large sums.

International transfers from Banca Progetto S.p.a: the real cost

The price of an international transfer has several parts. Besides the transfer fee, banks in between can deduct a fee, and when the money changes currency the bank often uses a rate below the real market rate.

Many banks do not show the margin on the rate separately, but you pay it all the same. Check the rate you are offered against 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 currency pairs, a transfer service is cheaper than a traditional bank transfer. GoldexPay compares transfer providers next to each other so you can see the amount the recipient gets. Using a transfer service does not mean leaving Banca Progetto S.p.a – you pay the provider from your own account.