Credito Padano Banca di Credito Cooperativo Societa Cooperativa SWIFT/BIC code

What ICRAITR1 means for a payment to Credito Padano Banca di Credito Cooperativo Societa Cooperativa

Whether a recipient gives you ICRAITR1 or ICRAITR1CM7, you are looking at the same address for Credito Padano Banca di Credito Cooperativo Societa Cooperativa in Italy. A BIC has a single purpose: it makes sure that a cross-border transfer ends up at the right bank. In daily life you mostly see the code on international invoices, in your banking app and in the bank details of Credito Padano Banca di Credito Cooperativo Societa Cooperativa customers.

Below you will find the practical side: receiving money at Credito Padano Banca di Credito Cooperativo Societa Cooperativa, sending money abroad and how to check a SWIFT code before you confirm a payment. The SWIFT code alone does not identify a personal account; for that you need the IBAN or account number is for.

Credito Padano Banca di Credito Cooperativo Societa Cooperativa: head office code versus branch codes

Credito Padano Banca di Credito Cooperativo Societa Cooperativa uses 3 separate SWIFT/BIC codes. One of them is the head office code; the others identify branches, and sometimes specific services.

For most payments to a private or business account, the head office code ICRAITR1CM7 works fine. Only use a branch code when the recipient gives you that exact code, for example on a letter or invoice.

The best way is to take the code straight from the recipient’s invoice. Branch codes are sometimes changed or retired when banks reorganise.

International transfers from Credito Padano Banca di Credito Cooperativo Societa Cooperativa: the real cost

What you pay for an international transfer has several parts. You pay the transfer fee, possibly fees charged by intermediary banks along the way and, above all, the margin on the exchange rate.

The markup on the rate tends to be the largest cost. Compare their rate 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 routes, a specialist provider is less expensive than a bank – mostly thanks to the rate. GoldexPay lists transfer providers next to each other, showing what actually arrives. You can still use your account at Credito Padano Banca di Credito Cooperativo Societa Cooperativa as the source of the money, while a cheaper service handles the conversion.

Tracking a transfer to or from Credito Padano Banca di Credito Cooperativo Societa Cooperativa

How fast a payment arrives at Credito Padano Banca di Credito Cooperativo Societa Cooperativa is determined by several factors: the currency, how many intermediary banks are involved, cut-off times and differences in time zone. Payments made late in the day or just before a weekend or public holiday often start the next business day. Occasionally a bank asks what the payment is for.

If the money is delayed, ask the sending bank for the status; with that reference banks can see where the payment is. Specialist transfer services usually show tracking in their app showing how far the payment has got.

A delayed transfer is investigated by the sending bank on the basis of the transfer details. As a recipient, it helps to look at your account for a slightly lower amount, since fees may have been deducted.

Changed bank details? Be careful

Criminals often use payment requests containing changed bank details, sometimes in an email that looks completely genuine. A correct SWIFT code says nothing about who owns the account.

Always confirm changed bank details through a phone call. Watch out for time pressure, unusual wording or an email address that differs by one letter. If a payment has already gone to the wrong account, contact your bank immediately – speed improves the chance of getting it back.

Recipients 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 abroad. A screenshot of a transfer proves nothing; only your own account shows what has arrived.

Paying into Credito Padano Banca di Credito Cooperativo Societa Cooperativa in EUR

The national currency in Italy is the Euro (EUR). A payment in a foreign currency is converted into EUR. You rarely see a separate line for the conversion – the cost sits in the rate.

Who does the conversion affects the final amount, as rates and margins differ per bank. Transferring the amount directly in EUR usually prevents an extra conversion at the receiving end.

The rate for EUR changes constantly, so the amount you see is usually only valid for a short time. On larger amounts, a small difference in the rate can be worth more than the fee.

What the XXX in ICRAITR1CM7 means

Every SWIFT/BIC code starts with an 8-character core: four letters for the bank, two letters for the country and two characters for the location. In this case, that core is ICRAITR1.

XXX at the end of ICRAITR1CM7 is not a placeholder or a mistake: it indicates the main office of Credito Padano Banca di Credito Cooperativo Societa Cooperativa. Some banking apps insist on 11 characters, in which case you can enter XXX behind ICRAITR1.

Leave out spaces, dots when you enter ICRAITR1; the code is always written in one block. Copying the code is safer than typing it by hand, because one wrong letter changes the bank.

Before you send: check the Credito Padano Banca di Credito Cooperativo Societa Cooperativa code

Have the recipient send you their account details directly from their online banking. Check that code with ICRAITR1 on this page and ask if anything does not match.

If the code is wrong, the payment may get stuck, be returned or cost extra, and tracing it can take weeks. A mistake in the IBAN or account number is more serious because it can reach the wrong person; check it just as carefully.

A validity check by your bank merely tells you that the IBAN is valid. Where available, a payee name check before sending adds extra certainty. For a first payment, many people send a small amount first before sending the rest.

SEPA payments and the Credito Padano Banca di Credito Cooperativo Societa Cooperativa BIC

Since Italy is part of SEPA, a euro transfer to Credito Padano Banca di Credito Cooperativo Societa Cooperativa from within the SEPA area usually only needs an IBAN. Most banking apps no longer ask for the BIC in that case.

You still need ICRAITR1CM7 when sending non-euro payments or transfers from countries outside SEPA. Some forms also ask for the BIC out of habit; if so, enter ICRAITR1 or ICRAITR1CM7.

Euro payments within SEPA usually arrive by the next business day, and instant transfers in seconds where both banks support them. Provided the payment stays in euros, the transfer tends to be inexpensive; costs rise once a conversion is involved.

Receiving money from abroad at Credito Padano Banca di Credito Cooperativo Societa Cooperativa

When you expect a payment from another country, give the sender a complete set of details. That means: your full name exactly as it appears on the account, your IBAN or account number, the BIC ICRAITR1CM7 (or ICRAITR1) and usually your address.

Certain sending banks also ask for the address of Credito Padano Banca di Credito Cooperativo Societa Cooperativa. A typo in the IBAN can be more trouble than you might think; copy them from your banking app rather than typing.

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 if the money is converted, an exchange rate margin applies. Agree with the sender who pays which costs before the money is sent.

About this information

We gather bank codes using publicly available data and update our list from time to time. It can happen that information here is out of date, for example after a merger. Figures such as the number of codes come from our own dataset and are not confirmed by Credito Padano Banca di Credito Cooperativo Societa Cooperativa.

Use this page as a starting point, rather than as the last word: the recipient’s bank details come first. GoldexPay is not affiliated with Credito Padano Banca di Credito Cooperativo Societa Cooperativa. If you notice a mistake, we welcome a short note.