Etica Sgr SPA SWIFT/BIC code

SWIFT/BIC code of Etica Sgr SPA

Whether you are given ETSGITM1 or ETSGITM1XXX, you are looking at the same identifier for Etica Sgr SPA in Italy. Banks worldwide use BIC codes to route international transfers to the right bank. It comes up mainly for transfers between countries.

Below you will find the practical questions: receiving money at Etica Sgr SPA, sending money abroad and how to check a SWIFT code before you hit send. A SWIFT code identifies an institution, never a specific account.

Sending money abroad from Etica Sgr SPA

An international bank payment can cost rather more than the fee suggests. On top of the transfer fee, correspondent or intermediary banks can deduct a fee, and when the money changes currency the bank often uses a rate below the actual market rate.

That exchange rate margin is often the largest item even though it is not listed as a fee. Check their rate against the mid-market rate – the rate you find on financial news sites.

Specialised transfer providers often offer a rate near the mid-market rate with clearer fees. GoldexPay lists these services next to each other so you can see the amount the recipient gets for the same amount sent. You can still keep your account at Etica Sgr SPA as the source of the money, while a cheaper service handles the conversion.

Paying into Etica Sgr SPA in EUR

The local currency of Italy is the Euro (EUR). A payment in a foreign currency is converted into EUR before it reaches the account – and the bank that does it picks the rate. Each conversion eats into the amount.

Who converts the payment makes a difference. Transferring the amount already in EUR usually avoids an extra conversion at the receiving end.

Rates for EUR change during the day, and some providers let you lock in a rate. If you pay regularly, a slightly better rate add up over time.

Incoming international payments to Etica Sgr SPA

A sender in another country will ask for a few details from you. In practice that means: your name as registered with Etica Sgr SPA, your account number or IBAN, the SWIFT/BIC code ETSGITM1XXX and usually your address.

Their bank might request the bank address of Etica Sgr SPA; the head office in Milano is usually fine. Check each detail before you share them – a sender rarely spots a mistake in someone else’s details.

An incoming payment does not always land in full. Fees for incoming transfers vary per bank. On invoices, you can agree how the fees are split, so that nobody is left short.

When will the money arrive at Etica Sgr SPA?

There is no fixed delivery time for every transfer: many land within a day. Transfers sent after the cut-off time or on a weekend or public holiday usually go out the next business day. Occasionally a bank asks what the payment is for, which can hold things up.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Each payment carries a unique reference, the UETR, which your bank can use to see where the money is. Money transfer services usually show a status in their app showing where the money has got.

Only the sending bank is able to start an official trace or a recall. As a recipient, it helps to look at your account to see a partial amount because fees can reduce the amount.

ETSGITM1 or ETSGITM1XXX – which one to use?

A BIC is built from fixed blocks: the first four letters identify the bank, the next two show the country and characters seven and eight indicate the location. That gives you ETSGITM1, the short form of the code.

XXX at the end of ETSGITM1XXX is not a missing value or an error: it stands for the head office of Etica Sgr SPA. Some forms insist on 11 characters, and then you can add XXX after ETSGITM1.

Leave out spaces, dots when you enter ETSGITM1. Watch for O versus 0 and the letter I and the digit 1.

Which of the 2 codes of Etica Sgr SPA do you need?

Etica Sgr SPA has 2 separate SWIFT/BIC codes. Only one is the head office code; the rest belong to branches or departments, and sometimes specific services.

For most payments to a private or business account, the head office code ETSGITM1XXX is the right choice. Just use a branch code when the account holder explicitly asks for it, for example on a letter or invoice.

If you are not sure, check with the recipient which code their bank gave them. Codes are sometimes changed or retired when banks reorganise.

Scams that use SWIFT codes

One of the most common tricks goes like this: an email arrives with a message claiming that a company has a new bank account. The fact that ETSGITM1 exists is no guarantee that the account is genuine; criminals use the codes of real banks too.

Do not rely on contact details in the same message that contains the new account. Watch out for urgent requests, odd spelling or a sender address that is slightly off. Already paid? Contact your bank without delay and have them try to recall the payment; also report it to the police.

People receiving money can be targeted as well: a classic trick is a buyer who pays too much followed by a request to refund the difference to another account. A payment confirmation from the sender is no proof; only your own account shows what has arrived.

How up to date is this code?

The directory on GoldexPay is compiled from publicly available sources and we update it periodically. Even so, banks merge, rename themselves or change codes. Figures such as the number of codes come from our own dataset and are not confirmed by Etica Sgr SPA.

For any payment that matters, confirm the BIC with Etica Sgr SPA or with the recipient. We are a comparison site and not affiliated with Etica Sgr SPA. If you notice a mistake, we appreciate a short note.

Is ETSGITM1 still correct? How to check

Have the recipient send you the bank details directly from their online banking. If the code you have does not match ETSGITM1 or ETSGITM1XXX, do not guess: check with the recipient or with Etica Sgr SPA directly.

A wrong SWIFT code may lead to a delay, 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 validity check by your bank merely tells you that the code exists. Some banks now compare the payee name with the account before you confirm. Sending a small amount first is worth it for large sums.

Do you need ETSGITM1 for a SEPA transfer?

Because Italy is in SEPA, a euro transfer to Etica Sgr SPA from within the SEPA area normally only needs an IBAN. Many banks no longer ask for the BIC for these payments or fill it in for you.

For anything other than euros and from non-SEPA countries, ETSGITM1XXX is still part of the payment details. A few banks and apps still ask for the BIC; if so, enter ETSGITM1.

Instant euro transfers have become widely supported within SEPA. As long as the payment stays in euros, the transfer is inexpensive; costs rise once a conversion is involved.