HSBC Bank PLC SWIFT/BIC code

SWIFT/BIC code of HSBC Bank PLC

MIDLITMX and MIDLITMXXXX are the short and the long form of the same SWIFT/BIC code, and both point to HSBC Bank PLC in Milano. A SWIFT code tells every bank in the chain which institution should receive the money, much like a postcode for banks. It comes up mostly when dealing with transfers between countries.

Below you will find the practical side: money coming in from abroad, paying someone in another country and how to check a SWIFT code before you hit send. Remember that the SWIFT code just identifies the bank, not the person: the IBAN or account number takes care of that.

Head office or branch code at HSBC Bank PLC?

With 2 codes in 1 cities, HSBC Bank PLC is one of the banks that register separate codes for branches. The main code remains MIDLITMXXXX.

For most incoming transfers, the head office code MIDLITMXXXX works fine. If you have been given a branch code, use it as it is rather than replacing it for the head office code.

The best way is to take the code straight from the account holder’s bank details. Branch codes are more likely to change than MIDLITMXXXX.

What a transfer from HSBC Bank PLC abroad really costs

If you transfer money to another country from HSBC Bank PLC, the visible fee is only part of the cost. There is the fee for the transfer itself, possibly fees charged by intermediary banks along the way and, above all, the exchange rate markup when the money is converted.

Banks rarely list their exchange rate markup as a cost. Check the rate you are offered against the mid-market rate, the midpoint between buy and sell rates you see on financial sites.

Money transfer services frequently use a rate near the mid-market rate. Next time you send money, it is worth comparing what arrives via GoldexPay. You can always use your account at HSBC Bank PLC as the source of the money, while a cheaper service handles the conversion.

The Euro and what conversion costs you

The national currency of Italy is the Euro (EUR). If you send money in a different currency gets converted somewhere along the way: by your bank, an intermediary or HSBC Bank PLC itself. There is rarely a separate line for that conversion; it is built into the rate.

Who converts the payment makes a difference, because each party uses its own rate. Compare what EUR the recipient gets via several providers.

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

How to check MIDLITMX before you pay

The most reliable source for the BIC is the recipient’s own bank details. If the code you have differs from MIDLITMX or MIDLITMXXXX, do not guess: check with the recipient or with HSBC Bank PLC directly.

An incorrect BIC may lead to delays, a payment being sent back or extra fees. A mistake in the account number can be a bigger problem because it can reach the wrong person, so check that just as carefully.

An automatic check in your banking app merely confirms that the code exists. Some banks now check the name with the account. A small test payment can be a sensible step for large sums, even if it costs an extra fee.

Changed bank details? Be careful

Stay wary if someone unexpectedly asks you to pay into another account or a bank in another country. A correct SWIFT code says nothing about who owns the account – scammers simply use real codes.

Never rely on contact details in the same message that contains the new account. Pressure and requests to keep it quiet are warning signs; a genuine business can wait for you to check. When money has already gone to a fraudster, contact your bank immediately.

Scams also work the other way. Someone sends more than agreed and wants you to refund the difference via a different route. A screenshot of a transfer is no proof.

Paying HSBC Bank PLC in euros within SEPA

Because Italy is in the SEPA zone, a euro transfer to HSBC Bank PLC from within the SEPA area normally only needs the IBAN. Most banking apps no longer ask for the BIC for these payments or fill it in for you.

A SWIFT code like MIDLITMX does matter when the currency is not euros, and for transfers from outside SEPA. Some forms also show a field for the BIC; if so, enter MIDLITMX.

Instant euro transfers have become increasingly available across SEPA – whether HSBC Bank PLC offers them for your account is worth checking. As long as no currency is converted, a SEPA transfer tends to be cheap; costs rise once a conversion is involved.

What to give a sender who pays you at HSBC Bank PLC

Someone abroad who wants to pay you will ask for several details from you – incomplete details often cause delays. That means: your full name exactly as it appears on the account, your account number or IBAN, the SWIFT/BIC code MIDLITMXXXX and usually your address.

Some banks want the bank’s address in Milano, so keep it at hand. A mistake in the IBAN can be harder to fix than you might think.

Do not be surprised if the amount credited is below the amount on the sender’s receipt. Correspondent banks can take a fee, and if the currency changes, a markup on the rate applies. On invoices, you can agree who bears the costs, so that nobody is left short.

When will the money arrive at HSBC Bank PLC?

A SWIFT payment typically needs anywhere from one to several business days – it depends on currency, route and the banks in between. Payments made after the cut-off time or on weekends and holidays often start a business day later. Occasionally a bank asks what the payment is for, which can hold things up.

When a payment takes longer than expected, contact your bank for the status so they can trace it along the chain. Keep the payment confirmation until the recipient confirms – you will need it for any trace request.

Only the sending bank is able to request a trace; the receiving side usually has nothing to trace yet. On the receiving end, you can check your statements for a partial amount because fees can reduce the amount.

What the XXX in MIDLITMXXXX means

Each SWIFT/BIC code has the same eight core characters: four letters for the bank, a two-letter country code and a two-character location code. For HSBC Bank PLC, the 8-character core is MIDLITMX.

XXX at the end of MIDLITMXXXX does not stand for a placeholder or a mistake: it stands for the main office of HSBC Bank PLC. Some banking apps ask for 11 characters, in which case you can enter XXX after MIDLITMX.

As a rule the code is written in capitals. Look out for O versus 0 or I versus 1.

A note on our data

The directory on GoldexPay is compiled from public sources and is updated regularly. Institutions reorganise, change names and retire codes, and a directory never catches every change immediately. Counts and locations come from our directory and are not confirmed by HSBC Bank PLC.

Use this page as a reference, rather than as the last word: the recipient’s bank details come first. GoldexPay is not affiliated with HSBC Bank PLC, we only compare transfer services. Found an error? Let us know via our contact form and we will look into it.