SWIFT/BIC codes in Italy: banks starting with I

Italy: banks and their SWIFT/BIC codes

Here you will find codes for 3414 institutions in Italy. You will need such a code mostly when making international transfers.

Each bank has its own page showing its main code and if there are any, branch codes. The rest of this page explain the structure of the codes, what transfers cost and how to avoid mistakes.

What the letters in a Italy BIC mean

Each SWIFT/BIC code consists of eight or eleven characters in a fixed order. First comes four letters for the bank, followed by a two-letter country code and a two-character location code.

Whatever the bank, every code from Italy have the same fifth and sixth letters. Codes with other letters in that position come from another country – a quick way to catch mistakes.

The optional last three characters identify a branch or department; XXX means the head office. For most transfers the head office code is fine unless the recipient asks for a specific branch.

Most SWIFT codes in Italy: Unicredit SPA

In our data, Unicredit SPA holds the largest number of SWIFT/BIC codes in Italy. Its main office has UNCRITM1001; that is usually the right code for a transfer.

The number of codes says more about how it registers branches and services than about how big it is. Unless a branch code is given, UNCRITM1001 is fine for a payment to Unicredit SPA.

Check the code before you pay

The most reliable place for the right code remains a document from the bank itself, such as a statement or the account page in online banking. An incorrect BIC may lead to delays, a returned payment or extra fees – compare it with the code in our list.

This list is compiled from publicly available sources and is updated regularly. Even so, banks merge, rename themselves or retire codes, so information can be out of date. Use our data as a starting point. GoldexPay is a comparison site, not a bank.

Fraudsters regularly use payment requests carrying changed bank details. Before paying, confirm a change of bank details by phone.

Banks in Italy starting with :letter

You are looking at a selection: only banks in Italy with a name starting with :letter. The totals mentioned here apply to all 3414 banks and not only this letter.

Cannot find the bank? Its official name might start with a different letter – think of the full legal name instead of the brand. Try the full list for Italy when you do not know the exact name.

Receiving money in Italy from abroad

To receive a transfer from abroad into a Italy account, the person paying you needs not just the SWIFT code. In practice that means: your name exactly as it appears on the account, your IBAN or account number, the SWIFT/BIC code of your bank and, often, your postal address.

The code of your bank is in our list. It helps to include the name and city of your bank because some forms have separate fields for it.

Do not be surprised if the incoming amount is smaller than what the sender paid. Intermediary banks may deduct a fee, your bank may charge for incoming payments, and when currencies differ, an exchange rate margin comes on top. Agree with the sender who covers the fees before the money is sent.

Sending money to Italy for less

If you transfer money to Italy with your bank, the fee you see is only part of what you pay. Besides the fee, correspondent banks can deduct a charge and, if currencies are converted, the bank often applies a less favourable rate than the actual market rate.

That exchange rate margin tends to be the largest cost item, even though it is not listed as a fee. Compare the rate you are offered against the mid-market rate that you find on financial sites.

Money transfer services frequently offer rates closer to the mid-market rate and lower fees. Before your next transfer to Italy, it is worth to compare what arrives via GoldexPay.

Paying in EUR: what conversion costs you

Italy pays in the Euro. A payment in a foreign currency will be converted into EUR on its way to the recipient, and whoever converts it chooses the rate.

Who does the conversion affects how much arrives, since every bank sets its own rate. In many cases you pay less to send EUR directly via a provider that converts near the mid-market rate so the receiving bank does not need to convert again. Exchange rates change all the time – some providers let you lock in a rate.

Tracking a payment to Italy

There is no single answer for transfers to Italy: some arrive within a day, others take several business days. Transfers sent late in the day or just before a weekend or public holiday often go out the next business day.

A growing number of banks use SWIFT gpi for faster and traceable payments. Every gpi transfer carries a unique transaction reference, the UETR. Keep the payment confirmation until the money has arrived.

SEPA transfers to Italy

Within the SEPA zone, euro payments to Italy use common rules. The BIC field is usually optional in that case.

A SWIFT code still matter when the currency is not euros and for transfers from outside SEPA. Instant payments in euros are widely available within SEPA, though not every bank offers them for every account. Provided no conversion is involved, a SEPA transfer tends to be cheap.