ING Sviluppo Gestioni SPA SWIFT/BIC code

ING Sviluppo Gestioni SPA SWIFT code: AMRCITM1

The short code AMRCITM1 and the 11-character code AMRCITM1XXX refer to one and the same institution: ING Sviluppo Gestioni SPA in Milano, Italy. A BIC has a single purpose: it makes sure that money from abroad ends up at the right bank. You will need it mostly for transfers between countries and payments in foreign currencies.

This page is meant to help people who sends money to an account at ING Sviluppo Gestioni SPA without mistakes. Remember that the SWIFT code only identifies the bank, not the person: the IBAN or account number does that part.

The Euro and what conversion costs you

The national currency in Italy is the Euro (EUR). When you pay another currency gets converted somewhere along the way: by your bank, an intermediary or ING Sviluppo Gestioni SPA itself. You rarely see a separate charge for the conversion.

Who converts the payment makes a difference: every bank has its own margin. In many cases you pay less to send EUR directly via a transfer service with a good rate rather than letting the receiving bank convert.

Exchange rates change during the day. If you pay regularly, a slightly better rate make a real difference over a year.

Do you need AMRCITM1 for a SEPA transfer?

Within the SEPA zone, euro transfers to an account in Italy use common rules. The BIC field is usually optional or missing in that case.

A SWIFT code like AMRCITM1 does come into play when the currency is not euros. Some forms still show a field for the BIC; in that case, fill in AMRCITM1 or AMRCITM1XXX.

Euro payments within SEPA normally land by the next business day. Provided the payment stays in euros, the transfer is cheap; it is the conversion that costs money.

8 or 11 characters: AMRCITM1 versus AMRCITM1XXX

The layout of a BIC is always the same: four characters for the institution, a two-letter country code and two for the location. In this case, the 8-character core is AMRCITM1.

The 11-character version adds three more characters that identify a branch or department. If the last three are XXX, they simply mean the head office.

Do not add spaces or dashes when you type AMRCITM1; the code is always written in one block. Watch for O versus 0 or I versus 1; they are easy to mix up.

Verifying the SWIFT code of ING Sviluppo Gestioni SPA

The best place to find the right code remains a document from the bank itself. Check that code with AMRCITM1 here and ask if anything does not match.

Mistakes in the SWIFT code tend to be costly more than disastrous – usually the money comes back, minus fees and time lost. Do not forget the IBAN: an error there is more difficult to undo than a wrong BIC.

An automatic check by your bank only tells you that the code is valid – not that it belongs to the person you mean to pay. If your bank offers it, a payee name check before sending gives extra certainty. When you pay someone new, some people start with a small amount first.

Receiving money from abroad at ING Sviluppo Gestioni SPA

If you expect a payment from another country, send the payer a complete set of details. What they need is: your name, IBAN or account number, AMRCITM1XXX and in many cases your home address.

Their bank might request the bank address of ING Sviluppo Gestioni SPA. Double-check every detail before you send them, because the sender’s bank usually copies them as is.

Do not be surprised if the incoming amount is smaller than what the sender paid. Charges on incoming payments differ from bank to bank – the price list of ING Sviluppo Gestioni SPA tells you what applies. Make clear with the sender who pays which costs before the money is sent.

Head office or branch code at ING Sviluppo Gestioni SPA?

With 14 codes in 1 locations, ING Sviluppo Gestioni SPA is one of the banks that register separate codes for branches and departments. The head office code is AMRCITM1XXX.

Unless the recipient tells you otherwise, go with AMRCITM1XXX. When you receive a specific code, stick to it instead of replacing it for the head office code.

When in doubt, check with the recipient which code their bank gave them. Codes are sometimes changed or retired over time, so a code from an old document is not always valid.

Where our SWIFT data comes from

This directory is compiled from publicly available sources. Even so, banks merge or retire codes, so information can be out of date. The figures we show are based on our own data and not on information from ING Sviluppo Gestioni SPA itself.

See the information on this page as a helpful check and rely on the recipient or ING Sviluppo Gestioni SPA for the final confirmation. GoldexPay is not affiliated with ING Sviluppo Gestioni SPA, we only compare transfer services. Found outdated information? Tell us via our contact form so we can correct it.

Scams that use SWIFT codes

Be alert if a contact suddenly wants you to pay into a different account or a bank in another country. A real SWIFT code tells you nothing about who owns the account: scammers use real codes of real banks.

Before paying, verify changed bank details by phone. Pressure and requests to keep it quiet tend to be red flags – a real supplier can wait a day. When money was sent to the wrong account, call your bank right away: the sooner they act, the better the chance of a recall.

Scams can also work the other way. Someone sends more than agreed and asks you to refund the difference via a different route. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.

Tracking a transfer to or from ING Sviluppo Gestioni SPA

There is no single delivery time for every transfer: many arrive the same day or the next while others need several business days. Payments made late in the day or just before weekends and holidays often start the next business day. Sometimes a bank asks about the purpose of a payment, which can hold things up.

If the money is delayed, ask the sending bank about the status so they can trace it along the chain. Save your transfer receipt until the recipient confirms; it contains the details a bank needs to start a trace.

A delayed transfer is investigated from the sending side, using the payment confirmation. Ask the sender for a copy of the payment confirmation with the date and reference; that often settles the question quickly.

Sending money abroad from ING Sviluppo Gestioni SPA

A bank transfer abroad can cost rather more than the listed fee. Besides the transfer fee, banks in between may deduct a fee, and when the money changes currency the bank often uses a rate below the actual market rate.

That exchange rate margin tends to be the largest item. A simple test: put the rate you get next to the mid-market rate and look at the difference.

For a lot of routes, a specialist provider is cheaper than a bank, mainly because of the exchange rate. GoldexPay compares the amount that arrives across services. You can still keep your account at ING Sviluppo Gestioni SPA; only the conversion and sending happen elsewhere.