Nexi S.P.A. SWIFT/BIC code

What CIPBITM2 means for a payment to Nexi S.P.A.

If an invoice shows CIPBITM2 or CIPBITM2XXX, it is the identical identifier for Nexi S.P.A. in Italy. A SWIFT code tells the banks handling a payment exactly which bank should receive the money. In daily life you mostly see it on invoices from abroad, in payment forms and in the bank details of Nexi S.P.A. customers.

We wrote this page to help people who receives money at an account at Nexi S.P.A. without mistakes. A SWIFT code names an institution, never a specific account; the IBAN or account number does that.

Receiving money from abroad at Nexi S.P.A.

If you expect a payment from another country, send the payer all details at once. Share your name as the bank knows it, your account number or IBAN, SWIFT code CIPBITM2XXX and your address.

It helps to include Nexi S.P.A. and Milano as well, since some forms ask for it. Check the details before you send them.

Money from abroad does not always land for the full amount. Correspondent banks can take a fee, and if the currency changes, an exchange rate margin comes on top. On invoices, it is common to agree who bears the costs.

SEPA payments and the Nexi S.P.A. BIC

Because Italy is in the SEPA zone, a euro transfer into Nexi S.P.A. from within the SEPA area usually requires just an IBAN. Many banks do not require the BIC in that case.

The BIC does matter when the currency is not euros. If your banking app has a field for the BIC regardless, entering CIPBITM2 is fine.

Instant euro transfers are widely available within SEPA. Provided the payment stays in euros, a SEPA transfer is inexpensive.

Is CIPBITM2 still correct? How to check

The safest source for the BIC is the bank details provided by the recipient: an invoice, a bank statement or their online banking. If the code you have differs from CIPBITM2 or CIPBITM2XXX, stop and ask: check with the recipient or with Nexi S.P.A. directly.

Errors in the SWIFT code are costly rather than disastrous. Do not forget the IBAN: a mistake there can be more difficult to correct than a wrong code.

Many banking apps validate the format of IBANs and sometimes look up the BIC automatically. If your bank offers it, a payee name check on the recipient gives an extra layer of safety. Sending a small amount first can be a sensible step for a large first payment despite the extra fee.

What the XXX in CIPBITM2XXX means

Each SWIFT/BIC code starts with an 8-character core: a four-letter bank code, a two-letter country code and a two-character location code. For Nexi S.P.A., the 8-character core is CIPBITM2.

Most banks and apps accept both lengths. If yours asks for eleven characters, use CIPBITM2XXX.

Type the code in one piece, in upper case and without spaces, exactly as shown here. Pasting the code is safer than retyping it.

Paying someone abroad from your Nexi S.P.A. account

The price of a payment abroad is made up of more than one component – not just the fee on your screen. Besides the transfer fee, correspondent or intermediary banks may take a cut, and if the money changes currency the bank often applies a rate that is less favourable than the real market rate.

Many banks do not list their exchange rate markup as a cost – you only notice it if you compare. An easy check: put the rate you get against the mid-market rate and work out the difference on your amount.

For a lot of currency pairs, a transfer service turns out to be cheaper than a traditional bank transfer – mostly thanks to the rate. GoldexPay lists transfer providers next to each other so you can see the amount the recipient gets before you commit. Choosing a specialist does not mean closing your account at Nexi S.P.A. – you pay the provider from your own account.

A note on our data

The directory on GoldexPay is based on publicly available sources and we update it periodically. It is possible that information here is out of date. Counts and locations are from our directory.

Use this page as a reference, rather than as the last word – the bank details from the recipient are leading. GoldexPay has no connection to Nexi S.P.A.; we are a comparison site for money transfers. Found outdated information? Tell us through the contact page and we will look into it.

Nexi S.P.A.: head office code versus branch codes

With 2 codes, Nexi S.P.A. is one of the banks that register separate codes for branches. The head office code is CIPBITM2XXX.

Usually there is no need to pick a branch: transfers sent to CIPBITM2XXX reach Nexi S.P.A. correctly. A branch code only makes sense when the account holder explicitly asks for it, which is more common for business accounts and specialised services.

Unsure which code applies? Check with the recipient or the bank itself. Branch codes can change over time, so do not rely on old paperwork.

Scams that use SWIFT codes

Criminals regularly use fake invoices with changed bank details. A valid SWIFT code tells you nothing about who owns the account.

Check changed payment details via a separate channel, never via the email that asked for the change. Urgency or secrecy tend to be red flags. Acted too fast? Contact your bank straight away and have them start a recall.

Recipients can be targeted as well: one known trick is an overpayment followed by a request to refund the difference to another account. A screenshot of a transfer proves nothing.

Tracking a transfer to or from Nexi S.P.A.

How fast a payment reaches Nexi S.P.A. depends on a few things: the currency, the number of banks in between, cut-off times and time zones. Transfers sent after the cut-off time or on weekends and holidays usually start a business day later. Sometimes a bank wants to know about the purpose of a payment, which can hold things up.

When a payment takes longer than expected, ask your bank about the status or the UETR; with that reference banks can see where the payment is. Specialist transfer services usually show a status online so you can see how far the money is.

If a payment has not arrived within the expected time, the person who paid needs to contact their own bank rather than Nexi S.P.A.. As a recipient, you can look at your statements to see a partial amount, since fees may have been deducted.

Paying into Nexi S.P.A. in EUR

Italy pays in the Euro. Money sent in a different currency will be exchanged into EUR on its way to Nexi S.P.A., and whoever converts it chooses the rate. Each conversion eats into the amount – usually through the rate rather than a fee.

Which bank converts the payment makes a difference, because each party uses its own rate. Transferring the money directly in EUR often prevents an extra conversion, provided the rate you get is fair.

The EUR rate changes constantly, so the amount you see is usually only valid for a short time. On larger amounts, a small difference in the rate adds up quickly.