Sedicibanca S.P.A. SWIFT/BIC code

What CRADITR1 means for a payment to Sedicibanca S.P.A.

Whether a recipient gives you CRADITR1 or CRADITR1XXX, you are looking at the identical address for Sedicibanca S.P.A. in Italy. A SWIFT code shows the banks handling a payment exactly which bank should receive the money. In practice you mostly see the code on international invoices, in your banking app and in the bank details of Sedicibanca S.P.A. customers.

This page is meant to help people who receives money at an account at Sedicibanca S.P.A.. Remember that the BIC only identifies the bank, not the person: the account number or IBAN does that part.

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

Because Italy is part of SEPA, a euro transfer to Sedicibanca S.P.A. 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.

You will still need CRADITR1XXX when sending payments in other currencies or transfers from countries outside SEPA. If a payment form has a field for the BIC regardless, entering CRADITR1 is fine.

Instant euro transfers have become increasingly available across SEPA. Charges on SEPA payments tend to be low, as long as no currency conversion is involved.

International transfers from Sedicibanca S.P.A.: the real cost

An international bank payment can cost more than the fee suggests. You pay the transfer fee, possibly charges from correspondent banks along the way and, most importantly, the margin on the exchange rate if the currency changes.

Most of the cost usually sits in the exchange rate, rather than in the fee: the bank converts at a rate that includes a margin. Compare their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

For a lot of currency pairs, a specialist provider is cheaper than a traditional bank transfer. On GoldexPay we compare what recipients receive with different services. Choosing a specialist does not mean closing your account at Sedicibanca S.P.A.: you simply pay the service from your account.

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

A sender in another country needs several details from you – incomplete details often cause delays. That means: your name exactly as it appears on the account, your IBAN or account number, the BIC CRADITR1XXX (or CRADITR1) and sometimes your postal address.

Their bank may also ask for the address of your bank; the head office in Roma is usually fine. A mistake in your account number is more trouble than you might think.

Do not be surprised if the amount credited is below what the sender paid. Intermediary banks may deduct a fee, Sedicibanca S.P.A. may charge for incoming payments, and when currencies differ, an exchange rate margin applies. On invoices, it is common to agree how the fees are split to avoid a shortfall.

Which of the 2 codes of Sedicibanca S.P.A. do you need?

With 2 codes, Sedicibanca S.P.A. belongs to the banks that register separate codes for branches. The main code remains CRADITR1XXX.

If nobody asks you for a branch code, use CRADITR1XXX or its short form CRADITR1. Just use a branch code when your contact gives you that exact code, for example on an invoice or in their bank details.

Unsure which code to use? Ask the recipient or the bank itself. Codes can change when banks reorganise, so do not rely on old paperwork.

Euro (EUR) and conversion costs

The currency of Italy is the Euro (EUR). If you send another currency, the amount gets converted somewhere along the way. Each conversion eats into the amount – usually through the rate rather than a fee.

Who does the conversion has an effect on how much arrives. Compare how much EUR the recipient gets with different services.

The rate for EUR changes throughout the day and quotes are often valid only for a short time. On larger amounts, even seemingly small difference in the rate adds up quickly.

Is CRADITR1 still correct? How to check

The most reliable source for a SWIFT code is the bank details provided by the recipient: an invoice, a bank statement or their online banking. If the code you have does not match CRADITR1 or CRADITR1XXX, stop and ask.

Errors in the SWIFT code are annoying more than fatal – usually the money comes back, minus fees and time lost. Do not forget the IBAN: a mistake there can be harder to undo than a wrong BIC.

A validity check in your banking app merely tells you that the IBAN is valid, not that it is the right account. More and more banks compare the name with the account. When you pay someone new, many people send a small amount first.

How up to date is this code?

We collect bank codes from public sources and check our list from time to time. Even so, banks merge, rename themselves or retire codes, so information can be out of date. Figures such as the number of codes are from our own dataset and may differ from what Sedicibanca S.P.A. publishes.

Treat the information here as a handy check. We are an independent comparison site for money transfers and not part of Sedicibanca S.P.A.. Should you notice a mistake, we appreciate a message via the contact page.

Why Sedicibanca S.P.A. has an 8- and an 11-character code

Each SWIFT/BIC code starts with the same eight core characters: four letters for the bank, a two-letter country code and a two-character location code. In this case, that core is CRADITR1.

XXX at the end of CRADITR1XXX does not stand for a placeholder or an error: it stands for the main office of Sedicibanca S.P.A.. Some forms ask for 11 characters, in which case you can add XXX behind CRADITR1.

Do not add spaces, dots when you type CRADITR1; the code is always written in one block. A single letter can send a payment to a different institution.

Transfer times and tracking a payment to Sedicibanca S.P.A.

There is no single delivery time: many arrive within a day, others take several business days. Weekends and public holidays in the sending or receiving country can add a day or more, since banks do not process on those days. Sometimes a bank asks what the payment is for.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each payment carries a unique transaction reference, the UETR that banks can use to trace it. Keep the payment confirmation – you will need it for any trace request.

A delayed transfer has to be investigated from the sending side. Ask the sender for the payment receipt including the reference.

Changed bank details? Be careful

Scammers regularly send fake invoices with changed bank details. A valid SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Verify changed bank details through a different channel. Pressure and requests to keep it quiet tend to be warning signs; a genuine business can wait for you to check. When money was sent to the wrong account, contact your bank immediately.

Recipients can be targeted as well: one known trick is a buyer who pays too much and then sends a request to refund the difference abroad. Do not act before the money has really arrived – ask Sedicibanca S.P.A. if something looks wrong.