Sovifin Sim S.P.A. SWIFT/BIC code

SWIFT/BIC code of Sovifin Sim S.P.A.

The short code SVFIIT31 and the full code SVFIIT31XXX identify the same bank: Sovifin Sim S.P.A., with its head office in Massa. A BIC does one job: it ensures that an international payment reaches the right bank. In practice you usually come across it on invoices from abroad, in payment forms and in the bank details that Sovifin Sim S.P.A. provides.

This page is meant to help anyone who receives money at an account at Sovifin Sim S.P.A. and wants to get the details right. The SWIFT code alone cannot identify an individual account holder; for that you need the IBAN or account number .

The Euro and what conversion costs you

The national currency of Italy is the Euro (EUR). A payment in a foreign currency is converted into EUR, and whoever converts it chooses the rate. Each conversion costs something, even when no fee is shown.

Where the conversion happens affects how much arrives, since every bank sets its own rate. Sending the amount already in EUR usually prevents an extra conversion by Sovifin Sim S.P.A., provided the rate you get is fair.

The EUR rate changes throughout the day. If you pay regularly, small differences in the rate add up over time.

How to check SVFIIT31 before you pay

The most reliable source for a SWIFT code is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. Check it with SVFIIT31 on this page.

Mistakes in the SWIFT code are annoying more than fatal: often the payment comes back, minus fees. Remember the IBAN: a mistake there is harder to correct than a wrong code.

Many banking apps validate the structure of IBANs, but that does not prove the account belongs to the right person. Some banks now compare the payee name against the account; take any warning seriously. A small test payment is a sensible step for large sums.

Sovifin Sim S.P.A.: head office code versus branch codes

We have 2 SWIFT/BIC codes for Sovifin Sim S.P.A., spread over 2 locations. Besides the head office code SVFIIT31XXX, you will find codes for individual branches and departments.

Usually you do not need to look up a branch: payments sent to SVFIIT31XXX are routed within Sovifin Sim S.P.A. without problems. When you receive a branch code, stick to it instead of replacing it for the head office code.

When in doubt, ask the person you are paying which code their bank gave them. Branch codes are more likely to be retired than SVFIIT31XXX.

Watch out for payment fraud

Be wary when someone unexpectedly wants you to pay into a different account or a bank in another country. That SVFIIT31 is a real code is no guarantee that a request mentioning it is legitimate – fraudsters use real bank codes as well.

Never rely on contact details in the same message that contains the new account. Pressure and requests to keep it quiet tend to be warning signs; a genuine business can wait for you to check. Already paid? Call your bank straight away and ask them to start a recall and report the fraud.

People receiving money are targeted too: one known trick is a buyer who pays too much and then sends a request to refund the difference abroad. A screenshot of a transfer proves nothing.

When will the money arrive at Sovifin Sim S.P.A.?

There is no single answer for international payments: some arrive the same day or the next. Transfers sent late in the day or on a weekend or public holiday usually go out a business day later. Extra checks on larger or unusual payments can also cause a delay, regardless of the details.

Many banks are connected to SWIFT gpi for faster and traceable payments. Each payment gets a unique reference, the UETR that banks can use to trace it. Keep your transfer receipt until the recipient confirms; it contains the details a bank needs to start a trace.

If the money does not arrive within the expected time, the person who paid needs to start with their own bank. As a recipient, it helps to check your account to see a slightly lower amount because fees can reduce the amount.

Paying Sovifin Sim S.P.A. in euros within SEPA

Because Italy is part of the SEPA zone, a euro transfer into Sovifin Sim S.P.A. from within the SEPA area usually requires just the IBAN. Many banks no longer ask for the BIC for these payments.

The BIC does matter when the currency is not euros and when the money comes from outside SEPA. A few forms still ask for the BIC out of habit; if so, fill in SVFIIT31.

Instant payments in euros have become increasingly supported within SEPA; check with Sovifin Sim S.P.A. whether it applies to your account. As long as the payment stays in euros, a SEPA transfer tends to be cheap; it is the conversion that costs money.

What the XXX in SVFIIT31XXX means

The layout of a BIC is always the same: four characters for the institution, two for the country and a two-character location code, plus an optional branch code. The result is SVFIIT31, the short form of the code.

Most payment forms work with either length. If yours asks for eleven characters, use SVFIIT31XXX, otherwise SVFIIT31 is fine.

Enter the code as one block, in capitals and without spaces. Pasting the code beats typing it by hand: a typo can point to another bank.

Paying someone abroad from your Sovifin Sim S.P.A. account

If you send money to another country through Sovifin Sim S.P.A., the visible fee is only part of the cost. On top of the transfer fee, correspondent or intermediary banks can take a cut, and if the money changes currency the bank usually uses a rate that is less favourable than the actual market rate.

Most of the cost usually sits in the exchange rate: the bank converts using an exchange rate with a margin built in. Compare the rate you are offered with the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Specialist money transfer services frequently offer a rate near the mid-market rate. GoldexPay compares what recipients receive across services, which makes the cheapest option easy to spot. You can always use your account at Sovifin Sim S.P.A.; only the conversion and sending happen elsewhere.

About this information

We collect bank codes using public sources and update our list from time to time. It is possible that information on this page is no longer current after a merger or reorganisation. Figures such as the number of codes are from our own dataset.

Treat this page as a starting point, not as the final word: the recipient’s bank details come first. GoldexPay is not affiliated with Sovifin Sim S.P.A.; we are a comparison site for money transfers. Found outdated information? Tell us through the contact page.

Incoming international payments to Sovifin Sim S.P.A.

Someone abroad who wants to pay you needs a few details from you – incomplete details often cause delays. In practice that means: your name as registered with Sovifin Sim S.P.A., your account number or IBAN, the SWIFT/BIC code SVFIIT31XXX and, often, your address.

It helps to add Sovifin Sim S.P.A. and Massa too. Check the details before you share them, because the sender’s bank usually copies them as is.

Do not be surprised if the incoming amount is below what the sender paid. Fees for incoming transfers differ per bank – the price list of Sovifin Sim S.P.A. tells you what applies. Agree with the sender who pays which costs.