State Street Bank International GMBH SWIFT/BIC code

SWIFT/BIC code of State Street Bank International GMBH

Whether a recipient gives you SBOSITML or SBOSITMLXXX, it is the same address for State Street Bank International GMBH in Italy. Banks worldwide use these codes to route international transfers to the right institution. In practice you mostly come across it on invoices from abroad, in payment forms and in the bank details of State Street Bank International GMBH customers.

On this page we explain how the code means, when you need it and what else a transfer to or from State Street Bank International GMBH requires. Remember that the SWIFT code just identifies the bank, not the account: the account number or IBAN does that part.

Is SBOSITML still correct? How to check

Ask the recipient to copy the bank details straight from their online banking. If the code you have does not match SBOSITML or SBOSITMLXXX, stop and ask.

With a wrong code, the transfer might get stuck, bounce back or cost extra. Do not forget the account number: an error there can be more difficult to undo than a wrong BIC.

A validity check in your banking app merely confirms that the code exists. Some banks now compare the payee name against the account before you confirm; take any warning seriously. Sending a small amount first can be a sensible step for a large first payment, even if it costs an extra fee.

Euro (EUR) and conversion costs

The currency in Italy is the Euro (EUR). If you send money in a different currency, the amount gets converted somewhere along the way: by your bank, an intermediary or State Street Bank International GMBH itself. There is rarely a separate charge for that conversion.

Who converts the money matters: every bank has its own margin. Transferring the amount already in EUR often prevents an extra conversion at the receiving end – as long as your own rate is good.

Rates for EUR move during the day, and some providers let you lock in a rate. For recurring payments, a slightly better rate add up over a year.

Receiving money from abroad at State Street Bank International GMBH

When you are waiting for money from abroad, give the sender everything they need in one go. Give them your name as the bank knows it, the IBAN or account number, the BIC SBOSITMLXXX and your address, which some banks require.

Certain banks also ask for the bank’s address; it does no harm to include it. Double-check each detail before you send them.

Expect that the incoming amount is below the amount on the sender’s receipt. Fees for incoming transfers differ from bank to bank; check the price list of State Street Bank International GMBH. On invoices, you can state how the fees are split to avoid a shortfall.

Where our SWIFT data comes from

We collect SWIFT/BIC codes from public sources and check our list from time to time. Institutions merge, change names and change codes – a directory can be a step behind. The figures on this page reflect our own data.

Use this page as a reference, rather than as the final word – the bank details from the recipient are leading. GoldexPay is an independent comparison service for money transfers and not part of State Street Bank International GMBH. Spotted outdated information? Tell us through the contact page.

Scams that use SWIFT codes

Stay alert if someone unexpectedly asks you to send money to another account or a bank in another country. The fact that SBOSITML exists does not mean that the account is legitimate.

Do not trust contact details in the same message that announces the change. Watch out for time pressure, odd spelling or a sender address that is slightly off. If money has already gone to a fraudster, call your bank right away.

Scams also work the other way: someone claims to have sent too much and wants you to refund the extra to a new account. A payment confirmation from the sender is no proof; only your own account shows what has arrived.

SBOSITML or SBOSITMLXXX – which one to use?

The structure of a BIC is always the same: a bank code of four letters, two for the country and a two-character location code. In this case, the 8-character core is SBOSITML.

XXX at the end of SBOSITMLXXX does not stand for a placeholder or a mistake: it indicates the main office of State Street Bank International GMBH. Some banking apps ask for 11 characters, in which case you simply add XXX after SBOSITML.

Enter the code as one block, in upper case and without separators. Look out for the letter O and the digit 0 or I versus 1; they are easy to mix up.

SEPA payments and the State Street Bank International GMBH BIC

Within the SEPA zone, euro payments to an account in Italy use common rules and in most cases need only the IBAN. A field for the BIC is often optional in that case.

For anything other than euros and for senders outside SEPA, SBOSITMLXXX or SBOSITML remains part of the payment details. If your banking app has a field for the BIC anyway, adding SBOSITML is fine.

SEPA transfers normally land within one business day; instant payments are faster if both banks offer them. Provided the payment stays in euros, a SEPA transfer tends to be cheap.

Choosing between the 2 SWIFT codes of State Street Bank International GMBH

State Street Bank International GMBH uses 2 separate SWIFT/BIC codes across 1 locations. Only one is the head office code; the rest identify branches or departments, and sometimes specific services.

Unless the recipient tells you otherwise, go with SBOSITMLXXX or its short form SBOSITML. Branch codes are only needed when the recipient’s bank explicitly asks for it, which is more common for corporate accounts and specialised services.

Unsure which code to use? Check with the recipient. Codes can change over time.

Paying someone abroad from your State Street Bank International GMBH account

If you send money abroad via State Street Bank International GMBH, the fee you see is rarely all 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 often uses a rate below the real market rate.

That exchange rate margin is often the largest item. A simple test: put the rate you get next to the mid-market rate and work out the difference on your amount.

For many routes, a transfer service turns out to be cheaper than a bank. Next time you send money, take a minute to compare what arrives via GoldexPay. Choosing a specialist does not mean leaving State Street Bank International GMBH: you simply pay the service from your account.

How long does an international transfer to State Street Bank International GMBH take?

How quickly a payment arrives at State Street Bank International GMBH is determined by a few things: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Bank holidays in the sending or receiving country can add extra days to the journey. Occasionally a bank asks about the purpose of a payment before releasing it.

A growing number of banks use SWIFT gpi, which lets them follow a payment from bank to bank. Each payment carries a unique reference, the UETR that banks can use to trace it. Keep the payment confirmation; it contains the details a bank needs to start a trace.

A missing payment is investigated by the sending bank on the basis of the transfer details. Request from the sender the payment receipt with the date and reference; that often settles the question quickly.