Ubi Banca S.P.A. SWIFT/BIC code

BFDVIT31 – the SWIFT/BIC code of Ubi Banca S.P.A.

If an invoice shows BFDVIT31 or BFDVIT31XXX, it is the same identifier for Ubi Banca S.P.A. in Italy. A SWIFT code tells the banks handling a payment which institution is meant to get the money, much like a postcode for banks. In practice you mostly come across the code on international invoices, in your banking app and in the bank details of Ubi Banca S.P.A. customers.

On this page we explain how the code means, when you need it and which other details a transfer to or from Ubi Banca S.P.A. requires. Remember that the SWIFT code only identifies the bank, not the person: the IBAN or account number does that part.

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

A BIC is built from fixed blocks: characters one to four identify the bank, the next two show the country and the two after that indicate the location. In this case, that core is BFDVIT31.

Many banks and apps work with both lengths. If a form requires eleven characters, enter BFDVIT31XXX, otherwise BFDVIT31 is fine.

In practice the code is written in capitals and without spaces. Look out for O versus 0 or I versus 1.

Euro (EUR) and conversion costs

Accounts at Ubi Banca S.P.A. are usually held in EUR, the national currency. Money sent in a different currency will be converted into EUR – and the bank that does it picks the rate. You rarely see a separate charge for that conversion; it is built into the rate.

Who does the conversion affects the final amount, since every bank sets its own rate. Transferring the amount already in EUR usually avoids an extra conversion by Ubi Banca S.P.A., provided the rate you get is fair.

Rates for EUR change all the time, and some providers let you lock in a rate. With bigger transfers, a seemingly small gap in the rate can be worth more than the fee.

Which of the 69 codes of Ubi Banca S.P.A. do you need?

Ubi Banca S.P.A. uses 69 separate SWIFT/BIC codes across 55 locations. One of them is the head office code; the others belong to branches.

For most payments to a private or business account, the head office code BFDVIT31XXX is what you need. When you receive a branch code, use it as it is instead of swapping it with the head office code.

If you are not sure, 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.

Watch out for payment fraud

Criminals often use fake invoices containing changed bank details. That BFDVIT31 is a real code is no guarantee that the account is legitimate; criminals use the codes of real banks too.

Check new bank details via a different channel, not by replying to the message. Urgency and secrecy are red flags. If money was sent to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

Fraud can also target the receiver: someone sends more than agreed and wants you to return the extra to a new account. Wait until the money is actually in your account – ask Ubi Banca S.P.A. if something looks wrong.

How long does an international transfer to Ubi Banca S.P.A. take?

How quickly a payment reaches Ubi Banca S.P.A. depends on a few things: the currency, the number of banks in between, daily processing deadlines and time zones. Weekends and public holidays in either country add extra days to the journey. Compliance checks by one of the banks can also cause some delay, even when all details are correct.

When a payment takes longer than expected, contact your bank for the tracking status. Specialist transfer services often provide a status in their app showing where the payment is.

Only the sending bank is able to start an official trace. On the receiving end, you can check your account to see a slightly lower amount because fees can reduce the amount.

Paying someone abroad from your Ubi Banca S.P.A. account

An international bank payment costs more than the listed fee. You pay the fee for the transfer itself, possibly fees charged by intermediary banks in between and, most importantly, the margin on the exchange rate when the money is converted.

Most of the cost usually sits in the exchange rate, not in the fee: many banks convert at a rate with a margin built in. An easy check: put the bank’s rate next to the mid-market rate for the same moment and look at the difference.

Specialised transfer providers frequently offer a rate near the mid-market rate with clearer fees. GoldexPay compares what recipients receive with different services, which makes the cheapest option easy to spot. Using a transfer service does not mean closing your account at Ubi Banca S.P.A..

Incoming international payments to Ubi Banca S.P.A.

When you expect money from abroad, send the payer a complete set of details. That means: your name as registered with Ubi Banca S.P.A., your account number or IBAN, the BIC BFDVIT31XXX and usually your address.

It helps to include Ubi Banca S.P.A. and Firenze as well, because some payment forms have separate fields for them. A mistake in the IBAN is more trouble than it looks.

An incoming payment will not always land in full. Fees for incoming transfers differ per bank; check the price list of Ubi Banca S.P.A.. Make clear with the sender who pays which costs, especially for larger amounts.

Paying Ubi Banca S.P.A. in euros within SEPA

Because Italy is part of the SEPA zone, a euro transfer to Ubi Banca S.P.A. from another SEPA country usually requires just an IBAN. Many banks no longer ask for the BIC in that case or fill it in for you.

The BIC still matter for payments in other currencies. Some banks and apps also ask for the BIC; in that case, enter BFDVIT31.

Euro payments within SEPA usually arrive by the next business day; instant payments are faster if both banks offer them. Fees for SEPA payments are generally low as long as everything stays in euros.

Before you send: check the Ubi Banca S.P.A. code

Ask the recipient to send you their bank details directly from their banking app. If the code you have differs from BFDVIT31 or BFDVIT31XXX, do not guess: check with the recipient or with Ubi Banca S.P.A. directly.

Errors in the BIC tend to be annoying more than fatal: often the payment comes back, minus fees. An error in the IBAN or account number can be a bigger problem because it can reach the wrong person; check it just as carefully.

Most online banking apps validate the format of IBANs – that confirms the format, not the owner. Some banks now check the payee name against the account. For a first payment, many people send a small amount first and wait for confirmation.

About this information

The directory on GoldexPay is based on publicly available sources and we update it periodically. Banks reorganise, change names and change codes, and a directory never catches every change immediately. The number of codes we show are based on what is in our directory and not on information from Ubi Banca S.P.A. itself.

Before any payment that matters, always check the BIC with Ubi Banca S.P.A. or with the recipient. GoldexPay is not affiliated with Ubi Banca S.P.A.. Should you notice something that is out of date, we welcome a short note.