Unione Fiduciaria SPA SWIFT/BIC code

What UNFUITM1 means for a payment to Unione Fiduciaria SPA

Whether a recipient gives you UNFUITM1 or UNFUITM1XXX, you are looking at the identical identifier for Unione Fiduciaria SPA in Italy. A SWIFT code tells every bank in the chain which institution is meant to get the money, a bit like a postal address for banks. You will need it mainly when dealing with transfers between countries and payments in foreign currencies.

On this page you can read how the code is put together, when it matters and which other details you need for a transfer to or from Unione Fiduciaria SPA. Remember that the BIC only identifies the bank, not the person: the IBAN or account number does that part.

Do you need UNFUITM1 for a SEPA transfer?

Since Italy is part of the SEPA zone, a euro payment into Unione Fiduciaria SPA from within the SEPA area usually only needs an IBAN. Most banking apps no longer ask for the BIC in that case or fill it in for you.

The BIC does come into play for payments in other currencies and when the money comes from outside SEPA. A few forms still show a field for the BIC out of habit; if so, fill in UNFUITM1 or UNFUITM1XXX.

SEPA transfers usually arrive by the next business day; instant payments are faster if both banks offer them. As long as no currency is converted, a SEPA transfer tends to be inexpensive.

Tracking a transfer to or from Unione Fiduciaria SPA

A SWIFT payment typically needs anywhere from one to several business days, depending on the currency, the route and the banks involved. Transfers sent late in the day or on weekends and holidays usually start the next business day. Compliance checks on larger or unusual payments may also cause some delay, regardless of the details.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Every gpi transfer gets a unique reference, the UETR that banks can use to trace it. Save the payment confirmation – you will need it for any trace request.

If the money does not arrive within the expected time, the person who paid needs to start with their own bank, not the receiving bank. As a recipient, it helps to check your statements for a partial amount, since fees may have been deducted.

About this information

The codes on this page come from public sources which we refresh regularly. Even so, banks merge or change codes and our data may lag behind. Counts and locations come from our own dataset.

See the information on this page as a handy check and rely on the recipient or Unione Fiduciaria SPA for the final confirmation. GoldexPay is not affiliated with Unione Fiduciaria SPA; we are a comparison site for money transfers. Found outdated information? Let us know via our contact form.

Protect yourself against fake payment requests

Be alert if someone suddenly wants you to pay into another account abroad. The fact that UNFUITM1 exists does not mean that a request mentioning it is legitimate; criminals use the codes of real banks too.

Never rely on contact details from the same email that announces the new account. Pressure or secrecy are warning signs; a genuine business can wait for you to check. If money has already gone to the wrong account, contact your bank immediately: the sooner they act, the better the chance of a recall.

Scams can also target the receiver. Someone sends more than agreed and asks you to refund the extra via a different route. A payment confirmation from the sender proves nothing.

Is UNFUITM1 still correct? How to check

The safest source for a SWIFT code is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. When the code you were given does not match UNFUITM1 or UNFUITM1XXX, stop and ask.

A wrong SWIFT code may lead to delays, a returned payment or extra fees along the way. Remember the IBAN: a mistake there can be harder to undo than a wrong code.

Many banking apps validate the format of IBANs and sometimes look up the BIC automatically. Where available, a name check before sending adds extra certainty. Sending a small amount first can be worth it for large sums.

International transfers from Unione Fiduciaria SPA: the real cost

When you send money abroad through Unione Fiduciaria SPA, the fee you see is rarely all of the cost. Besides a fixed fee, correspondent or intermediary banks can take a cut, and when the money changes currency the bank often applies a rate that is less favourable than the actual market rate.

Many banks do not list their exchange rate markup separately. Compare their rate against the mid-market rate.

Money transfer services frequently offer a rate near the mid-market rate with clearer fees. On GoldexPay we compare what recipients receive with different services. You can always keep your account at Unione Fiduciaria SPA as the source of the money.

What the XXX in UNFUITM1XXX means

The structure of a BIC is always the same: four characters for the institution, a two-letter country code and a two-character location code, plus an optional branch code. For Unione Fiduciaria SPA, the 8-character core is UNFUITM1.

The long version has a three-character extension that identify a branch or department. When those three characters are XXX, they simply mean the head office, so UNFUITM1XXX and UNFUITM1 are interchangeable.

Leave out spaces, dots when you enter UNFUITM1 or UNFUITM1XXX. Pasting the code beats typing it by hand: a typo can point to another bank.

Unione Fiduciaria SPA: head office code versus branch codes

Having 2 codes, Unione Fiduciaria SPA is one of the banks that use individual codes for branches and departments. The head office code remains UNFUITM1XXX.

If nobody asks you for a branch code, go with UNFUITM1XXX or its short form UNFUITM1. If you have been given a specific code, stick to it instead of swapping it with the head office code.

When in doubt, ask the person you are paying which code their bank gave them. Branch codes are sometimes changed or retired when banks reorganise.

Sending EUR to Unione Fiduciaria SPA

The currency in Italy is the Euro (EUR). Money sent in a different currency is converted into EUR on its way to Unione Fiduciaria SPA – and the bank that does it picks the rate. You rarely see a separate charge for that conversion.

Where the conversion happens has an effect on how much arrives. In many cases you pay less if you send EUR directly via a transfer service with a good rate rather than letting the receiving bank convert.

Exchange rates move all the time. On larger amounts, even seemingly small difference in the rate can be worth more than the fee.

Getting paid from abroad into a Unione Fiduciaria SPA account

When you are waiting for a payment from another country, give the sender a complete set of details. That means: your full name exactly as it appears on the account, your account number or IBAN, the BIC UNFUITM1XXX (or UNFUITM1) and usually your address.

Their bank might also ask for the address of your bank; the head office in Milano is usually fine. A typo in the IBAN can be more trouble than you might think.

Money from abroad does not always arrive for the full amount. Correspondent banks can take a fee and your own bank may charge for processing, and if the money is converted, an exchange rate margin applies. Make clear with the sender who pays which costs before the money is sent.