Volkswagen Bank GMBH SWIFT/BIC code

SWIFT/BIC code of Volkswagen Bank GMBH

VOWAITMM and VOWAITMMXXX are the short and the long form of the same bank identifier, and both point to Volkswagen Bank GMBH in Milano. The code has a single purpose: it makes sure that money from abroad reaches the right bank. In daily life you mostly see it on international invoices, in payment forms and on the account details that Volkswagen Bank GMBH provides.

On this page we explain how the code means, when it matters and which other details a transfer to or from Volkswagen Bank GMBH requires. Keep in mind that the SWIFT code just identifies the bank, not the account: the account number or IBAN does that part.

About this information

This directory is compiled from public sources and is updated regularly. Banks merge, change names and change codes – a directory can be a step behind. The figures on this page are based on our own data and not on information from Volkswagen Bank GMBH itself.

Treat our data as a reference, rather than as the final word. We are a comparison service for money transfers and not part of Volkswagen Bank GMBH. Spotted outdated information? Tell us via our contact form.

Why Volkswagen Bank GMBH has an 8- and an 11-character code

A SWIFT code is made up of fixed blocks: characters one to four stand for the bank, characters five and six give the country and characters seven and eight mark the location. Together, these eight characters make up VOWAITMM, the code most people search for.

XXX at the end of VOWAITMMXXX is not a missing value or a mistake: it indicates the head office of Volkswagen Bank GMBH. Certain payment forms ask for 11 characters, and then you simply add XXX behind VOWAITMM.

As a rule the code is written in capitals and without spaces. A single letter can send a payment to a different institution, so check it twice.

Paying Volkswagen Bank GMBH in euros within SEPA

Inside SEPA, euro transfers to an account in Italy use the same rules, so the IBAN does the job in most cases. A field for the BIC is usually optional or missing for those payments.

A SWIFT code like VOWAITMM still come into play for payments in other currencies. Some banks and apps still show a field for the BIC out of habit; if so, fill in VOWAITMM or VOWAITMMXXX.

Instant euro transfers are increasingly available across SEPA – whether Volkswagen Bank GMBH offers them for your account is worth checking. Fees for SEPA payments are generally low as long as everything stays in euros.

Receiving money from abroad at Volkswagen Bank GMBH

Someone abroad who wants to pay you will ask for several details about your account. Give them your name as the bank knows it, your account number or IBAN, the BIC VOWAITMMXXX and your address.

Their bank might also ask for the bank address of Volkswagen Bank GMBH, in which case the Milano head office is the usual answer. A mistake in your account number can be more trouble than it looks; copy them from your banking app rather than typing.

The amount you receive is often lower than the amount sent. Fees for incoming transfers vary from bank to bank – the price list of Volkswagen Bank GMBH tells you what applies. On invoices, you can agree how the fees are split.

Before you send: check the Volkswagen Bank GMBH code

Have the recipient send you their account details straight from a recent statement. Check that code against VOWAITMM on this page; if they differ, ask before you pay.

With a wrong code, the payment may be delayed, bounce back or cost extra, and tracing it can take weeks. A mistake in the account number is a bigger problem, so check that just as carefully.

Most online banking apps validate the format of an IBAN, but that does not prove the account belongs to the right person. Some banks now compare the name against the account. A small test payment can be a sensible step for large sums, even if it costs an extra fee.

Euro (EUR) and conversion costs

Italy uses the Euro, with the currency code EUR. A payment in a foreign currency is converted into EUR before it reaches the account. Every conversion costs the amount – usually through the rate rather than a fee.

Which bank converts the money matters, because each party uses its own rate. In many cases it is cheaper to send EUR directly through a provider with a good rate, so that the receiving bank does not need to convert again.

Exchange rates move during the day. For regular payments, a slightly better rate make a real difference over a year.

When will the money arrive at Volkswagen Bank GMBH?

How fast a payment arrives at Volkswagen Bank GMBH is determined by several factors: the currency, how many intermediary banks are involved, cut-off times and differences in time zone. Bank holidays in the sending or receiving country can add a day or more to the journey. Sometimes a bank asks about the purpose of a payment.

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 your transfer receipt until the recipient confirms.

If a payment has not arrived within the expected time, the person who paid should start with the bank that sent it, not the receiving bank. Ask the sender for a copy of the payment confirmation with the date and reference; that often settles the question quickly.

Which of the 2 codes of Volkswagen Bank GMBH do you need?

With 2 codes, Volkswagen Bank GMBH is one of the banks that register separate codes for parts of the organisation. The main code remains VOWAITMMXXX.

If nobody asks you for a branch code, use VOWAITMMXXX. If you have been given a specific code, stick to it instead of replacing it with the head office code.

Not sure which code to use? Ask the recipient. Branch codes are more prone to change than the head office code.

What a transfer from Volkswagen Bank GMBH abroad really costs

When you send money abroad from Volkswagen Bank GMBH, the fee you see is only part of the cost. You pay the transfer fee, possibly charges from correspondent banks in between and, above all, the margin on the exchange rate.

The real cost is often in the rate, not in the fee: the bank converts using an exchange rate that includes a margin. Check their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites.

Specialised transfer providers often offer rates closer to the mid-market rate with clearer fees. On GoldexPay we compare what recipients receive across providers, so you can pick the cheapest route. You can always keep your account at Volkswagen Bank GMBH.

Watch out for payment fraud

One of the most common tricks works like this: you receive a message saying that a company now has new bank details. The fact that VOWAITMM exists is no guarantee that a request mentioning it is genuine; criminals use the codes of real banks too.

Never trust a phone number in the same message that announces the change. Watch out for time pressure, odd spelling or an email address that differs by one letter. When a payment has already gone to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

Scams can also work the other way. Someone claims to have sent too much and wants you to refund the extra via a different route. A screenshot of a transfer proves nothing – check your own account.