Mistral Pay LTD SWIFT/BIC code

What MIPYMTM1 means for a payment to Mistral Pay LTD

The 8-character code MIPYMTM1 and the 11-character code MIPYMTM1XXX identify one and the same institution: Mistral Pay LTD. The code does one job: it makes sure that a cross-border transfer reaches the right bank. You will need it mainly for transfers between countries and payments in foreign currencies.

Further down you will find the practical questions: money coming in from abroad, paying someone in another country and how to check a SWIFT code before you hit send. The BIC names a bank or branch, never a single account, which is why you always need the account number too.

Do you need MIPYMTM1 for a SEPA transfer?

Because Malta is part of the SEPA zone, a euro payment to Mistral Pay LTD from another SEPA country normally requires just the IBAN. Most banking apps no longer ask for the BIC for these payments or fill it in for you.

You still need MIPYMTM1XXX when sending payments in other currencies or transfers from countries outside SEPA. A few banks and apps still ask for the BIC; if so, fill in MIPYMTM1.

Instant payments in euros are widely supported across SEPA. As long as no currency is converted, the transfer tends to be cheap.

Before you send: check the Mistral Pay LTD code

Have the recipient copy the bank details directly from their banking app. If the code you have does not match MIPYMTM1 or MIPYMTM1XXX, do not guess: check with the recipient or with Mistral Pay LTD directly.

With a wrong code, the payment may get stuck, be returned or end up costing more. Remember the IBAN: an error there can be more difficult to undo than a wrong BIC.

A validity check by your bank only tells you that the IBAN is valid, not that it is the right account. If your bank offers it, a payee name check before sending gives extra certainty. When you pay someone new, many people start with a small amount first.

Watch out for payment fraud

Criminals regularly send payment requests with changed bank details, sometimes in an email that looks completely genuine. That MIPYMTM1 is a real code is no guarantee that a request mentioning it is legitimate.

Check new payment details through a separate channel like a call to a number from an earlier contract. Pressure or requests to keep it quiet tend to be red flags; a genuine business can wait for you to check. Already paid? Contact your bank straight away and have them try to recall the payment; also report it to the police.

People receiving money can be targeted as well: one known trick is a buyer who pays too much and then sends a request to refund the difference abroad. Wait until the money is actually in your account.

What a transfer from Mistral Pay LTD abroad really costs

When you send money abroad through Mistral Pay LTD, the visible fee is only part of what you pay. You pay the fee for the transfer itself, sometimes charges from correspondent banks along the way and, above all, the exchange rate markup.

That exchange rate margin is often the biggest cost even though it is not listed as a fee. A simple test: set the bank’s rate against the mid-market rate and look at the difference.

For many currency pairs, a transfer service turns out to be less expensive than a traditional bank transfer – mostly thanks to the rate. GoldexPay lists transfer providers next to each other, showing the amount the recipient gets for the same amount sent. Using a transfer service does not require leaving Mistral Pay LTD: you simply pay the service from your account.

Where our SWIFT data comes from

We collect SWIFT/BIC codes using publicly available data and update them regularly. Still, banks merge or retire codes, so information can be out of date. Counts and locations come from our directory and may differ from what Mistral Pay LTD publishes.

Before a payment that matters, confirm the BIC with the recipient’s bank or with the recipient. GoldexPay is a comparison site for money transfers and not part of Mistral Pay LTD. If you notice something that is out of date, we appreciate a message.

Receiving money from abroad at Mistral Pay LTD

If you are waiting for a payment from another country, send the payer everything they need in one go. That means: your name exactly as it appears on the account, your IBAN or account number, the BIC MIPYMTM1XXX and, often, your address.

You can add Mistral Pay LTD and its city too, since some forms ask for it. A typo in your account number can be harder to fix than you might think.

Money from abroad does not always land in full. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin comes on top. Agree with the sender who covers the fees before the money is sent.

Head office or branch code at Mistral Pay LTD?

Mistral Pay LTD uses 2 separate SWIFT/BIC codes across 1 locations. One of them is the head office code, MIPYMTM1XXX; the rest identify branches, and sometimes specific services.

In most cases you do not need to pick a branch: payments addressed to MIPYMTM1XXX are routed within Mistral Pay LTD without problems. When you receive a specific code, use it as it is rather than swapping it for the head office code.

Unsure which code to use? Check with the recipient, or look at a recent statement from Mistral Pay LTD. Codes for branches are more likely to change than the head office code.

When will the money arrive at Mistral Pay LTD?

There is no single delivery time for international payments: some land within a day while others need several business days. Bank holidays in the sending or receiving country add a day or more to the journey. Extra checks by one of the banks may also cause a delay.

A growing number of banks are connected to SWIFT gpi. Each gpi transfer gets a unique reference, the UETR. Keep your transfer receipt until the money has arrived; it contains the details a bank needs to start a trace.

Only the sending bank is able to request a trace or a recall. Ask the sender for the payment receipt including the reference.

MIPYMTM1 or MIPYMTM1XXX – which one to use?

The structure of a BIC is always the same: four characters for the institution, two for the country and two for the location, sometimes followed by a branch code. That gives you MIPYMTM1 for Mistral Pay LTD.

Most banks and apps accept both lengths. If a form asks for eleven characters, enter MIPYMTM1XXX.

Leave out spaces or dashes when you type MIPYMTM1. Pasting the code beats typing it by hand: a typo can point to another bank.

Sending EUR to Mistral Pay LTD

Malta uses the Euro. When you pay another currency, the amount has to be converted at some point: by your bank, an intermediary or Mistral Pay LTD itself. Every conversion costs something.

Where the conversion happens affects the final amount. Transferring the money directly in EUR usually prevents an extra conversion at the receiving end, provided the rate you get is fair.

Rates for EUR change during the day. On larger amounts, even seemingly small difference in the rate can be worth more than the fee.