Banco Cooperativo Espanol S.A. SWIFT/BIC code

What BCOEESMM means for a payment to Banco Cooperativo Espanol S.A.

The 8-character code BCOEESMM and the 11-character code BCOEESMMXXX identify one and the same institution: Banco Cooperativo Espanol S.A., with its head office in Madrid. A SWIFT code shows the sending bank which institution should receive the money, a bit like a postal address for banks. In daily life you mostly see the code on international invoices, in payment forms and on the account details that Banco Cooperativo Espanol S.A. provides.

Further down you will find the practical questions: receiving money at Banco Cooperativo Espanol S.A., sending money abroad and how to verify a SWIFT code before you confirm a payment. The SWIFT code on its own does not identify an individual account holder; that is what the IBAN or account number is for.

Euro transfers to Banco Cooperativo Espanol S.A.: is a BIC needed?

Spain is part of the SEPA area, where euro transfers follow common rules. For a standard euro transfer from another SEPA country, you normally only need the IBAN and the BIC is often filled in automatically.

The BIC still come into play for payments in other currencies and when the money comes from outside SEPA. If your banking app asks for the BIC regardless, adding BCOEESMM does no harm.

Instant euro transfers are increasingly available across SEPA; check with Banco Cooperativo Espanol S.A. whether it applies to your account. Provided no currency is converted, the transfer is cheap.

When will the money arrive at Banco Cooperativo Espanol S.A.?

There is no single answer for international payments: some arrive the same day or the next. Payments made after the cut-off time or just before a weekend or public holiday often go out a business day later. Compliance checks by one of the banks can also cause a delay, even when all details are correct.

If the money is delayed, ask the sending bank about the tracking status or the UETR. Save your transfer receipt until the money has arrived.

A delayed transfer has to be traced by the sending bank. Request from the sender a copy of the payment confirmation including the reference.

Where our SWIFT data comes from

We collect bank codes from public sources and update our list from time to time. Even so, banks merge or change codes and our data may lag behind. Counts and locations are from our directory and may differ from what Banco Cooperativo Espanol S.A. publishes.

Treat our directory here as a handy check. We are an independent comparison site for money transfers and not affiliated with Banco Cooperativo Espanol S.A.. Found outdated information? Let us know via our contact form so we can correct it.

Watch out for payment fraud

Stay alert if a contact unexpectedly asks you to pay into a different account abroad. That BCOEESMM is a real code does not mean that the account is genuine; criminals use the codes of real banks too.

Never trust contact details in the same message that contains the new account. Watch out for urgent requests, odd spelling or an email address that differs by one letter. Already paid? Contact your bank straight away and have them try to recall the payment.

Recipients are targeted too: a classic trick is an overpayment followed by a request to refund the difference abroad. A screenshot of a transfer is no proof.

Head office or branch code at Banco Cooperativo Espanol S.A.?

With 2 codes, Banco Cooperativo Espanol S.A. is one of the banks that use separate codes for parts of the organisation. The main code remains BCOEESMMXXX.

For the vast majority of incoming transfers, the head office code BCOEESMMXXX is the right choice. Just use a branch code when the account holder explicitly asks for it, for example on an invoice or in their bank details.

If you are not sure, check with the recipient for the exact BIC in their bank details. Branch codes are more likely to change than BCOEESMMXXX when a bank merges or closes offices.

What to give a sender who pays you at Banco Cooperativo Espanol S.A.

To receive an international payment into your account at Banco Cooperativo Espanol S.A., the person paying you needs not just the BIC. In practice that means: your name as registered with Banco Cooperativo Espanol S.A., your account number or IBAN, the SWIFT/BIC code BCOEESMMXXX and sometimes your postal address.

Certain banks also ask for the address of Banco Cooperativo Espanol S.A. in Madrid; it does no harm to include it. A typo in your account number is harder to fix than it looks, so copy the details from your online banking.

Expect that the incoming amount is smaller than what the sender paid. Charges on incoming payments vary per bank; check the price list of Banco Cooperativo Espanol S.A.. Agree with the sender who covers the fees.

Paying someone abroad from your Banco Cooperativo Espanol S.A. account

A bank transfer abroad costs rather more than the fee suggests. There is the fee for the transfer itself, sometimes charges from correspondent banks in between and, most importantly, the exchange rate markup.

The markup on the rate tends to be the biggest item, and it is easy to miss. Check the rate you are offered with the mid-market rate, the midpoint between buy and sell rates you see on financial sites.

Money transfer services frequently use rates closer to the mid-market rate. GoldexPay compares these services next to each other so you can see the amount the recipient gets before you commit. Using a transfer service does not mean leaving Banco Cooperativo Espanol S.A.: you simply pay the service from your account.

Is BCOEESMM still correct? How to check

Ask the recipient to send you the account details straight from a recent statement. Check it against BCOEESMM on this page; if they differ, ask before you pay.

Errors in the SWIFT code are costly more than disastrous. A mistake in the IBAN or account number can be more serious, because the money may be credited to someone else; check it just as carefully.

An automatic check in your banking app only confirms that the IBAN exists – not that it belongs to the person you mean to pay. Where available, a payee name check on the recipient adds extra certainty. A small test payment is worth it for large sums, even if it costs an extra fee.

BCOEESMM or BCOEESMMXXX – which one to use?

Each SWIFT/BIC code has the same eight core characters: a four-letter bank code, two letters for the country and a two-character location code. Combined, these eight characters form BCOEESMM, the code most people search for.

XXX at the end of BCOEESMMXXX is not a placeholder or a mistake: it indicates the head office of Banco Cooperativo Espanol S.A.. Some forms insist on 11 characters, in which case you can enter XXX after BCOEESMM.

Do not add spaces when you enter BCOEESMM. Watch for O versus 0 and I versus 1; they are easy to mix up.

Euro (EUR) and conversion costs

Spain uses the Euro. If you send another currency, the amount has to be converted at some point – by your bank, by Banco Cooperativo Espanol S.A. or by a bank in between. Each conversion eats into the amount – usually through the rate rather than a fee.

Who converts the money makes a difference, because each party uses its own rate. Transferring the amount already in EUR often avoids an extra conversion – as long as your own rate is good.

The EUR rate fluctuates constantly, so the amount you see is usually only valid for a short time. With bigger transfers, even seemingly small gap in the rate can be worth more than the fee.