Banco Mare Nostrum, S.A. SWIFT/BIC code

Banco Mare Nostrum, S.A. SWIFT code: GBMNESMM

GBMNESMM and GBMNESMMXXX are two ways of writing the same bank identifier, and both point to Banco Mare Nostrum, S.A. in Madrid. A SWIFT code tells the banks handling a payment exactly which bank should receive the money, much like a postcode for banks. In practice you mostly see it on invoices from abroad, in your banking app and on the account details that Banco Mare Nostrum, S.A. provides.

This page is meant to help people who receives money at an account at Banco Mare Nostrum, S.A. without mistakes. The SWIFT code on its own cannot identify an individual account holder; for that you need the IBAN or account number is for.

What a transfer from Banco Mare Nostrum, S.A. abroad really costs

When you transfer money to another country from Banco Mare Nostrum, S.A., the fee you see is only part of the cost. On top of the transfer fee, correspondent or intermediary banks may deduct a fee, and when currencies are converted, the bank often applies a rate that is less favourable than the real market rate.

Most of the cost usually sits in the exchange rate: many banks convert using an exchange rate with a margin built in. An easy check: put the bank’s rate against the mid-market rate for the same moment and work out the difference on your amount.

For many currency pairs, a specialist provider turns out to be less expensive than a bank. Next time you send money, it is worth comparing the total cost on GoldexPay rather than accepting the bank’s rate by default. You can always keep your account at Banco Mare Nostrum, S.A., while a cheaper service handles the conversion.

Receiving money from abroad at Banco Mare Nostrum, S.A.

To receive an international payment at Banco Mare Nostrum, S.A., the sender needs more than the BIC. That means: your full name exactly as it appears on the account, your account number or IBAN, the SWIFT/BIC code GBMNESMMXXX (or GBMNESMM) and, often, your address.

Certain banks want the bank’s address; it does no harm to include it. A typo in the IBAN is more trouble than it looks; copy them from your banking app rather than typing.

Money from abroad will not always land for the full amount. Intermediary banks may deduct a fee and your own bank may charge for processing, and if the currency changes, a markup on the rate comes on top. Make clear with the sender who pays which costs before the money is sent.

Why Banco Mare Nostrum, S.A. has an 8- and an 11-character code

Each SWIFT/BIC code starts with the same eight core characters: four letters for the bank, two letters for the country and a two-character location code. In this case, that core is GBMNESMM.

XXX at the end of GBMNESMMXXX does not stand for a placeholder or a mistake: it stands for the main office of Banco Mare Nostrum, S.A.. Some forms insist on 11 characters, and then you can add XXX after GBMNESMM.

Type the code in one piece, in upper case and without spaces, exactly as shown here. A wrong letter may route the money to another bank.

How long does an international transfer to Banco Mare Nostrum, S.A. take?

An international transfer usually needs one to a few business days, depending on the currency, the route and the banks involved. Bank holidays in the sending or receiving country can add a day or more to the journey. Occasionally a bank wants to know what the payment is for, which can hold things up.

When a payment takes longer than expected, contact your bank for the status and the transaction reference; with that reference banks can see where the payment is. Specialist transfer services usually show a status in their app so you can see how far the payment is.

Only the sending bank is able to start an official trace or a recall; the receiving side usually has nothing to trace yet. Request from the sender a copy of the payment confirmation including the reference – it helps your own bank look for the money.

Changed bank details? Be careful

One of the most common tricks works like this: an email arrives with a request claiming that a company has new bank details. A real SWIFT code says nothing about who owns the account – scammers simply use real codes.

Never rely on a phone number from the same email that announces the new account. Watch out for time pressure, odd spelling or an email address that differs by one letter. If a payment has already gone to the wrong account, contact your bank immediately: the sooner they act, the better the chance of a recall.

People receiving money can be targeted as well: one known trick is a buyer who pays too much followed by a request to refund the difference. A payment confirmation from the sender is no proof – check your own account.

Do you need GBMNESMM for a SEPA transfer?

Within the SEPA zone, euro payments to Banco Mare Nostrum, S.A. follow common rules, so the IBAN does the job in most cases. The BIC field is often optional for those payments.

You will still need GBMNESMMXXX for payments in other currencies or transfers from countries outside SEPA. A few forms still ask for the BIC out of habit; in that case, fill in GBMNESMM.

Instant euro transfers are increasingly available within SEPA; check with Banco Mare Nostrum, S.A. whether it applies to your account. As long as no currency is converted, the transfer is cheap.

Euro (EUR) and conversion costs

The local currency in Spain is the Euro (EUR). Money sent in a different currency is converted into EUR on its way to Banco Mare Nostrum, S.A. – and the bank that does it picks the rate. Each conversion costs the amount, even when no fee is shown.

Where the conversion happens has an effect on how much arrives, as rates and margins differ per bank. Check what EUR arrives with several providers; the difference between options can be larger than you expect.

The EUR rate fluctuates constantly. For regular payments, small differences in the rate make a real difference over a year.

How to check GBMNESMM before you pay

Ask the recipient to copy the account details straight from their banking app. If the code you have does not match GBMNESMM or GBMNESMMXXX, stop and ask – contact the recipient or Banco Mare Nostrum, S.A..

Mistakes in the SWIFT code are annoying rather than disastrous. A mistake in the IBAN or account number is more serious; check it just as carefully.

A format check by your bank only confirms that the IBAN exists – not that it belongs to the person you mean to pay. More and more banks check the payee name with the account before you confirm – do not ignore a mismatch warning. When you pay someone new, many people send a small amount first before sending the rest.

About this information

The codes on this page are taken from publicly available data which we refresh regularly. Still, banks merge or retire codes and our data may lag behind. The figures on this page reflect what is in our directory and not on information from Banco Mare Nostrum, S.A. itself.

Treat the information on this page as a handy check. GoldexPay has no connection to Banco Mare Nostrum, S.A.; we are a comparison site for money transfers. Found outdated information? Let us know through the contact page and we will look into it.

Choosing between the 2 SWIFT codes of Banco Mare Nostrum, S.A.

Banco Mare Nostrum, S.A. has 2 different SWIFT/BIC codes. One of them is the head office code; the others belong to branches.

Usually you do not need to pick a branch: payments addressed to GBMNESMMXXX are routed within Banco Mare Nostrum, S.A. correctly. A branch code only makes sense if the recipient’s bank explicitly asks for it, which is more common for business accounts and trade services.

Unsure which code to use? Check with the recipient or the bank itself. Codes can change over time, so a code from an old document is not always valid.