Portigon AG SWIFT/BIC code

Portigon AG SWIFT code: WELAESMM

Whether you are given WELAESMM or WELAESMMXXX, you are looking at the identical identifier for Portigon AG in Spain. A SWIFT code tells the sending bank which institution should receive the money, much like a postcode for banks. You will need it mostly when dealing with payments that cross a border and payments in foreign currencies.

We wrote this page to help people who receives money at an account at Portigon AG. Keep in mind that the BIC only identifies the bank, not the person: the IBAN or account number takes care of that.

Where our SWIFT data comes from

This directory is compiled from publicly available sources. Institutions reorganise, close branches and retire codes. The figures we show reflect our own data, not official figures from Portigon AG.

Use our data as a starting point, not as the final word: the recipient’s bank details come first. GoldexPay has no connection to Portigon AG, we only compare transfer services. If you notice a mistake, we welcome a message via the contact page.

SEPA payments and the Portigon AG BIC

Spain is part of the SEPA area, the zone for uniform euro payments. When you send euros within SEPA, you normally only need the IBAN; many banks no longer ask for the BIC.

You will still need WELAESMMXXX when sending payments in other currencies or money from outside the SEPA area. If a payment form has a field for the BIC regardless, adding WELAESMM is fine.

SEPA transfers usually arrive within one business day; instant payments are faster if both banks offer them. Provided the payment stays in euros, the transfer is inexpensive.

Transfer times and tracking a payment to Portigon AG

How quickly a payment reaches Portigon AG depends on a few things: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Transfers sent after the cut-off time or on a weekend or public holiday often start the next business day. Compliance checks on larger or unusual payments can also add a delay.

Many banks are connected to SWIFT gpi for faster and traceable payments. Every payment gets a unique transaction reference, the UETR. Money transfer services often provide a status in their app showing where the payment has got.

If a payment has not arrived after a few business days, the sender needs to start with their own bank. Ask the sender for a copy of the payment confirmation including the reference; that often settles the question quickly.

What to give a sender who pays you at Portigon AG

If you expect money from abroad, send the payer everything they need in one go. The basics are: the account holder’s name, IBAN or account number, WELAESMMXXX and in many cases your postal address.

Some sending banks also ask for the name and address of Portigon AG in Madrid; it does no harm to include it. A mistake in the IBAN is more trouble than it looks.

Expect that the amount credited is smaller than what the sender paid. Correspondent banks can take a fee, Portigon AG may charge for incoming payments, and when currencies differ, a markup on the rate applies. Make clear with the sender who pays which costs before the money is sent.

Changed bank details? Be careful

Fraudsters regularly send payment requests containing changed bank details, sometimes in an email that looks completely genuine. The fact that WELAESMM exists does not mean that the account is legitimate; criminals use the codes of real banks too.

Before paying, verify changed bank details through a phone call. Pressure and secrecy are red flags – a real supplier can wait a day. If a payment was sent to the wrong account, contact your bank immediately.

Recipients can be targeted as well: a classic trick is a buyer who pays too much followed by a request to send back the difference to another account. A payment confirmation from the sender proves nothing – check your own account.

How to check WELAESMM before you pay

The most reliable place for the right code remains a document from the bank itself like a bank statement or the account page in online banking. If the code you have does not match WELAESMM or WELAESMMXXX, stop and ask.

With a wrong code, the transfer may be delayed, be returned or cost extra, and tracing it can take weeks. Do not forget the IBAN: a mistake there is more difficult to correct than a wrong BIC.

Most online banking apps validate the format of IBANs and sometimes look up the BIC automatically – that confirms the format, not the owner. More and more banks check the payee name against the account – do not ignore a mismatch warning. Sending a small amount first is worth it for a large first payment despite the extra fee.

Sending money abroad from Portigon AG

What you pay for an international transfer has more than one component. There is the transfer fee, sometimes charges from correspondent banks in between and, above all, the margin on the exchange rate.

The real cost is often in the rate, rather than in the fee: many banks convert using an exchange rate that includes a margin. A simple test: put the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

Money transfer services frequently use rates closer to the mid-market rate and lower fees. Next time you send money, it is worth to compare the total cost via GoldexPay instead of going straight to your bank. Choosing a specialist does not mean leaving Portigon AG: you simply pay the service from your account.

The Euro and what conversion costs you

The currency in Spain is the Euro (EUR). A payment in a foreign currency is exchanged into EUR before it reaches the account, and whoever converts it chooses the rate. Each conversion costs the amount.

Who does the conversion affects the final amount, as rates and margins differ per bank. Often it is cheaper if you send EUR straight away via a provider that converts near the mid-market rate.

The EUR rate fluctuates throughout the day and quotes are often valid only for a short time. On larger amounts, a small difference in the rate adds up quickly.

Which of the 2 codes of Portigon AG do you need?

We have 2 SWIFT/BIC codes for Portigon AG, spread over 1 cities. Next to the head office code WELAESMMXXX, you will find codes for regional offices and specialised units.

If nobody asks you for a branch code, use WELAESMMXXX or its short form WELAESMM. Only use a branch code when the account holder explicitly asks for it, for example on a letter or invoice.

The safest route is to take the code directly from the recipient’s statement. Codes are sometimes changed or retired over time.

8 or 11 characters: WELAESMM versus WELAESMMXXX

A BIC is built from a few fixed parts: characters one to four identify the bank, characters five and six show the country and characters seven and eight indicate the location. For Portigon AG, that core is WELAESMM.

The full version has a three-character extension for a branch or department. When those three characters are XXX, they simply mean the head office.

Do not add spaces or dashes when you type WELAESMM or WELAESMMXXX. Look out for the letter O and the digit 0 and I versus 1.