Targobank,s.a. SWIFT/BIC code

CMCIESA1 – the SWIFT/BIC code of Targobank,s.a.

The 8-character code CMCIESA1 and the full code CMCIESA1XXX refer to the same bank: Targobank,s.a. in Madrid, Spain. The code does one job: it ensures that a cross-border transfer reaches the right bank. You will need it mainly when dealing with transfers between countries.

On this page we explain what the code is put together, when it matters and what else you need for a transfer to or from Targobank,s.a.. Keep in mind that the BIC only identifies the bank, not the person: the IBAN or account number takes care of that.

Paying someone abroad from your Targobank,s.a. account

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

Most of the cost usually sits in the exchange rate, rather than in the fee: the bank converts at a rate with a margin built in. Check their rate against the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

For a lot of routes, a specialist provider is cheaper than a bank, mainly because of the exchange rate. On GoldexPay we compare what recipients receive across services, so you can pick the cheapest route. Choosing a specialist does not require closing your account at Targobank,s.a. – you pay the provider from your own account.

Tracking a transfer to or from Targobank,s.a.

How quickly a transfer arrives at Targobank,s.a. depends on several factors: the currency, how many intermediary banks are involved, cut-off times and time zones. Weekends and public holidays in either country can add extra days, since banks do not process on those days. Sometimes a bank wants to know about the purpose of a payment.

A growing number of banks are connected to SWIFT gpi. Every payment carries a unique reference, the UETR. Money transfer services often provide tracking online so you can see how far the payment is.

If a payment has not arrived after a few business days, the sender needs to contact the bank that sent it rather than Targobank,s.a.. On the receiving end, you can check your account to see a partial amount.

Paying into Targobank,s.a. in EUR

The national currency of Spain is the Euro (EUR). When you pay money in a different currency it has to be converted somewhere along the way – by your bank, by Targobank,s.a. or by a bank in between. Each conversion costs the amount, even when no fee is shown.

Who converts the payment makes a difference. Sending the money already in EUR usually avoids an extra conversion at the receiving end, provided the rate you get is fair.

Rates for EUR move all the time – some services let you fix a rate in advance. With bigger transfers, even small gap in the rate can be worth more than the fee.

A note on our data

The details on this page are taken from publicly available data. It can happen that information on this page is out of date, for example after a merger. The figures we show reflect what is in our directory.

For any payment that matters, always confirm the code with Targobank,s.a. or with the recipient. GoldexPay is a comparison service and not part of Targobank,s.a.. Found an error? Let us know through the contact page so we can correct it.

CMCIESA1 or CMCIESA1XXX – which one to use?

The layout of every SWIFT code is always the same: a bank code of four letters, two for the country and a two-character location code, plus an optional branch code. In this case, that core is CMCIESA1.

XXX at the end of CMCIESA1XXX is not a placeholder or a mistake: it indicates the main office of Targobank,s.a.. Certain payment forms ask for 11 characters, and then you can add XXX after CMCIESA1.

Enter the code as one block, in capitals and without separators. Pasting the code is safer than retyping it: a typo can point to another bank.

Head office or branch code at Targobank,s.a.?

With 2 codes in 1 locations, Targobank,s.a. belongs to the banks that use individual codes for parts of the organisation. The head office code is CMCIESA1XXX.

For the vast majority of incoming transfers, the head office code CMCIESA1XXX is the right choice. Just use a branch code when the account holder gives you that exact code.

When in doubt, check with the recipient which code their bank gave them. Branch codes are more prone to change than CMCIESA1XXX when a bank merges or closes offices.

What to give a sender who pays you at Targobank,s.a.

For a transfer from abroad into your account at Targobank,s.a., the sender has to have more than the BIC. What they need is: your name, IBAN or account number, CMCIESA1XXX and in many cases your home address.

Their bank may request the address of your bank, in which case the Madrid head office is the usual answer. A mistake in your account number can be harder to fix than you might think, so copy the details from your online banking.

What lands in your account can be lower than the amount sent. Correspondent banks can take a fee, Targobank,s.a. may charge for incoming payments, and when currencies differ, a markup on the rate applies. Agree with the sender who covers the fees, especially for larger amounts.

Protect yourself against fake payment requests

Be wary when a contact suddenly wants you to send money to another account abroad. A valid SWIFT code says nothing about whether the request is genuine – scammers simply use real codes.

Never rely on a phone number from the same email that announces the change. Urgency or requests to keep it quiet tend to be warning signs. Already paid? Call the bank you paid from straight away and ask them to try to recall the payment.

Fraud also target the receiver: someone claims to have sent too much and wants you to return the difference via a different route. A screenshot of a transfer is no proof.

Euro transfers to Targobank,s.a.: is a BIC needed?

Spain is a member of the Single Euro Payments Area (SEPA), where euro transfers follow common rules. When you send euros within SEPA, you normally only need the IBAN and the BIC is often filled in automatically.

You will still need CMCIESA1XXX when sending non-euro payments or transfers from countries outside SEPA. If a payment form has a field for the BIC regardless, adding CMCIESA1 is fine.

Instant euro transfers have become widely supported within SEPA – whether Targobank,s.a. offers them for your account is worth checking. Fees for SEPA payments are generally low, as long as no currency conversion is involved.

Verifying the SWIFT code of Targobank,s.a.

Ask the recipient to copy their bank details straight from their online banking. When the code you were given differs from CMCIESA1 or CMCIESA1XXX, stop and ask – contact the recipient or Targobank,s.a..

If the code is wrong, the transfer might be delayed, be returned or cost extra – sometimes after weeks of searching. A mistake in the account number is more serious, because the money may be credited to someone else; check it just as carefully.

Many banking apps validate the format of IBANs and some suggest the matching BIC – that confirms the format, not the owner. Some banks now compare the payee name with the account before you confirm; take any warning seriously. When you pay someone new, some people start with a small test amount before sending the rest.