Nya Marknaden SWIFT/BIC code

XSNMSES1 – the SWIFT/BIC code of Nya Marknaden

XSNMSES1 and XSNMSES1XXX are the short and the long form of the same SWIFT/BIC code, and both lead to Nya Marknaden in Stockholm. The code does one job: it ensures that money from abroad ends up at the right bank. In daily life you mostly see it on international invoices, in your banking app and on the account details of Nya Marknaden customers.

We wrote this page to help anyone who receives money at an account at Nya Marknaden without mistakes. The BIC names a bank or branch, never a specific account, which is why you always need the account number too.

How up to date is this code?

We collect bank codes using publicly available data and update our list regularly. Banks merge, change names and change codes, and a directory never catches every change immediately. Figures such as the number of codes come from our directory.

For any payment of any size, check the BIC with Nya Marknaden or with the recipient. We are an independent comparison site and not part of Nya Marknaden. Should you notice something that is out of date, we appreciate a short note.

XSNMSES1 or XSNMSES1XXX – which one to use?

The layout of a BIC is always the same: four characters for the institution, two for the country and a two-character location code. The result is XSNMSES1.

Many banks and apps accept both lengths. If a form requires eleven characters, enter XSNMSES1XXX, otherwise XSNMSES1 is fine.

Enter the code as one block, in capitals and without spaces, exactly as shown here. Watch for the letter O and the digit 0 or I versus 1, a common source of typos.

Transfer times and tracking a payment to Nya Marknaden

There is no single delivery time: some land the same day or the next while others need several business days. Payments made late in the day or just before a weekend or public holiday usually start the next business day. Occasionally a bank wants to know what the payment is for before releasing it.

Many banks are connected to SWIFT gpi. Every gpi transfer gets a unique transaction reference, the UETR. Save the payment confirmation until the recipient confirms – you will need it for any trace request.

A missing payment has to be traced from the sending side on the basis of the transfer details. As a recipient, it helps to look at your account to see a slightly lower amount.

Changed bank details? Be careful

Be wary when someone suddenly wants you to pay into another account abroad. The fact that XSNMSES1 exists does not mean that a request mentioning it is legitimate – fraudsters use real bank codes as well.

Never trust a phone number in the same message that contains the change. Urgency and secrecy are red flags; a genuine business can wait for you to check. Already paid? Call your bank without delay and have them try to recall the payment; also report it to the police.

Scams can also work the other way: someone sends too much and wants you to return the difference. A screenshot of a transfer proves nothing; only your own account shows what has arrived.

Paying into Nya Marknaden in SEK

Sweden uses the Swedish Krona. Money sent in a different currency is exchanged into SEK, and whoever converts it chooses the rate. There is rarely a separate line for that conversion.

Where the conversion happens affects the final amount, as rates and margins differ per bank. In many cases you pay less to send SEK directly through a provider that converts near the mid-market rate.

Rates for SEK change all the time. If you pay regularly, small differences in the rate add up over a year.

Which of the 2 codes of Nya Marknaden do you need?

With 2 codes, Nya Marknaden is one of the banks that use separate codes for parts of the organisation. The main code remains XSNMSES1XXX.

In most cases there is no need to pick a branch: transfers addressed to XSNMSES1XXX reach Nya Marknaden without problems. If you have been given a specific code, use it as it is instead of replacing it with the head office code.

Not sure which code to use? Ask the recipient or the bank itself. Codes are sometimes changed or retired over time, so a code from an old document is not always valid.

Euro transfers to Nya Marknaden: is a BIC needed?

Sweden 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.

A SWIFT code like XSNMSES1 still come into play for payments in other currencies. If a payment form has a field for the BIC anyway, adding XSNMSES1 is fine.

Instant euro transfers have become increasingly available across SEPA; check with Nya Marknaden whether it applies to your account. As long as no currency is converted, the transfer tends to be cheap; costs rise once a conversion is involved.

Receiving money from abroad at Nya Marknaden

A sender in another country needs several details from you, and missing ones are a common cause of delays. The basics are: the account holder’s name, IBAN or account number, XSNMSES1XXX or XSNMSES1 and, for some countries, your home address.

Some sending banks also ask for the name and address of Nya Marknaden in Stockholm; it does no harm to include it. Double-check every detail before you share them.

Money from abroad will not always arrive for the full amount. Correspondent banks can take a fee, and when currencies differ, a markup on the rate applies. For business payments, it is common to state who bears the costs, so that nobody is left short.

International transfers from Nya Marknaden: the real cost

What you pay for a payment abroad has more than one component. You pay the fee for the transfer itself, sometimes fees charged by intermediary banks in between and, above all, the exchange rate markup if the currency changes.

Banks do not list their exchange rate markup as a cost. A simple test: put the bank’s rate against the mid-market rate and look at the difference.

For many routes, a specialist provider is cheaper than a traditional bank transfer, mainly because of the exchange rate. On GoldexPay we compare what recipients receive with different services, so you can pick the cheapest route. You can always keep your account at Nya Marknaden; only the conversion and sending happen elsewhere.

Is XSNMSES1 still correct? How to check

The most reliable place for the correct BIC remains a document from the bank itself, such as a statement or the account details in online banking. Check it against XSNMSES1 here; if they differ, ask before you pay.

Mistakes in the SWIFT code are costly more than disastrous: often the payment comes back, minus fees. An error in the account number is more serious, so check that just as carefully.

A validity check by your bank merely confirms that the code exists, not that it is the right account. Some banks now compare the payee name against the account; take any warning seriously. When you pay someone new, some people start with a small test amount and wait for confirmation.