Migros Bank SWIFT/BIC code

MIGRCHZZ – the SWIFT/BIC code of Migros Bank

MIGRCHZZ and MIGRCHZZXXX are the short and the long form of the same bank identifier, and both lead to Migros Bank in Zurich. Every bank on the SWIFT network uses these codes to route payments between countries to the right institution. In practice you mostly come across it on international invoices, in payment forms and in the bank details that Migros Bank provides.

Below you will find the practical questions: receiving money at Migros Bank, paying someone in another country and how to verify the code before you confirm a payment. The SWIFT code on its own cannot identify an individual account holder; for that you need the account number or IBAN is for.

Watch out for payment fraud

A common scam works like this: an email arrives with a message claiming that a contact has a new bank account. The fact that MIGRCHZZ exists does not mean that a request mentioning it is legitimate – fraudsters use real bank codes as well.

Never trust a phone number from the same email that contains the change. Pressure or requests to keep it quiet tend to be red flags; a genuine business can wait for you to check. Acted too fast? Contact your bank without delay and ask them to try to recall the payment and report the fraud.

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

International transfers from Migros Bank: the real cost

If you send money abroad from Migros Bank, the visible fee is only part of what you pay. Besides a fixed fee, banks in between can deduct a fee, and if the money changes currency the bank usually applies a rate that is less favourable than the real market rate.

Many banks rarely show the margin on the rate separately, but you pay it all the same. Compare 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 offer rates closer to the mid-market rate. GoldexPay compares what recipients receive across services. Choosing a specialist does not require closing your account at Migros Bank.

Transfer times and tracking a payment to Migros Bank

An international transfer typically takes one to a few business days, depending on the currency, the route and the banks involved. Payments made late in the day or on weekends and holidays usually start a business day later. Sometimes a bank wants to know what the payment is for, which can hold things up.

If a transfer is late, ask your bank for the status or the UETR so they can trace it along the chain. Specialist transfer services often provide tracking in their app so you can see where the money is.

A delayed transfer has to be traced by the sending bank. As a recipient, it helps to check your account for a partial amount.

Paying into Migros Bank in CHF

The local currency of Switzerland is the Swiss Franc (CHF). Money sent in a different currency will be converted into CHF, and whoever converts it chooses the rate. Every conversion eats into the amount.

Where the conversion happens affects how much arrives. Often you pay less if you send CHF straight away through a transfer service that converts near the mid-market rate rather than letting the receiving bank convert.

Rates for CHF change during the day, and some providers let you lock in a rate. With bigger transfers, a seemingly small difference in the rate adds up quickly.

Incoming international payments to Migros Bank

To receive a transfer from abroad at Migros Bank, the person paying you has to have more than the SWIFT code. That means: your full name as registered with Migros Bank, your IBAN or account number, the BIC MIGRCHZZXXX (or MIGRCHZZ) and sometimes your address.

The sender’s bank might also ask for the address of your bank; the head office in Zurich is usually fine. Double-check the details before you share them, because the sender’s bank usually copies them as is.

Expect that the amount credited is below the amount on the sender’s receipt. Fees for incoming transfers differ per bank. Make clear with the sender who pays which costs.

Where our SWIFT data comes from

Our SWIFT/BIC directory is compiled from public sources. Institutions merge, close branches and change codes. The figures on this page reflect what is in our directory.

Use this page as a reference, rather than as the last word. GoldexPay is an independent comparison service and not affiliated with Migros Bank. Found an error? Tell us through the contact page.

How to check MIGRCHZZ before you pay

The most reliable place for the right code remains paperwork issued by the bank, such as a statement or the account details in online banking. Check it against MIGRCHZZ on this page and ask if anything does not match.

An incorrect BIC can cause delays, a returned payment or extra fees. Do not forget the IBAN: an error there is harder to undo than a wrong BIC.

An automatic check in your banking app only confirms that the code exists – not that it belongs to the person you mean to pay. Some banks now compare the name with the account before you confirm – do not ignore a mismatch warning. Sending a small amount first is worth it for large sums, even if it costs an extra fee.

Which of the 14 codes of Migros Bank do you need?

With 14 codes in 13 cities, Migros Bank belongs to the banks that register individual codes for parts of the organisation and departments. The main code is MIGRCHZZXXX.

In most cases you do not need to pick a branch: transfers sent to MIGRCHZZXXX are routed within Migros Bank correctly. Only use a branch code when the account holder gives you that exact code.

Unsure which code to use? Check with the recipient, or look at a recent statement from Migros Bank. Branch codes can change over time.

SEPA payments and the Migros Bank BIC

Within the SEPA zone, euro transfers to an account in Switzerland follow the same rules and in most cases need only the IBAN. The BIC field is often optional for those payments.

You still need MIGRCHZZXXX for payments in other currencies or transfers from countries outside SEPA. If your banking app has a field for the BIC anyway, adding MIGRCHZZ does no harm.

Instant euro transfers have become widely supported within SEPA. Charges on SEPA transfers tend to be low as long as everything stays in euros.

8 or 11 characters: MIGRCHZZ versus MIGRCHZZXXX

Every SWIFT/BIC code has the same eight core characters: a four-letter bank code, two letters for the country and two characters for the location. The result is MIGRCHZZ for Migros Bank.

Most payment forms accept both lengths. If yours requires eleven characters, use MIGRCHZZXXX; if it wants eight, use MIGRCHZZ.

In practice the code is typed in capitals, without spaces or dashes. Pasting the code is safer than retyping it, because one wrong letter changes the bank.