In global trade and cross-border finance, the success of fund transfers often hinges on the accuracy of banking details. For international transactions, ensuring that money reaches the intended recipient—such as BANCA MONTE DEI PASCHI DI SIENA S.P.A., one of Italy's oldest financial institutions—requires careful attention to the correct SWIFT/BIC code.
The SWIFT/BIC code for BANCA MONTE DEI PASCHI DI SIENA S.P.A. is PASCITM1MI8 . This unique identifier, comprising 8 to 11 alphanumeric characters, distinguishes the bank within the global financial network. Providing this code is essential for seamless international transfers, preventing misdirected funds or processing delays.
Bank Details and Verification
Headquartered in Milan, Italy, at VIA DELLA MOSCOVA 44, MILANO, MI, 20121 , the bank serves both corporate and individual clients. Verifying the SWIFT/BIC code before initiating a transaction is critical to minimizing risks. Errors in this code can lead to failed transactions or prolonged processing times, causing significant inconvenience.
The Role of the SWIFT System
Since its establishment in 1973, the SWIFT system has been a cornerstone of international banking, standardizing communication between financial institutions worldwide. Its precision ensures efficient cross-border transactions, but incorrect codes disrupt this process. Users must double-check details to avoid complications.
Additional Considerations for International Transfers
Beyond the SWIFT/BIC code, senders should confirm:
- The recipient's full name as registered with the bank.
- The exact account number.
- Any specific requirements from the receiving bank.
Staying informed about banking policies and exchange rate fluctuations further enhances transaction security. Proactive communication with financial institutions ensures all necessary details are accurate.
Understanding the significance of BANCA MONTE DEI PASCHI DI SIENA S.P.A.'s SWIFT/BIC code and related banking information is fundamental for smooth international transactions. In an increasingly interconnected financial landscape, attention to detail safeguards the integrity of every transfer.