When making international wire transfers, identifying the correct SWIFT/BIC code is essential to ensure funds reach the intended destination accurately. These codes act as unique identifiers for financial institutions worldwide. For instance, Italy’s prominent bank Intesa Sanpaolo SPA uses the SWIFT code BCITITMM015 , a critical detail for cross-border transactions.
Headquartered in Alessandria, Italy, at Via Marengo 28, AL 15100 , Intesa Sanpaolo SPA is renowned for its comprehensive financial services, making it a preferred choice for clients globally. The SWIFT code—assigned by the Society for Worldwide Interbank Financial Telecommunication (SWIFT)—plays a pivotal role in facilitating secure and efficient international fund transfers.
When to Use BCITITMM015
If you are sending money from abroad to an account held at Intesa Sanpaolo SPA, the SWIFT code BCITITMM015 must be provided. For example, a transfer of $10,000 from the U.S. to a recipient with an Intesa Sanpaolo SPA account would typically result in the recipient receiving approximately €8,488, depending on exchange rates and fees. Verifying the SWIFT code before initiating the transaction helps prevent delays or misdirected payments.
The Importance of SWIFT Codes
SWIFT codes function like postal codes for international banking, ensuring transactions are processed swiftly and accurately. Using the correct code minimizes processing time and enhances the likelihood of funds arriving at the correct account without complications. Additionally, many countries enforce strict regulations on foreign exchange transactions, making familiarity with SWIFT codes a fundamental requirement for anyone engaged in cross-border financial activities.
Before finalizing an international transfer, always double-check the recipient bank’s SWIFT code. For Intesa Sanpaolo SPA, this means confirming BCITITMM015 to guarantee the secure and timely arrival of funds. This simple step not only safeguards your transaction but also streamlines the entire process, whether you’re using a smartphone or computer to conduct the transfer.