Banca Monte Dei Paschi Di Siena SWIFT Code Guide for Global Transfers

Published: 08/13/2025
SWIFT code international remittance financial services
This article analyzes the SWIFT/BIC code PASCITMMALB of BANCA MONTE DEI PASCHI DI SIENA S.P.A., highlighting key points to consider during remittances and the advantages of choosing Xe for money transfers, ensuring your international transactions are quick and secure.
Banca Monte Dei Paschi Di Siena SWIFT Code Guide for Global Transfers

In today's global financial system, remittances serve not only as a means of economic exchange between individuals but also as the lifeblood of worldwide economic operations. Among various remittance methods, SWIFT (Society for Worldwide Interbank Financial Telecommunication) codes and BIC (Bank Identifier Codes) stand as crucial tools in international banking, ensuring the swift and secure transfer of funds across borders.

Understanding SWIFT/BIC Codes

SWIFT/BIC codes serve as unique identifiers for banks and their branches worldwide. These codes facilitate international wire transfers and enable financial institutions to securely exchange information and instructions globally. A typical SWIFT code consists of 8 to 11 characters, with each segment conveying specific information:

  • Bank code (first 4 letters): Represents the bank's abbreviated name
  • Country code (next 2 letters): Indicates the bank's country location (e.g., "IT" for Italy)
  • Location code (following 2 characters): Identifies the bank's specific location
  • Branch code (last 3 letters): Designates a particular branch ("XXX" typically denotes the head office)

This structured coding system serves as both a banking identifier and a critical component of international financial networks.

The SWIFT/BIC Code for Banca Monte dei Paschi di Siena S.p.A.

As one of Italy's oldest banking institutions, Banca Monte dei Paschi di Siena S.p.A. offers diverse financial services and products. For international transactions involving this bank, the correct SWIFT/BIC code is essential:

SWIFT/BIC Code: PASCITMMALB

This code breaks down as follows:

  • PASC: Represents Banca Monte dei Paschi di Siena S.p.A.
  • IT: Indicates Italy as the bank's country
  • MM: Specifies the location of the bank's headquarters
  • ALB: Identifies the specific branch (with "XXX" used for the head office)

Ensuring Accurate International Transfers

Precision in international money transfers cannot be overstated. Even minor errors can lead to delayed or lost funds. Consider these practical recommendations:

  • Verify all bank details, including the exact SWIFT/BIC code and recipient bank name
  • Confirm branch-specific information when applicable
  • Cross-check the country code in the SWIFT/BIC against the recipient bank's actual location
  • Double-check account numbers and recipient information before submission

The Evolution of Cross-Border Payments

Technological advancements continue to transform international money transfers. Emerging financial technologies, particularly blockchain and cryptocurrencies, offer increasingly transparent and efficient alternatives to traditional banking systems. While conventional banks maintain dominance in cross-border payments, these innovations promise reduced transaction costs and increased accessibility, especially in regions with limited banking infrastructure.

In our interconnected global economy, SWIFT/BIC codes remain indispensable tools for secure international transactions. Proper understanding and application of these identifiers, combined with careful attention to transfer details, ensure smooth and successful cross-border financial operations.

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