Italy SWIFT codes and ABI bank codes

How to read an Italian SWIFT code

A SWIFT code, also called a BIC (Business Identifier Code), is defined by the ISO 9362 standard. Italian codes follow the same pattern as everywhere else:

• Characters 1–4: bank code. BCIT for Intesa Sanpaolo, UNCR for UniCredit, BPPI for Poste Italiane.
• Characters 5–6: country. Always IT for Italian banks.
• Characters 7–8: location. MM is Milan, RR is Rome, and some banks use digits such as 21 or 22.
• Characters 9–11: branch (optional). XXX means head office. Some banks give branches their own suffix, such as BACRIT22MEC.

If the 8th character is a 1, the code is a “passive” BIC that is not directly connected to the SWIFT network; payments to it are routed through a correspondent bank. You can still use it.

Codes that changed after mergers

Italian banking has consolidated quickly. If you have an old IBAN or SWIFT code from one of these banks, the account has probably moved:

During a migration the old codes often keep working for a period, but the safe choice is always to ask the recipient for the IBAN and BIC printed on a recent statement.

SWIFT code or IBAN: which one do you need?

The SWIFT code tells the payment network which bank to deliver to. The IBAN tells that bank which account to credit. For a transfer from outside Europe you normally need both. Inside the SEPA area, the IBAN alone is enough, because the bank can be worked out from the ABI code inside it. Our guide to IBAN vs SWIFT codes explains the difference in more detail.

Cooperative banks (BCC)

Italy has around 200 small cooperative banks (Banche di Credito Cooperativo). Most belong to one of two groups and use the group’s SWIFT prefix with a branch suffix: ICRAITRR for the Iccrea group and CCRTIT2T for the Cassa Centrale group. If you are paying a BCC account, ask the recipient for the exact 11-character code shown in their online banking.