Which is the SWIFT / BIC code of bank Mediolanum?
Always check with your bank which code you should use.
What is swift code?
SWIFT is the acronym for the acronym “Society for Worldwide Interbank Financial Telecommunication”. It is used to send money internationally since they ask you to tell your bank or transfer service where you want to send the money.
It consists of between 8 and 11 characters, which ensure that the transferred money is received by the correct recipient. We explain their figures:
The first four letters indicate the financial entity to which your provider belongs and indicate the initials of the bank's name.
The next two letters are to indicate the country code such as ES for Spain.
Next, there are two others with which, through a location code, they indicate the town where the bank's headquarters are located.
Finally, the last digits correspond to the specific branch associated with your bank account.
Why was the SWIFT/BIC code system created?
The SWIFT system was created to offer a secure and universal way to send money internationally. SWIFT is in short a messaging network that allows banks to send and receive information electronically. Due to its standardized format, it avoids confusion between banks from different countries, streamlines and simplifies the payment process, and reduces the margin of error.
Who uses the SWIFT code system?
More than 200 countries and 11,000 institutions use the SWIFT/BIC system, today it is the largest international payment network in the world.
As the codes are processed, their characters are checked against a global database to see where the transmission should be sent.
When you are sending or receiving money from abroad through a bank, you will most likely have to enter the SWIFT or BIC code.
Tips for use
Remember that each bank may have a different code depending on the type of service they offer, so make sure directly with your bank what Swift Code you should use.
you can find your SWIFT code Mediolanum within your bank statements, in your online banking, or make an inquiry with your bank directly.
Do I need to know the SWIFT code of each branch?
Every bank office has a different code, but if you don't have the branch code, you can use the central office code. This is usually made up of the bank code, country and the central city, using the XXX digits instead of the branch code.
Where can I find the SWIFT code for Banco Mediolanum?
You can find the SWIFT code of a foreign bank on some account statements, in your online banking, by consulting your bank's FAQs or by requesting it directly by calling your bank or at your branch.
Do you want to know more about SWIFT codes?
At Fazil, we believe that managing our money does not have to be complicated or difficult to understand. If you want more information about the SWIFT / BIC codes Read our easy-to-read guide on what is swift code.
In addition, if you want to make your purchases online without registration costs, maintenance or commissions, we recommend you read our post about free virtual cards to have all the advantages of this type of financial instrument.