Last reviewed: · Curated by Ohmyfin Organisation editorial.
Italy's banking system runs on TARGET2 and SEPA Instant. The country's currency is the EUR. The major banks below handle the vast majority of inbound and outbound SWIFT payments to Italy.
Details
Italy runs its domestic interbank settlement on TARGET2 and SEPA Instant. International SWIFT payments arrive at one of the major correspondents listed below before being credited via the domestic system.
Top banks in Italy: Intesa Sanpaolo (BCITITMM, Milan), UniCredit (UNCRITMM, Milan), BPER Banca (BPMOIT22, Modena), Mediobanca (MEDBITMM, Milan).
Intesa Sanpaolo — SWIFT/BIC BCITITMM, headquartered in Milan. Italy's largest bank; major eurozone player.
If you have sent or received a SWIFT payment routed through any of these banks, you can verify it for free on Ohmyfin. Paste the 36-character UETR (from your MT103 or pacs.008 confirmation) into the homepage tracker to see the latest available SWIFT status — settled, in flight, pending compliance, or rejected.
Key facts
Country: Italy (IT)
Currency: EUR
Domestic settlement: TARGET2 and SEPA Instant
Number of major banks listed: 4
Trackable on Ohmyfin: yes — free via UETR
Frequently asked questions
What are the major banks in Italy?
The largest banks in Italy include Intesa Sanpaolo, UniCredit, BPER Banca, Mediobanca.
What is the SWIFT code for Intesa Sanpaolo?
Intesa Sanpaolo's primary SWIFT/BIC is BCITITMM (head office in Milan). Branches use 11-character extensions of this code.
How are domestic payments settled in Italy?
TARGET2 and SEPA Instant
How do I track a SWIFT payment to or from Italy?
Paste the UETR into the Ohmyfin tracker. You will see the latest available SWIFT status in seconds — including which correspondent bank in Italy (or the international intermediary) is currently holding the payment.
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