San Marino: SWIFT/BIC Codes & Payment Info

Overview

Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g., SWIFT BIC, account number, and beneficiary bank address).

Country Requirements/Restrictions

SEPA: Strict formatting standards and SEPA guidelines exist in Europe regarding cross-border payments. IBAN and SWIFT BIC are required for all euro payments. SEPA standards apply for euro payments to beneficiaries with accounts in San Marino.

Payment Formatting Rules for EUR

• Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Include account number (IBAN), full name (no initials), and address of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary. IBAN numbers for beneficiaries with accounts in San Marino must be included in the payment instructions.
• Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSMxx or xxxxSMxxxxx.