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Format of Sol Spa Swift Code

A SWIFT Code of any bank branch is a minimum eight to maximum eleven digits alphanumeric, numeric or alphabetic code.

The Structure is-

O

O

L

S

I

T

Y

Y

Z

Z

Z

Bank Code

Country ISO Code

Location Code

Branch Code (Optional)

  • OOLS - The first four digits is bank code. Any Sol Spa Bank SWIFT Code start with OOLS.

  • IT - Next two digits is country ISO code. Here this ISO code indicates Italy country.

  • YY - Next two digits specifies the Location where the bank is located.
      1. If the second character is "0" - then it is typically a test BIC as opposed to a BIC used on the live network.
      2. If the second character is "1" - then it denotes a passive participant in the SWIFT network
      3. If the second character is "2" - then it typically indicates a reverse billing BIC, where the recipient pays for the message as opposed to the more usual mode whereby the sender pays for the message.

    • ZZZ - Last four digits is optional, it's branch code & it's an unique identifier number for the particular bank branch.

    • *If the Swift code is an eight-digit code then it may be assumed that it refers to the primary office.

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      General Information About SWIFT / BIC Code


      What is SWIFT/BIC Code?

      SWIFT codes means Society of Worldwide Interbank Financial Telecommunication Code. The Swift/BIC code is used to identify a particular branch of a bank or financial institution & it'll help you to transfer money internationaly and executor for cross-border payments.

      The length of the Swift Code is either eight or eleven digits & combination of couple of letters & numbers. The first four charecter of the swift code is bank code, next two digits is country code, next two digits is location code & last three digits is optional & it's help to identify the specific bank branch.

      Financial institutions worldwide have the option to become part of SWIFT’s network. They provide messaging systems and use the latest technology to ensure safe and expedient international commerce.

      What is Swift code used for?

      These codes are used when transferring money between banks, particularly for international wire transfers. Banks also use these codes for exchanging messages between them.

      Example: Breakdown of SWIFT/BIC Code

      A

      B

      C

      D

      1

      2

      3

      4

      5

      6

      7

      Bank Code

      Country ISO Code

      Location Code

      Branch Code
      (Optional)