SWIFT Code ESPBESM1AAD — BANCO DE ESPANA, MADRID

About SWIFT Code ESPBESM1AAD — BANCO DE ESPANA, MADRID

SWIFT code ESPBESM1AAD is the official 11-character branch-specific BIC (Bank Identifier Code) for BANCO DE ESPANA in MADRID, Spain. Standardised under ISO 9362 and maintained by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), this code is used exclusively for cross-border wire transfers and is recognised by financial institutions in over 200 countries.

This code must be provided to the sender when receiving money from abroad, and is required by BANCO DE ESPANA for all outward international remittances from MADRID. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code ESPBESM1AAD

The code ESPBESM1AAD follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code ESPBESM1AAD

Receiving International Wire Transfers

To receive money from abroad at your BANCO DE ESPANA account in MADRID, share SWIFT code ESPBESM1AAD with the sender along with your full account number, your name as on the account, and the branch address.

NRI Remittances

Non-Resident Indians sending money to NRO/NRE accounts at BANCO DE ESPANA, MADRID must provide SWIFT code ESPBESM1AAD. Major remittance platforms — including Wise, Remitly, Western Union, and MoneyGram — use this code to route transfers accurately.

Trade Finance and Foreign Payments

Importers and exporters using BANCO DE ESPANA in MADRID rely on SWIFT code ESPBESM1AAD for letters of credit, bank guarantees, and foreign currency settlements.

SWIFT Code vs IFSC vs MICR vs BSR — Key Differences

Need the IFSC code for domestic NEFT, RTGS, or UPI transfers? View the IFSC code for BANCO DE ESPANA →

For cheque clearing or NACH mandates, use the MICR code for BANCO DE ESPANA →

For TDS challan deposits, find the BSR code for BANCO DE ESPANA →

How SWIFT Code ESPBESM1AAD Routes an International Transfer

1. Initiation: The sender provides SWIFT code ESPBESM1AAD and account number to their bank.
2. Validation: The sending bank validates the BIC against the SWIFT registry.
3. Routing: An MT103 SWIFT message is transmitted through the network to BANCO DE ESPANA.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: BANCO DE ESPANA receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code ESPBESM1AAD

• Spaces or lowercase letters — Always enter ESPBESM1AAD uppercase with no spaces.
• Using the wrong city — This code is for MADRID only.
• Truncating to 8 characters — When 11 characters are required, always use the full code.
• Using SWIFT for domestic transfers — Use the IFSC code for any transfer within Spain.

Data Accuracy

BankZop sources SWIFT/BIC data from publicly available banking registries and official disclosures, updated regularly. For the highest-stakes transactions, always confirm ESPBESM1AAD directly with BANCO DE ESPANA's MADRID branch or via the SWIFT BIC Directory.