SWIFT Code PRNEESM1 — BANCO DE PROMOCION DE NEGOCIOS SA, MADRID

About SWIFT Code PRNEESM1 — BANCO DE PROMOCION DE NEGOCIOS SA, MADRID

SWIFT code PRNEESM1 is the official 8-character head-office BIC (Bank Identifier Code) for BANCO DE PROMOCION DE NEGOCIOS SA 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 PROMOCION DE NEGOCIOS SA 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 PRNEESM1

The code PRNEESM1 follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code PRNEESM1

Receiving International Wire Transfers

To receive money from abroad at your BANCO DE PROMOCION DE NEGOCIOS SA account in MADRID, share SWIFT code PRNEESM1 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 PROMOCION DE NEGOCIOS SA, MADRID must provide SWIFT code PRNEESM1. 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 PROMOCION DE NEGOCIOS SA in MADRID rely on SWIFT code PRNEESM1 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 PROMOCION DE NEGOCIOS SA →

For cheque clearing or NACH mandates, use the MICR code for BANCO DE PROMOCION DE NEGOCIOS SA →

For TDS challan deposits, find the BSR code for BANCO DE PROMOCION DE NEGOCIOS SA →

How SWIFT Code PRNEESM1 Routes an International Transfer

1. Initiation: The sender provides SWIFT code PRNEESM1 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 PROMOCION DE NEGOCIOS SA.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: BANCO DE PROMOCION DE NEGOCIOS SA receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code PRNEESM1

• Spaces or lowercase letters — Always enter PRNEESM1 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 PRNEESM1 directly with BANCO DE PROMOCION DE NEGOCIOS SA's MADRID branch or via the SWIFT BIC Directory.