Sending business payments from the US to Italy

A US company pays an Italian supplier, contractor or subsidiary in euros to its IBAN as a SEPA transfer, or by SWIFT wire in euros or dollars through an authorized bank. You need the legal name exactly as on the account and the 27-character Italian IBAN, which carries the bank's ABI code and the branch's CAB code.

By Helm Editorial TeamPublished 29 October 2026Last reviewed 29 October 2026
Key takeaways
  • An Italian IBAN has 27 characters: IT, two check digits, a check character, the 5-digit ABI bank code, the 5-digit CAB branch code and the account number.
  • In Italy, foreign currency transfers and foreign exchange transactions must be channeled through authorized intermediaries, according to the International Trade Administration.
  • Italian banks authorized to deal in foreign exchange usually have a US correspondent, and the larger ones have branches in US cities.
  • Intesa Sanpaolo and UniCredit are Italy's largest private banks by assets.
  • Verification of payee has applied to euro transfers in euro area countries since 9 October 2025.

Details to collect from a supplier in Italy

Italy uses the IBAN for every account. Swift's IBAN Registry lists the Italian IBAN at 27 characters. After IT and the two check digits comes one check character (the CIN), then the 5-digit bank code (ABI) and the 5-digit branch code (CAB), then the account number; its example is IT60X0542811101000000123456. Italian banks, like all euro area banks, have offered verification of payee since 9 October 2025: the payer's provider checks the beneficiary name against the IBAN holder.

DetailFormatWhy it matters
IBAN27 characters starting IT; check character, ABI and CAB codesIdentifies bank, branch and account
Beneficiary nameLegal name exactly as registered with the bankChecked by verification of payee on euro transfers
Bank SWIFT/BIC8 or 11 charactersNeeded for SWIFT wires
Company formFor example S.r.l. or S.p.A., as part of the legal namePart of the name the bank checks
ReferenceInvoice numberLets the supplier match the payment

Sources: Swift IBAN Registry, Release 103 (September 2026); European Central Bank. As published on 29 October 2026.

Our SWIFT code lookup confirms that the BIC belongs to the bank named on the invoice.

Pay in euros or in US dollars?

The International Trade Administration states that foreign currency transfers and foreign exchange transactions in Italy must be channeled through authorized intermediaries, and that Italian banks with that authority usually have a US correspondent. Larger Italian banks usually have branches in one or more US cities, and the largest private banks by assets are Intesa Sanpaolo and UniCredit. For a US payer, that keeps a dollar or euro wire to a mainstream Italian bank short.

If the supplier invoices in euros, pay its euro IBAN. A euro invoice paid by SEPA arrives with no conversion; dollars sent to a euro account are converted by the Italian bank.

PointPosition in Italy
Foreign exchangeThrough authorized intermediaries
US correspondentsUsual for banks authorized in foreign exchange
Largest private banksIntesa Sanpaolo and UniCredit

Sources: International Trade Administration, Italy. As published on 29 October 2026.

For euro values, see the USD to EUR currency page.

Rails and arrival times

Citi, JP Morgan Chase and Bank of America maintain offices in Italy, and Italian banks authorized in foreign exchange usually have a US correspondent, according to the International Trade Administration.

The euro route is a SEPA payout to the Italian IBAN. Under the Instant Payments Regulation, euro area banks have had to receive instant euro transfers since 9 January 2025, and any charge for an instant transfer may not exceed the charge for a standard one, according to the European Central Bank.

A dollar payment, or a euro payment sent from the US banking system, travels by SWIFT. Swift reports that almost 100% of gpi payments are credited within 24 hours, and Italian banks authorized in foreign exchange usually have a US correspondent.

RouteCurrencyWhat applies
SEPA payout to the IBANEURInstant receipt since 9 January 2025; instant charges capped at standard charges
SWIFT wire through a US correspondentUSD or EURAlmost 100% of gpi payments within 24 hours

Sources: European Central Bank, Instant Payments Regulation; Swift gpi. As published on 29 October 2026.

Documents, reporting and checks

Italy does not ask a foreign payer for purpose codes. The Italian bank records each payment through the authorized channel, so the information you put on the transfer is what it sees: the invoice number, the goods or service, and a payer that matches the invoice. For a payment to an Italian subsidiary, state whether it covers services, royalties, a loan or capital.

Check the CIN, ABI and CAB inside the IBAN against the supplier's invoice. A single wrong digit usually fails the IBAN check digits and the payment is rejected before it leaves, which is better than a payment to the wrong account.

On the US side, every payment to an Italian company must pass sanctions screening: OFAC states that all US persons, including all US incorporated entities and their foreign branches, must comply with US sanctions, so the payer, the recipient and the recipient's bank are checked before the money moves.

Costs: Helm fees, intermediary deductions, SHA and OUR

Italian banks publish their own charges for receiving payments from outside the EU; ask the supplier what its bank deducts. A SEPA payout removes correspondent deductions, and on transfers within the EU PSD2 Article 62 has each side pay its own provider. On a SWIFT wire, OUR puts every charge on you and SHA lets intermediaries deduct theirs; our guide to OUR, SHA and BEN charges explains when each makes sense. Helm does not open accounts for businesses registered in the UK or the EEA; this page is for US companies paying them. Helm international payments show the rate, the fee and the expected arrival before you confirm, and the account manager confirms the route for each corridor.

Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.

Why payments to Italy are delayed or returned

CausePrevention
IBAN with a wrong ABI or CAB digitCopy the IBAN from the invoice and check the length
Name differs from the account (no match)Use the full legal name with S.r.l. or S.p.A.
Dollars sent to a euro accountPay euros, or ask for a USD account
SHA deductions on a SWIFT wirePay euros by SEPA, or send OUR
Missing referenceQuote the invoice number

Sources: European Central Bank; Swift IBAN Registry; Helm Editorial Team. As published on 29 October 2026.

Checklist before you send

  1. Collect the legal name with S.r.l. or S.p.A., the 27-character IBAN and the BIC.
  2. Check the ABI and CAB codes against the supplier's invoice.
  3. Agree EUR or USD on the purchase order.
  4. Pay euros by SEPA where your provider offers it.
  5. Quote the invoice number in the reference.

Open a Helm account

USD, EUR and GBP accounts in your company's name, with a named account manager.

Open account

Questions

What are ABI and CAB codes?

ABI is the 5-digit code of an Italian bank and CAB the 5-digit code of its branch. Both sit inside the 27-character Italian IBAN after a check character.

What details do I need to pay an Italian company?

The legal name exactly as on the account, the 27-character IBAN and, for SWIFT wires, the bank's BIC.

Should I pay an Italian supplier in euros or dollars?

Pay in the invoice currency. Dollars sent to a euro account are converted by the Italian bank at its rate.

Do Italian banks have US correspondents?

Italian banks authorized to deal in foreign exchange usually have a US correspondent, according to the International Trade Administration.

How long does a payment to Italy take?

Euro area banks must be able to receive instant euro payments since January 2025. On SWIFT, almost 100% of gpi payments are credited within 24 hours.

References

  1. International Trade Administration: Italy Country Commercial Guide, Trade Financing
  2. Swift: IBAN Registry, Release 103 (September 2026)
  3. European Central Bank: Instant Payments Regulation
  4. Directive (EU) 2015/2366 (PSD2), Article 62: Charges applicable
  5. Swift: Fast, transparent and trackable payments (gpi)
  6. U.S. Department of the Treasury, OFAC: Who must comply with OFAC sanctions? (FAQ 11)
HelmHelm is a business account for companies that trade internationally: USD, EUR and GBP accounts, international payments, collections and currency exchange, with a named account manager. Questions: [email protected].

This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.