San Marino IBAN
A San Marino IBAN is 27 characters long and San Marino is in SEPA.
SM and two check digits open every San Marino IBAN; its remaining 23 form the BBAN (Basic Bank Account Number).
Example San Marino IBAN
Electronic format
SM86U0322509800000000270100
Print format
SM86 U032 2509 8000 0000 0270 100
IBAN structure for San Marino
Format reference: SWIFT IBAN Registry.
San Marino IBAN questions
Which San Marino banks can take part in the SEPA schemes?
Under version 8.0 of the EPC's country list, dated December 2025, a bank is automatically eligible if the Central Bank of San Marino authorised it under Article 7 of Law No. 165 of 17 November 2005 and Regulation No. 07 of 2007. Eligibility is not membership: each bank still joins the schemes through the EPC's adherence procedure, so ask the receiving bank.
How is San Marino's financial supervision tied to Italy's?
By treaty and by training. An Italy and San Marino agreement on financial collaboration, signed on 26 November 2009 and in force since 26 January 2015, replaced a 1991 convention and provides for cooperation between the supervisors of banking, finance and insurance. Since February 2026, Banca d'Italia experts have also been training BCSM's supervisory staff.
What would an EU association agreement change for San Marino's banks?
Speaking at a University of San Marino conference on 25 September 2026, BCSM's president said passporting under the agreement would let Sammarinese financial intermediaries reach the EU single market, opened gradually, sector by sector. She also described the task of transposing 451 EU legal acts, for which BCSM has already formed partnerships with counterpart authorities abroad.
San Marino: euro by convention, BCSM rules and instant transfers
San Marino uses the euro as its national currency under a monetary convention with the European Union, says the Central Bank of the Republic of San Marino (BCSM). The current convention took effect on 1 September 2012, replacing one signed in 2000; before the euro, the republic used the lira under an accord with Italy. BCSM itself was created in 2005 by merging the Istituto di Credito Sammarinese with the Ispettorato per il Credito e le Valute.
- The convention lets San Marino strike a capped quota of euro coins with its own national face, identical to other euro coins in value and legal tender status and minted on commission by Italy's State Mint, though other EU mints may be used. The republic may also issue gold coins denominated in scudi, which are not legal tender in the EU.
- BCSM's statute gives it the management, regulation and supervision of the republic's payment system. Its Regulation 2024-04 on payment operations, in force since 1 December 2024, replaced the 2013 rules under which San Marino entered SEPA, and required providers to accept incoming instant euro transfers by 9 January 2025 and to offer outgoing ones by 9 July 2027; payment and e-money institutions have until 9 July 2027 for both.
- San Marino has set its own date for payee name checks. Regulation 2024-04 obliges a payer's provider to offer verification of the payee at no extra charge, but Regulation 2025-03 suspended that duty from 8 October 2025 until 9 July 2027. Meanwhile Sammarinese providers may offer outgoing instant euro transfers without the check if they tell users it is unavailable.
Sources: BCSM: San Marino and the euro (Italian); BCSM: Regulation 2024-04 on payment operations (Italian); BCSM: Regulation 2025-03 updating the SEPA rules (Italian); BCSM: relations with Italy (Italian).
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