Madrid Transfer Strategy

Our Spanish Business—consisting of Payments, Commercial Banking and Supply Chain Financing—will be impacted as a result of recent legal and regulatory developments.

On October 27, 2025 (the Transfer Date), assets and liabilities linked to the Spanish Business will transfer from JPMCB España (JPMorgan Chase Bank, N.A., Sucursal en España) to JPMSE España (J.P. Morgan SE, Sucursal en España). Otherwise known as the Transfer.

The Lending business is not in scope for the Transfer.

The legal relationship you currently have with JPMCB España will be transferred and assigned on the Transfer Date to JPMSE España, including your account(s) held with JPMCB España.

Key Changes

The Transfer will introduce changes to your IBAN, including the bank code, IBAN check and check digit. An example of the new IBAN format is shown below, with changes indicated in bold:

Current IBAN

New IBAN

ESXX 0151 0001 X7 0123456789

ESXX 1567 0001 X7 0123456789

There will be no changes to your account number(s) (“0123456789” in the above example) or to the SWIFT/BIC code “CHASESM3XXX”.

Timeline

Migration activities will happen over the weekend of October 25-26, 2025.

The Transfer will be legally effective on October 27, 2025.

What to do after receiving your new IBAN

We’ll share your new IBAN to the address(es) we have on file during the second quarter of 2025. While it will not be active until the Transfer Date, you’ll need to take the following steps once you receive it:

  1. Identify and update any files or applications where your IBAN is listed.
  2. Notify your impacted clients, vendors or partners about this change so they have time to make updates, as necessary.

You Should Know

We shared your new IBAN in June of 2025—if you haven't received it yet, please reach out to your client service representative.