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.
- April 2024: We sent you the first communication informing of the Transfer (details can be found in Frequently Asked Questions section).
- October 2024: We sent you a communication including further information about the impacts from the Transfer. Start preparing for the required changes to your systems and operations considering the IBAN impacts
- Q2 2025
- June 2025: You received a communication including your new IBAN details and Regulatory Disclosures. These will only be active after the Transfer Date.
- August 2025: We mailed you your Regulatory Disclosures.
- October 27, 2025: Transfer is effective; please start using your new IBAN.
- 9-month Transition period: During the Transition period we will support usage of the old IBAN for 9 months (this will not apply for SEPA B2B DD). Your Client Service representative will be able to provide details of who is still using your old IBAN. After this period, only transactions using the new IBAN will be accepted.
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:
- Identify and update any files or applications where your IBAN is listed.
- 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.