What are the differences between SWIFT and BIC codes?

The acronym SWIFT means “Society for Worldwide Interbank Financial Telecommunication”. It is a global network in which payments between countries are processed. On the other hand, BIC stands for “Bank Identifier Code” and is a sequence of characters, composed of letters and numbers, that are needed to assign an international transfer.The terms "BIC" and "SWIFT" are often used interchangeably in the daily life when it comes to mention the code for international payments.

What are the differences between SWIFT and IBAN codes?

SWIFT codes and an IBAN are two different identifiers but have a similar function. SWIFT codes and IBANs are both used for international transactions. However, a SWIFT code identifies the location of a specific bank, while an IBAN (International Bank Account Number) identifies the individual account. Also, IBAN can also be used for local transactions.Check your Swift code now with our tool and find out whether your code is valid or not and show what the individual parts of the code stand for.

How do I know if I need a SWIFT/BIC code?

Each country need different codes to make international money transfers. When transferring to an international bank account, you will almost always need a SWIFT/BIC code. You can find below the list of countries for which a SWIFT/BIC code is mandatory to transfer money:• Andorra• Bahrain• Denmark• Ghana• Hungary• Japan• Latvia• Sweden

How are SEPA and SWIFT/BIC codes connected?

SEPA means Single Europe Payments Are. It allows you to transfer euros within the European community. You will usually be asked to provide a SWIFT code when sending or receiving money from international transfers, using SEPA. It is important to keep in mind that SWIFT transfers can be made in different currencies, whereas SEPA payments are only tailored to transfer euros, within the EU.

Instant SWIFT/BIC Code Finder

Ensure the safety of your international transfers by quickly verifying your bank's SWIFT/BIC code. A simple step for hassle-free transactions.

Enter a BIC / SWIFT code to find out if it's correct and which bank it belongs to.

SWIFT Code:

AAAA-BB-CC XXX

What is a SWIFT/BIC code? What are the key features of Swift Codes? What is the format of a SWIFT code?

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What is a SWIFT/BIC code?

A SWIFT/BIC code is a standardized international code that identifies banks worldwide, enabling secure and efficient cross-border payments. "SWIFT" stands for Society for Worldwide Interbank Financial Telecommunication, the organization that assigns these codes, while "BIC" stands for Bank Identifier Code.

What are the key features of Swift Codes?

Universal Identification: It serves as a unique identifier for each bank, ensuring that international transactions reach the correct institution.
Purpose: Primarily used for international wire transfers, the SWIFT/BIC code facilitates the smooth processing of overseas payments by accurately identifying the recipient's bank.

What is the format of a SWIFT code?

A SWIFT/BIC is a unique 8-11 character code that identifies your bank, country, city, and branch.

Bank code A-Z : 4 letters representing the bank. It usually looks like a shortened version of that bank's name.
Country code A-Z : 2 letters representing the country the bank is in.
Location code 0-9 A-Z : 2 characters made up of letters or numbers. It says where that bank's head office is.
Branch Code 0-9 A-Z : 3 digits specifying a particular branch. 'XXX' represents the bank’s head office.

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