SWIFT code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank.

These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them.

The SWIFT code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office.

  • First 4 characters - bank code (only letters)
  • Next 2 characters - ISO 3166-1 alpha-2 country code (only letters)
  • Next 2 characters - location code (letters and digits) (passive participant will have "1" in the second character)
  • Last 3 characters - branch code, optional ('XXX' for primary office) (letters and digits)
Currently, there are over 7,500 “live” SWIFT codes. The "live" codes are for the partners who are actively connected to the SWIFT network. On top of that, there are more than 10,000 additional codes, which are used for manual transactions. These additional codes are for the passive participants.

The registrations of SWIFT Codes are handled by Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) and their headquarters is located in La Hulpe, Belgium.

SWIFT is the registered trademarks of S.W.I.F.T. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium.


SWIFT Code, BIC Code, ISO 9362

SWIFT Code or BIC code are part of ISO 9362 standards. It is a standard format of Business Identifier Codes (“BIC”). BIC sometimes also refers to “Bank Identifier Code”.

SWIFT Code or BIC Code is a unique code to identify financial and non-financial institutions. These codes are mostly used when transferring money between banks, especially for international wire transfers or telegraphic transfer (“TT”). The codes are also used in exchanging messages between banks.

For individual users, SWIFT Code normally used to transmit money across the international border.

SWIFT Code for World’s Largest Economies

The following countries are the 24th largest economies based on Gross Domestic Product (“GDP”) as listed by the International Monetary Fund (“IMF”).

1 2 3 4 5 6 7 8
United States China Japan India Germany Russia Brazil United Kingdom
United States China Japan India Germany Russia Brazil United Kingdom
9 10 11 12 13 14 15 16
France Italy Mexico South Korea Spain Canada Indonesia Turkey
France Italy Mexico South Korea Spain Canada Indonesia Turkey
17 18 19 20 21 22 23 24
Iran Australia Taiwan Poland Argentina Netherlands Saudi Arabia Thailand
Iran Australia Taiwan Poland Argentina Netherlands Saudi Arabia Thailand

 

Domestic Bank Codes

Some countries also implement domestic bank code or clearing system to transfer money within their own border. Examples are, Routing Number in United States (“USA”), Routing Number or Transit Number in Canada, Sort Codes in United Kingdom (“UK”), National Sort Codes (NSC) in Ireland, Bankleitzahl (“BLZ Codes”) in Germany, Bankleitzahl (“BLZ Codes”) in Austria, Bankenclearing-Nummer (“BC“) & SIX Interbank Clearing Codes (“SIC”) in Switzerland, Code Banque & Code Guichet In France, Codice ABI (“ABI“) & Codice di Avviamento Bancario (“CAB Code“) in Italy, Bank State Branch (BSB number) in Australia, Bank State Branch (BSB number) in New Zealand and Indian Financial System Code (“IFSC Code“) in India.