- 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)
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”).
|United States||China||Japan||India||Germany||Russia||Brazil||United Kingdom|
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.