SWIFT Codes and BIC codes are part of the ISO 9362 standards for sending money internationally. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, while BIC is short for Bank Identifier Code.
SWIFT and BIC codes are used all over the world to identify bank branches when you make international payments, ensuring your money gets to the right place. To find a SWIFT code, begin by selecting your country below.
A SWIFT Code is a standard format of Bank Identifier Code (BIC) used to specify a particular bank or branch. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also use these codes for exchanging messages between them.
SWIFT codes comprise of 8 or 11 characters. All 11 digit codes refer to specific branches, while 8 digit codes (or those ending in 'XXX') refer to the head or primary office. SWIFT codes are formatted as follows:
AAAABBCCDDD
First 4 characters - bank code (only letters)
Next 2 characters - ISO 3166-1 alpha-2 country code (only letters)
Next 2 characters - location code, passive participant will have "1" in the second character (letters and digits)
Last 3 characters - branch code, optional - 'XXX' for primary office (letters and digits)
The downside of international transfers with your bank
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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 trademark of S.W.I.F.T. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium.
International Bank Account Number (IBAN) or SWIFT?
Certain parts of the world - particularly Europe, the Middle East & many Caribbean countries - have adopted the International Bank Account Number (IBAN) system for international money transfers. IBANs identify specific bank accounts rather than bank branches. Remember to use IBAN if you are transferring funds to an account in one of the participating countries.
IBANs are very long, up to 34 characters. In order to avoid mistakes, it is wise to check / validate your IBAN prior making an international money transfer.
It is possible to calculate IBAN from an existing bank account number by using an online IBAN Calculator. The necessary information can vary, but normally an account number, bank code and branch codes are required.
Domestic Bank Codes
Some countries also implement domestic bank code or clearing system to transfer money within their own borders. 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, 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.