A Swift Code is the standard format for Business Identifier Codes (BIC) and it's a unique identification code for banks and financial institutions globally. These codes are used when transferring money between banks, for international wire transfers or SEPA payments.

A SWIFT code — sometimes also called a BIC number — is a standard format for Business Identifier Codes (BIC). It’s used to identify banks and financial institutions globally. It says who and where they are — a sort of international bank code or ID.

Feb 12, 2025 · A SWIFT code typically consists of 8 to 11 characters, including the bank, country, location, and branch codes. For example, HSBC in London might use HBUKGB4B. Accurate SWIFT codes are essential for directing funds correctly and avoiding errors or delays. The International Organization for Standardization (ISO) maintains the standards for SWIFT ...

What is a SWIFT code? A SWIFT code - also known as a SWIFT/BIC or a SWIFT number - is a unique identifier which helps banks processing international payments deliver money across the globe. It tells the banks which process the payment which institution the recipient's account is with, the country the account is held in, and the branch location.

Feb 15, 2024 · SWIFT codes are unique eight- or 11-digit codes that banks and other financial institutions can use to identify themselves. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) manages the SWIFT network, which is a messaging system that financial institutions use to send transfer requests to one another.

The SWIFT code is a Business Identification Code (BIC) assigned to banks by SWIFT as an easy cross-border payment solution. For any transaction this bank makes on an international level, the SWIFT code is used.

Jan 30, 2023 · SWIFT code has now changed name to Business Identifier Code, BIC for short. Never mind the name – all banks have one. It’s used to identify the bank among all the other banks in the world, and this helps banks transfer money and communicate with one another through secure messages.

Dec 26, 2024 · A SWIFT code is used to identify banks and financial institutions globally. Find out more about when they're used and how to find a SWIFT code in this guide.

Aug 14, 2023 · A SWIFT code, made up of eight to 11 characters, helps you send money to a person or business in many places outside of the United States. The SWIFT code is...

Aug 15, 2024 · For individuals sending or receiving money across national borders, it’s a good idea to understand what SWIFT codes are and how to find the right one for you. In this article, we explain what a SWIFT code is, who uses them, the format of this number, how to find your SWIFT code and answers to frequently asked questions about these codes.