What is the Format of a SWIFT Code?
A SWIFT code consists of 8 or 11 characters that follow a standardized format: General Format: AAAA BB CC DDD Breakdown of the Components: Example of a SWIFT Code:
How Does a SWIFT Code Differ from IBANs and Sort Codes?
While SWIFT codes, IBANs, and sort codes are used in banking, they serve different purposes:
How to Find a Bank’s SWIFT Code
To find a SWIFT code, you can: Typically, account holders need to share their SWIFT code to receive international money transfers. SWIFT Code vs. IBAN While a SWIFT code identifies the financial institution, an International Bank Account Number (IBAN) identifies the specific account within that institution. Both are commonly required for international transactions, along with […]
What is a SWIFT Code?
A SWIFT code, also known as a Bank Identifier Code (BIC), is a unique eight- or 11-character code banks and financial institutions use to identify themselves during international transactions. Managed by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), this code ensures that money is sent to the correct institution and account. The SWIFT network […]