![]() When the business you’re looking for is a bank, the specific type of identifier used is a SWIFT code. In this case, SWIFT and BIC codes are the same.īIC stands for business identifier code. You may be asked for a BIC code - or even a SWIFT/BIC - instead of a SWIFT code. Check the requirements for the country you’re sending to before you start making your payment. You’ll need an IBAN for payments to countries within Europe, but not for a transfer to the US, for example. You can think of it like giving directions to someone - the SWIFT code will get them as far as the right building, but they’ll also need the IBAN to find the specific apartment. This is an international bank account number - used for identifying a specific bank account within an institution. If you are making an important or time-critical payment, we recommend you contact your bank first.ĭepending on where you’re sending money to, you might be asked for an IBAN number as well as a SWIFT code. Only your bank can confirm the correct bank account information. ![]() Whilst every effort is made to provide accurate data, users must acknowledge that this website accepts no liability whatsoever with respect to its accuracy. The tools here are provided for informational purposes only. The term SWIFT is often used interchangeably with BIC, which stands for Bank Identifier Code. SWIFT code registrations are handled by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). An 11 digit code refers to a specific branch, while an 8 digit code (or one ending in 'XXX') refers to the bank's head office. These codes are used by banks to process international wire transfers and messages.Īll SWIFT codes consist of 8 or 11 characters. SWIFT/BIC codes are used to identify specific banks and branches in international money transfers, making sure your money gets to the right place. Receive Money Send Money Wise for Business SWIFT codes - FAQs
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