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SWIFT Code / BIC Code? - What is a SWIFT Code/ BIC Code

The Bank Identifier Code is a unique address which, in telecommunication messages, identifies precisely the financial institutions involved in financial transactions.
The SWIFT code can be 8 or 11 characters long. The 8-digit SWIFT code refers to the main branch or office of the bank.
Simple description of the structure can be found below:

SWIFT Codes by country name starting with:

First 4 characters - Represents the bank code (aplphabetic)
Next 2 characters - ISO 3166-1 alpha-2 country code (alphabetic)
Next 2 characters - location code (alphanumeric) (passive participants have "1" in the second character)
Last 3 characters - Determines the branch code, optional ('XXX' for main branch/office) (alphanumeric)

Benefits of bank swift codes

- Online work has been growing in popularity because of its convenience and with the growth of the internet and telecommunications. To the individual, the bank codes are used to send and receive money from their online work. The swift code can be found online from sites which are reliable and accurate. It is also easy to retrieve swift codes from such sites.

- For business companies, the codes are very useful especially if they are aiming for worldwide expansion. The codes will enable such companies to transact finances internationally in a smooth way. They can easily communicate directly to banks all over the world through these codes.

- The IBAN check and validation tool helps businesses verify the validity of a bank account number worldwide. Regardless of the type of transaction a copmany plans to conduct the IBAN checker is saving time and money.

- The Swift Code search brings security by supporting the newest SEPA standards and providing details on how to safely make payments to offshore and local companies.

- Our Swift/Bic code directory holds thousands of bank swift codes for credit or direct debit and deposit wire transactions worldwide.

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