A SWIFT code, also known as a Bank Identifier Code (BIC), is an alphanumeric code used to identify specific banks and branches in Canada and around the world. These codes are essential for international wire transfers and for exchanging messages between banks.
In Canada, SWIFT codes are typically 8 or 11 characters long. 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 or primary office. The format of a SWIFT code is as follows:
- First 4 characters: Bank code (letters only)
- Next 2 characters: ISO 3166-1 alpha-2 country code (letters only)
- Next 2 characters: Location code (letters and digits)
- Last 3 characters: Branch code (letters and digits)
For example, the SWIFT code for the National Bank of Canada is BNDCCAMMXXX, where BNDCCAMM is the bank code, CA is the country code, and XXX represents the head office or primary location.
To find a specific bank's SWIFT code in Canada, you can use online SWIFT code finders like Wise or Bank Codes.
