A SWIFT code, also known as a Bank Identifier Code (BIC), is a unique identifier for business institutions, approved by the International Organization for Standardization (ISO) . It is a standard format used when making international transfers between banks and financial institutions. The SWIFT code identifies the branch, bank, and country an account is registered in and communicates the who, what, and where of the transfer.
SWIFT codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. They can sometimes be found on account statements. Every bank that belongs to the SWIFT network has one or more SWIFT codes that correlate to the bank’s business identifier code.
To find the right SWIFT/BIC code for a transfer, one can search by bank or country to find the right branch code. If one already has a code, they can use a checker tool to make sure it’s correct.
