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Find any SWIFT Code or BIC code with this SWIFT Code Finder tool. Easily look up your banks SWIFT code, and find all the details you need to send money abroad.
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A SWIFT code, also known as a Bank Identifier Code (BIC), is a unique identification code used to identify a specific bank or financial institution globally. It consists of 8 to 11 alphanumeric characters and is used in international money transfers to ensure the funds are sent to the correct recipient bank.
SWIFT codes are primarily used in international wire transfers and other financial transactions involving banks and financial institutions. When sending money internationally, the sender's bank requires the SWIFT code of the recipient's bank to route the funds accurately.
A SWIFT code typically consists of 8 or 11 characters. The first four characters represent the bank code (only letters), the next two characters represent the country code (letters and digits), the next two characters represent the location code (letters and digits), and the last three characters (optional) represent the branch code (letters and digits).
SWIFT codes are necessary to ensure the smooth and secure transfer of funds between banks internationally. They help identify the recipient bank and its branch, facilitating accurate routing and delivery of funds. Without a SWIFT code, it can be challenging for banks to process international transactions efficiently.
No, a SWIFT code and an International Bank Account Number (IBAN) serve different purposes. A SWIFT code identifies the recipient bank, while an IBAN identifies the recipient's bank account. In some cases, both a SWIFT code and IBAN may be required for international transfers, depending on the countries involved and their banking systems.
Understanding SWIFT codes is essential for anyone involved in international banking or transferring money across borders, as they ensure the accuracy and security of financial transactions between banks worldwide.