Society of Worldwide Interbank Financial Telecommunication (SWIFT) is an 8-to-11-character code, also known as Bank Identifier Code (BIC). Each bank has a unique SWIFT code indicating its name, location and branch. The first 4 characters of the SWIFT Code are the bank code, the next 2 a...
A SWIFT code has either eight or 11 digits, and each represents something specific. For example, PayPal's US SWIFT code is PPALUS66XXX. PPAL:The first four digits are the bank or financial institution code, and these are often letters that resemble the company's name. ...
A SWIFT code is a code used to identify the country, bank and branch that an account is registered to. When you send money to a bank account overseas with WorldRemit, you’ll need this code to ensure your money’s going to the right place. A SWIFT code is sometimes called a BIC (B...
A Bank Identification Code, or BIC Code is an 8 to 11-character code that is used to identify a specific bank when you make an international transaction. It's almost like a postcode for your bank, ensuring that your money goes to the right place. So, what is a SWIFT code? SWIFT ...
And while SWIFT is the major international financial clearing system for cross-border payments, it’s not the only one. Some others you might come across include: CHIPS (Clearing House Inter-Bank Payment System): Mainly used in the US and Canada. NCC (National Clearing Code) BSC (Bank Sort...
The SWIFT code is made up of either 8 or 11 letters. A real world example - Citi Group Private Bank -CITIUS33PBG First 4 letters: bank code Next 2 letters: ISO 3166-1 alpha-2 country code Next 2 letters or digits: location code ...
Your BIC (Bank Identifier Code) is a unique set of characters, being either 8 or 11 numbers and letters. This identifies the financial institutions involved in international financial transactions. BICs are created and managed by SWIFT (the Society for Worldwide Interbank Financial Telecommunications)...
Last Three Letters:Branch Code (0-9/ A-Z). This is optional. It represents a particular bank's branch, especially when a bank has more than one branch in a local area. Example of a SWIFT code: WFBIUS6WFFX. WFBI:Wells Fargobank code. US: United States. 6W: Wells Fargo's Head Of...
Code, BIC or SWIFT/BIC, is an international bank code that can identify one specific bank or financial institution anywhere in the world. The code contains all the information you need to pinpoint any bank or financial institution, or even a specific branch of that bank or financial ...
Each bank has a unique SWIFT code. It usually consists of 11 characters divided into four groups: first, four letters to identify the bank; second, two letters to identify the country; third, two letters to indicate the bank’s location; and fourth (which is optional), three digits to sp...