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What is a SWIFT Code?

 

What is a SWIFT Code?

Global banks and financial institutions utilize this SWIFT network for financial transactions. SWIFT is an extremely popular and reliable medium. The central banks of 200 countries around the world are members of SWIFT. To learn more about SWIFT, Click Here…....

What is a SWIFT Code?

A SWIFT code is a code authorized by the SWIFT organization, used to identify specific countries, banks, and bank branches. When an individual or entity sends money to a bank account abroad, this SWIFT code is necessary. The SWIFT code is also known as the Bank Identifier Code (BIC).

 

A SWIFT code consists of either 8 characters or 11 characters. When an 8-character code is provided, the first four characters identify the primary bank or office. The next two characters indicate the country, and the last two characters indicate the specific city location. However, when an 11-character code is provided, it includes an additional 3 letters or digits after the 8-character code to specify the branch. The use of these additional 3 letters or digits for banking transactions is optional; there won't be any issues if an institution does not utilize them.

To find out your bank's SWIFT Code, Click Here.....