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What is a SWIFT/BIC Code
What is SWIFT?
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, which is a global network that processes payments between different countries.
What is BIC?
BIC stands for Business Identifier Code. It's a set of digits that represents a bank branch for international payments on the SWIFT network.
Is BIC the same as a SWIFT code?
The terms a SWIFT code and a BIC code are used interchangeably and mean exactly the same thing – they’re simply given different names by different banks and financial organisations.
It’s also worth noting that these codes may be referred to as SWIFT/BIC codes, BIC/SWIFT codes, SWIFT ID or SWIFT identifiers, but again, in practice, there is no difference between any of the terms.
When do you need a SWIFT/BIC code?
If you’re sending or receiving money internationally between banks, particularly international wire transfers or SEPA payments, you may be asked for a SWIFT code. SWIFT codes help banks to process transfers from abroad.
What do SWIFT/BIC codes look like?
A SWIFT/BIC is an 8-11 character code that identifies your country, city, bank, and branch.
- Bank code (4 letters, A-Z).
- Country code (2 letters, A-Z).
- Location code (2 characters made up of letters or numbers, 0-9 A-Z)
- Branch Code (3 digits specifying a particular branch. 'XXX' represents the bank's head office).
For example, BKCHHKHHXXX
- BKCH is the bank code of Bank of China.
- HK is the country code of Hong Kong.
- HH stands for the location code.
- XXX means the bank's head office.
Swift/BIC codes examples:
| Swift BIC | Name of Bank |
|---|---|
| BKCHHKHHXXX | BANK OF CHINA (HONG KONG) LIMITED, HONG KONG |
| BKCHHKHH838 | Bank of China (Hong Kong) Ltd -RMB Clearing Centre |
| BKCHCNBJS00 | Bank of China, Shanghai |
| BKCHAU2SXXX | Bank of China, Sydney |
| BKCHCATTXXX | Bank of China (Canada), Toronto |
| BKCHDEFFXXX | Bank of China, Frankfurt |
| BKCHGB2LXXX | Bank of China, London |
| BKCHJPJTXXX | Bank of China Limited, Tokyo |
| BKCHSGSGXXX | Bank of China, Singapore |
| BKCHZAJJXXX | Bank of China, Johannesburg |
| BIBDBNBBXXX | Bank Islam Brunei Darussalam Berhad |
| UBSWCHZH80A | UBS Switzerland AG, Zurich |
| DABADKKKXXX | Danske Bank A/S, Copenhagen |
| COBADEFFXXX | Commerzbank AG, Frankfurt AM Main |
| DNBANOKKXXX | DNB Bank ASA, Oslo |
| ANZBNZ22XXX | ANZ National Bank Ltd, Wellington |
| NDEASESSXXX | Nordea Bank AB (Publ), Stockholm |
| BKKBTHBKXXX | Bangkok Bank Public Co Ltd, Bangkok |
| CHASUS33XXX | JPMorgan Chase Bank NA, New York |
| BOFAUS3NXXX | Bank of America, N.A. |
| HSBCHKHHHKH | The Hongkong and Shanghai Banking Corporation Limited |
| HASEHKHHXXX | HANG SENG BANK LIMITED |
| SCBLHKHHXXX | Standard Chartered Bank (Hong Kong) Limited |
| CITIHKHXXXX | Citibank (Hong Kong) Limited |
| KWHKHKHHXXX | CHINA CITIC BANK INTERNATIONAL LIMITED |
| BEASHKHHXXX | The Bank of East Asia, Limited |
| UBHKHKHHXXX | INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED |
| CMBCHKHHXXX | CHINA MERCHANTS BANK (HONG KONG BRANCH) |
| WUBAHKHHXXX | CMB WING LUNG BANK LIMITED |
| WIHBHKHHXXX | Wing Hang Bank Limited |
| DHBKHKHHXXX | DBS Bank (Hong Kong) Limited |
| CCBQHKAXXXX | CHINA CONSTRUCTION BANK (ASIA) CORPORATION LIMITED |
| NYCBHKHHXXX | Nanyang Commercial Bank, Limited |
Where can I find my SWIFT/BIC code?
You can usually find it on your bank statements, but if you don’t have any to hand, you could also log into your online banking account or just call your local branch on the phone.
Finally, it’s important to double-check with your intended recipient that the BIC code you’ve been given is correct before you authorize a payment. An incorrect code could mean that your payment is sent back, delayed, or even goes into the wrong account.