If you're still unsure, we've prepared a list of the most common questions asked.
What is a SWIFT code?
SWIFT codes are universally recognised codes that identify different banking or financial institutions when conducting international money transfers. A SWIFT code can be made up of 8 to 11 characters which, together, identify the country, location, and bank branch. We have a full guide to SWIFT codes, read it here.
What is a BIC?
BIC stands for Business Identifier Code and it is a term that can be interchangeably used with SWIFT codes. Both SWIFT and BIC are used to identify a specific financial institution during an overseas transfer. More about BICs here.
How to find a SWIFT code?
Finding the SWIFT code of a bank should be relatively easy. It can be found on your bank statements or displayed in your online banking account. If you are still struggling to locate it, contact your bank directly and a member of staff will be able to recite the bank’s SWIFT code to you. How do I find my SWIFT code?
What is a bank code?
This is a broad term that describes an alphanumeric code which can be used as an identifier during a domestic or international money transfer. There are different bank codes for different transactions and it is important to confirm the purpose before use. Read about the different types in our guide: What is a bank code?
Where to find a SWIFT code?
It can be found on bank statements, via online banking or, if you are unsure about what constitutes a SWIFT code, by contacting your bank directly to confirm which information is required. Learn more about this, in our guide: What is a SWIFT code?
SWIFT code and IFSC code: What is the difference?
Although both bank codes, a SWIFT code and IFSC code are very different. SWIFT codes are used by the Society for Worldwide Interbank Financial Telecommunication while IFSC stands for Indian Financial System Code and is used in India only. Our guide – SWIFT Code vs IFSC Code – helps to explain the key differences.
What is my BIC?
BIC is an acronym for Business Identifier Code, which is a type of bank code used to identify a banking or financial institution. Interchangeable with SWIFT code, BICs convey vital information during international money transfers.
A BIC code is typically 8 – 11 characters: for example, in the UK, your BIC could appear as“AAAABBCCDDD”. If you want to locate your BIC, you will find it on bank statements, via online banking or enquiring with a member of staff. Learn all about BIC/SWIFT codes.
What is IBAN and SWIFT code?
IBAN stands for International Bank Account Number, while SWIFT is an acronym for the Society of Worldwide Interbank Financial Telecommunications. Both IBAN and SWIFT are a type of bank code used to identify different financial institutions during international transactions. Although used to convey similar information they are in fact quite different. Our full guide on IBAN and SWIFT codes can be found here.
How to find a SWIFT code from an IBAN?
Many people assume that due to the similar functionality of these two bank codes, that a SWIFT code can be derived from an International Bank Account Number (IBAN). In actual fact, this is not possible. Find out more in our guide: How to find SWIFT code from IBAN.
Is a SWIFT code the same as a Routing Number?
SWIFT codes are universal identifiers used during international money transfers, whereas Routing Numbers identify banks and financial institutions in the US only. Iron out all the differences between SWIFT code and Routing Number, by reading our comparison guide.
How to transfer money using a SWIFT code?
SWIFT codes are used to securely communicate the details of an international money transfers, between banks and financial institutions, using the SWIFT network. Our helpful guide, all about how SWIFT payments work, can be found here.
How to check a SWIFT code?
The best way to verify a SWIFT code is by directly contacting the associated bank or financial institution. There are also numerous free SWIFT code checker tools online, but exercise caution when using these platforms, and be sure to verify the source.
What does a SWIFT code look like?
A SWIFT code is made up of 8 to 11 characters which provide crucial details such as the address, branch number and destination country of the associated remittance. To learn more about the formatting of a SWIFT code, check out this guide.
What is a SWIFT code used for?
A SWIFT code is used to convey information about a banking or financial institution during an international money transfer. Find out more in our guide, How do SWIFT payments work?
Do you need a SWIFT code to make an international transfer?
SWIFT codes are used to communicate messages from one bank account to another in a different country. You will be asked to provide a SWIFT code required for money transfers such as an international wire transfer or a SEPA payment.
Are SWIFT codes the same for all bank branches?
SWIFT codes are issued by the Society for Worldwide Interbank Financial Telecommunication, whereas sort codes are issued by banks. We have written a guide all about the differences between Sort codes and SWIFT codes so our customers can decipher between the two.
What if my bank doesn't have a SWIFT code?
SWIFT codes are used by over 200 countries around the world. However, it is still worth contacting your financial institution directly to find out about the SWIFT code associated with your bank. Find out all about How Do SWIFT Payments Work?
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The top provider is the money transfer service that we believe is the most suitable for the country you’re sending money to. In order to keep our service free we factor in the commercial agreements we have with partners into this ranking.
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We make sure that each table displays the most relevant brands to the country you are sending money to and from. We consider many factors when choosing the providers to display in the table.All of the providers we display are fully regulated to provide money transfer services in the jurisdiction you are searching, relevant regulatory authorities are the FCA, ASIC, Fincen, FINTRAC & AMF. Alongside being regulated the services are manually checked by our team for both quality of service and online trust from such platforms like Trustpilot and Google reviews.We base our rankings primarily on the quality of the service provided, the benefit to the consumer and to keep our service free – the commercial agreements we have.
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