BIC / SWIFTcode
Bank Identifier Code
- What it is
- A bank’s unique code in the international payment system
- What it looks like
- 8 or 11 characters: bank, country, city and, if needed, branch
- Another name
- The SWIFT code is the same thing
- Why it is needed
- Shows which bank the payment message should go to
- Where to get it
- In the recipient’s official details or from your bank
In plain words
A BIC (Bank Identifier Code) is a bank’s unique code in the international payment system. In everyday speech it is called the SWIFT code, and that is correct: it is the same detail. Put simply: the IBAN answers the question “which account”, and the BIC the question “which bank”.
The code consists of 8 or 11 characters. The first four identify the bank, the next two the country, and two more the city or head office. If the last three characters are added, they indicate a specific branch. An eight-character code usually routes the payment to the bank’s head office.
In practice the BIC decides which route your transfer will take and through which correspondent banks. An error in the code is a common cause of returns and delays: the message goes to the wrong place, the money gets stuck in the chain, and sorting it out takes days. That is why the details are always checked against the recipient’s official letter.
When you will need a BIC
What a BIC consists of
- The bank’s identifier
- Letters only
- Unique to the institution
- Country code
- Two letters
- A standard format
- City or head office
- Letters or digits
- Determines the route
- Branch code
- Not always given
- Without them — the head office
How to use a BIC correctly
- 01Get the details officially
- 02Check the BIC against the bank’s name
- 03Give it together with the IBAN
- 04Send the transfer
- 05Confirm crediting
What you need to know
- A BIC and a SWIFT code are the same thing
- The code is 8 or 11 characters long
- The last three characters indicate the branch
- Without them the payment goes to the head office
- An error in the code leads to a return or delay
Common mistakes
- Taking the bank code from the internet rather than from the recipient
- Mixing up the head office BIC and a branch BIC
- Giving the code of a bank that has closed that route
- Sending a transfer without a BIC when the bank requires it
- Not checking that the BIC matches the country of the account
What this means for a BRIDGES client
We check the BIC and IBAN before the transfer and request official confirmation of the details from the recipient’s side. For large sums this is a mandatory step: it protects against both a simple typo and details being substituted in correspondence.
Frequently asked questions
01 /Are a BIC and a SWIFT code different?
No, they are the same detail. BIC is the official name, SWIFT code the colloquial one.
02 /Why is the code 8 or 11 characters long?
Eight characters route the payment to the bank’s head office, eleven to a specific branch. Both work if that is what the recipient gave.
03 /What does a BIC show?
The bank, country and city, and with 11 characters the branch too. From it the system knows where to deliver the payment message.
04 /Is a BIC needed if the IBAN is known?
As a rule, yes. Many banks require both details, although some payments within Europe go through on the IBAN alone.
05 /What happens with a wrong BIC?
The payment will either not be accepted or go to the wrong place and come back, with time and fees lost. That is why the code is checked against the official details.
06 /Where do you get the correct BIC?
From the recipient — in a bank letter, an invoice or a programme document. Data from a search engine may be out of date.
See also
Read next
This material has undergone editorial review by BRIDGES.
Preparing a large transfer?
We will check the details and payment route in advance — so that the money does not get stuck in the chain of banks.