Question 1

What is a SWIFT/BIC code?

Accepted Answer

A SWIFT code (Society for Worldwide Interbank Financial Telecommunication) is a unique identification code used to identify banks in international financial transactions. Also known as a BIC (Bank Identifier Code), it consists of 8 or 11 characters.

Question 2

How do I find my SWIFT code?

Accepted Answer

You can find your SWIFT code on your bank statement, through your online banking portal, or by using the search tool on this page. You can also contact your bank directly for this information.

Question 3

What is the difference between SWIFT and BIC codes?

Accepted Answer

SWIFT code and BIC code are the same thing. SWIFT is the name of the network that operates this code system, while BIC (Bank Identifier Code) is the official name of the code itself.

Question 4

Is a SWIFT code the same as an IBAN?

Accepted Answer

No. A SWIFT code identifies the bank itself, while an IBAN (International Bank Account Number) identifies a specific account. You may need both for international transfers.

Question 5

Is a SWIFT code the same as a routing number?

Accepted Answer

No. A routing number (ABA Routing Number) is a 9-digit number used for domestic US bank transactions, while a SWIFT code is used for international transactions. US banks have both.

Question 6

When do I need a SWIFT code?

Accepted Answer

You need a SWIFT code when sending or receiving money to/from a bank account abroad, or when making international wire transfers. The recipient bank's SWIFT code ensures accurate delivery.

Question 7

How does a SWIFT code work?

Accepted Answer

The SWIFT network connects over 11,000 financial institutions worldwide. When you make an international transfer, the SWIFT code helps the sending bank identify the receiving bank precisely to route funds correctly.

Question 8

Are SWIFT codes the same worldwide?

Accepted Answer

Yes, SWIFT codes follow the international standard ISO 9362 and are universal. The same format is used across all countries to identify banks globally.

Question 9

Is a SWIFT code required for business international transfers?

Accepted Answer

Yes, the recipient bank's SWIFT code is mandatory for business wire transfers and trade payments. An incorrect code can result in a returned or misdirected payment. uTransfer BIZ offers invoice-based business transfers at up to 90% lower fees than banks.

Question 10

Why should I verify the SWIFT code before sending a trade payment?

Accepted Answer

SWIFT codes can change, and branch codes may vary. A wrong code can delay or reverse your payment. It is strongly recommended to confirm the latest SWIFT code with your overseas partner before sending trade payments, especially for first-time transactions.

Find the right SWIFT/BIC code
for your transfer

What is a SWIFT/BIC code?

SWIFT/BIC Code Format

SWIFT Codes by Country

Frequently Asked Questions

Send money faster and cheaper

Find the right SWIFT/BIC codefor your transfer

What is a SWIFT/BIC code?

SWIFT/BIC Code Format

SWIFT Codes by Country

Frequently Asked Questions

What is a SWIFT/BIC code?

How do I find my SWIFT code?

What is the difference between SWIFT and BIC codes?

Is a SWIFT code the same as an IBAN?

Is a SWIFT code the same as a routing number?

When do I need a SWIFT code?

How does a SWIFT code work?

Are SWIFT codes the same worldwide?

Is a SWIFT code required for business international transfers?

Why should I verify the SWIFT code before sending a trade payment?

Send money faster and cheaper

Find the right SWIFT/BIC code
for your transfer