Do you ever send the money internationally or receive money from the Foreign countries. Then you’ll come with the asked question “what is your SWIFT / BIC CODE?”
You need a SWIFT / BIC CODE to do this transaction services.
This article will help you to know
- What IS A SWIFT CODE / BIC CODE?
- How to find your SWIFT/BIC code?
- When is a SWIFT code needed?
- SWIFT Codes (BICs) of World’s Largest Banks
WHAT IS A SWIFT / BIC CODE?
- BIC stands for Bank Identifier Code
- SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication
Swift Code is the standard format for Business Identifier Codes (BIC), it is a Unique Identification code for banks and both financial and non-financial institutions.
BIC is also known as SWIFT code, BIC code, SWIFT ID or SWIFT BIC all of this are the same.
When it is assigned to a non-financial institution, the code is known as a Business Entity Identifier or BEI. This SWIFT / BIC CODE is required when you are making an international transaction with the banks, for international wire transfer and Single Euro Payments Area (SEPA) payments to check the money is going to the correct place. This code is also used for sharing or making messages between banks.
SWIFT code, BIC code, SWIFT ID or SWIFT – BIC (ISO 9362) is a standard format of Business Identifier Codes approved by the International Organization for Standardization (ISO).
This code is of 8-11 character used to check the Specific bank in an international transaction, to make sure the money is going to the correct place.
- Bank code A-Z
Country code A-Z
Location code – 2 letters or digits ( 0-9 A-Z )
- If the second character is “0”, then it is typically a test BIC as opposed to a BIC used on the live network.
- If the second character is “1”, then it denotes a passive participant in the SWIFT network
- If the second character is “2”, then it typically indicates a reverse billing BIC, where the recipient pays for the message as opposed to the more usual mode whereby the sender pays for the message.
- 2-digit location code that could be either 2-letters or numbers. It says where that bank’s head office is.
- Branch Code 0-9 A-Z
- DEUT identifies Deutsche Bank
- DE is the country code for Germany
- FF is the code for Frankfurt
Deutsche Bank uses an extended code of 11 digits and has assigned branches or processing areas individual extended codes. This allows the payment to be directed to a specific office. For example, DEUTDEFF500 would direct the payment to an office of Deutsche Bank in Bad Homburg.
How to find your SWIFT/BIC code?
In your Bank account statement, you’ll easily find your bank’s BIC or SWIFT code. You can also find Online tools to find the BIC / SWIFT code.
When is a SWIFT code needed?
Whenever you are doing an international transfer, a SWIFT code is necessary to complete the transaction. It is usually paired with an IBAN (International Bank Account Number). Once the transfer is completed, the bank that receives the money issues a ‘SWIFT message’, a confirmation that funds were received and contains the full information about the transfer.
For eg., you can think of a SWIFT/BIC code as a bit like an international postal code so that a bank on one side of the world finds the right bank on the other side of the world.
It is, therefore, an important piece of information to include in an invoice if you have customers abroad. It makes payment faster because the customer will not need to request the information, and ensure that your transfer is secure.
SWIFT Codes (BICs) of World’s Largest Banks
|No||Bank Name||Country||Swift Code|
|1||JP Morgan Chase||USA||CHASUS33XXX (CHASUS33)|
|2||Industrial and Commercial Bank of China (ICBC)||China||ICBKCNBJXXX (ICBKCNBJ)|
|3||Bank of America||USA||BOFAUS3NXXX (BOFAUS3N)|
|4||Wells Fargo||USA||WFBIUS6SXXX (WFBIUS6S)|
|5||China Construction Bank (CCB)||China||PCBCCNBJXXX (PCBCCNBJ)|
|6||HSBC Holdings PLC||UK||MIDLGB22XXX (MIDLGB22)|
|7||Agricultural Bank of China||China||ABOCCNBJXXX (ABOCCNBJ)|
|9||Bank of China||China||BKCHHKHHXXX (BKCHHKHH)|
|10||China Merchants Bank||China||CMBCCNBSXXX (CMBCCNBS)|
|11||Royal Bank of Canada||Canada||ROYCCAT2XXX (ROYCCAT2)|
|12||The Toronto-Dominion Bank||Canada||TDOMCATTXXX (TDOMCATT)|
|13||Commonwealth Bank of Australia||Australia||CTBAAU2SXXX (CTBAAU2S)|
|14||Morgan Stanley||USA||MSNYUS33XXX (MSNYUS33)|
|15||Goldman Sachs||USA||GOLDUS33XXX (GOLDUS33)|
|16||Banco Santander||Spain||BSCHESMMXXX (BSCHESMM)|
|17||Mitsubishi UFJ Financial Group||Japan||BOTKJPJTXXX (BOTKJPJT)|
|18||U.S. Bancorp||USA||USBKUS44XXX (USBKUS44)|
|19||BNP Paribas||France||BNPAFRPPXXX (BNPAFRPP)|
|20||Bank of Nova Scotia||Canada||NOSCCATTXXX (NOSCCATT)|
|22||Itau Unibanco Holding||Brazil||ITAUBRSPXXX (ITAUBRSP)|
|23||PNC Financial Services Group||USA||PNCCUS33XXX (PNCCUS33)|
|24||Bank of Communications||China||COMMCNSHXXX (COMMCNSH)|
|25||Lloyds Banking Group||UK||LOYDGB2LXXX (LOYDGB2L)|
|26||Sumitomo Mitsui Financial Group||Japan||SMBCJPJTXXX (SMBCJPJT)|
|27||UBS AG||Switzerland||UBSWCHZHXXX (UBSWCHZH)|
|28||ANZ Banking Group||Australia||ANZBAU3MXXX (ANZBAU3M)|
|29||ING Group||Netherlands||INGBNL2AXXX (INGBNL2A)|
|30||Bank of New York Mellon||USA||IRVTUS3NXXX (IRVTUS3N)|
|31||National Australia Bank||Australia||NATAAU33XXX (NATAAU33)|
|32||Intesa Sanpaolo||Italy||BCITITMMXXX (BCITITMM)|
|33||Banco Bradesco||Brazil||BBDEBRSPXXX (BBDEBRSP)|
|34||Bank of Montreal||Canada||BOFMCAT2XXX (BOFMCAT2)|
|35||Capital One||USA||HIBKUSH1XXX (HIBKUSH1)|
|38||Mizuho Financial Group||Japan||MHCBJPJTXXX (MHCBJPJT)|
|39||Royal Bank of Scotland Group||UK||RBOSGB2LXXX (RBOSGB2L)|
|40||China CITIC Bank||China||ITRCCNB1XXX (ITRCCNB1)|
|41||China Minsheng Banking Corp||China||MSBCCNBJXXX (MSBCCNBJ)|
|42||Credit Suisse Group||Switzerland||CRESCHZFXXX (CRESCHZF)|
|43||Nordea Bank||Sweden||NDEASESSXXX (NDEASESS)|
|44||Credit Agricole||France||AGRIFRPPXXX (AGRIFRPP)|
|47||Societe Generale||France||SOGEFRPPXXX (SOGEFRPP)|
|48||Standard Chartered||UK||SCBLGB2LXXX (SCBLGB2L)|
|49||KBC Group||Belgium||KREDBEBBXXX (KREDBEBB)|
|50||Deutsche Bank||Germany||DEUTDEFFXXX (DEUTDEFF)|