5 min read

Understanding SWIFT / BIC Codes

What the 8 or 11 characters of a SWIFT/BIC really mean, and when you need one.

Anatomy of a SWIFT/BIC

A BIC is 8 or 11 characters: 4 letters for the bank, 2 letters for the country, 2 characters for the location, and an optional 3-character branch code. 'DEUTDEFF' identifies Deutsche Bank's primary office in Frankfurt, Germany.

Primary office vs branch

An 8-character BIC, or one ending in 'XXX', refers to the primary office. Any other 3-character suffix identifies a specific branch — important for routing to the right department for large institutions.

When you actually need one

SWIFT/BIC is required for international wires outside SEPA, and is still requested by many banks even within SEPA. For domestic transfers you usually only need the account number and a sort/routing code.

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Frequently asked questions

Effectively yes. 'BIC' is the formal ISO 9362 term; 'SWIFT code' is the colloquial name because SWIFT is the network that registers and routes them.
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