Tuesday, May 16, 2017

SWIFT BIC Code for Wire transfer

A SWIFT BIC, often just called BIC (Business Identifier Codes ), is an 8 or 11 character identification code for a particular bank.

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication Code. Swift BIC code is used for transfer methods lke Wire transfer across countries to transfer money from one bank to another bank

IFSC and Swift code are completely different. IFSC is used to transfer money within India  and SWIFT is used to transfer money across the countires.

Your bank's SWIFT BIC may be printed at the top of your bank statements. Or, contact your bank to get their code.

Banks use SWIFT BICs when they transfer money or send a message to another bank.