SWIFT and BIC codes are basically the same. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) handles the registration of these codes. For this reason, Bank Identifier Codes (BICs) are often called SWIFT addresses or codes. SWIFT codes or the bank identifier codes are provided to financial institutions by the Society for Worldwide Interbank Financial Telecommunication, which is put to use to identify financial as well as non-financial institutions.
Bank swift code which is also referred to as the BIC code is a unique code that is used to recognize financial and non-financial institutions. The bank swift code comes with eight or eleven characters that throw light on details regarding the bank code, country code, location code, and the branch code. The first four letters of a eleven digit bank swift code is but the bank code, followed by another two digits that identifies the country code, as the next two letters help identify the location of the financial institution. The last three letters tell us more about the branch related to a financial institution, which is but an optional code of letters that come along with the other details of a financial institution.
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Bank swift code which is also referred to as the BIC code is a unique code that is used to recognize financial and non-financial institutions. The bank swift code comes with eight or eleven characters that throw light on details regarding the bank code, country code, location code, and the branch code. The first four letters of a eleven digit bank swift code is but the bank code, followed by another two digits that identifies the country code, as the next two letters help identify the location of the financial institution. The last three letters tell us more about the branch related to a financial institution, which is but an optional code of letters that come along with the other details of a financial institution.
To find more information about Bank Swift Code, Please join our social network at Likes.com, Plurk.com, Reddit.com and Alpha.app.net.
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