Find SWIFT Code By Bank or City Name
WHAT IS A SWIFT CODE?
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) code is an 8 or 11 character unique identification code for a particular bank. The SWIFT code is a standard format of Bank Identifier Codes (BIC) and is used for transferring money between banks, especially for international wire transfers.
It is used by both financial and non-financial institutions. When SWIFT code is assigned to a non-financial institution the code is known as a Business Entity Identifier (BEI). At present there are over 40,000 "live" SWIFT codes. The "live" codes are for the people who are actively connected to the SWIFT network.
DECODING SWIFT CODES
The SWIFT code comprises of 8 to 10 characters. Example -PPPP QQ RR SSS
- The initial four characters depict bank code. (PPPP)
- The fifth and the sixth character are in the form of only letters, which depict country code. (QQ)
- The next two characters represent location code. (RR)
- The remaining characters depict the primary office, which they use. (SSS)
HOW IS SWIFT CODE GENERATED?
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) handles the registration of Swift Codes. Its headquarter is situated in La Hulpe, Belgium.
Swift code is used for money transfers between two different banks that are a member of the swift network. The code may also be known as a Business Entity Identifier or BEI if assigned to a non-financial organization.
This code is a part of ISO 9362 standards. It is a standard format of Business Identifier Codes (“BIC”).