What is Bank SWIFT Code?
SWIFT Code is a unique identification code for a particular bank and it is a standard format of Bank Identifier Codes (BIC).
SWIFT Codes are used for transferring money and messages between banks.
SWIFT Code is 8 or 11 characters for a bank. If SWIFT Code is 8 character code then it points to the primary branch/office
- First 4 characters represents bank code.
- Next 2 characters represents ISO 3166-1 alpha-2 country code.
- Next 2 characters represents location code. (letters and digits) (passive participant will have "1" in the second character)
- Last 3 characters represents branch code. These characters are optional. ('XXX' for primary office)