BICSWIFTkood

BIC/SWIFT code is the internationally recognized identifier used to identify banks and other financial institutions in cross-border payment messaging. The term is commonly shortened to BIC or SWIFT code, and both refer to the same 8- or 11-character identifier. The BIC is defined by ISO 9362 and is used within the SWIFT network to route messages for international transfers.

Structure: A BIC consists of four parts and, in 11-character form, an optional three-character branch code. The first four characters are the bank code (only letters). The next two characters are the country code (ISO 3166-1 alpha-2). The next two characters are the location code (letters and digits). The last three characters, if present, denote the branch code (letters and digits). For example, DEUTDEFF represents Deutsche Bank in Germany, with Frankfurt as the location; an 11-character version like DEUTDEFF500 could indicate a specific branch.

Usage: BICs are used in international payments to identify the recipient bank and guide the SWIFT message. They are often used together with IBANs but are technically distinct: IBAN identifies the account, while the BIC identifies the bank. BICs appear in payment instructions such as MT103 and MT202, and are provided by the recipient bank or found in public directories.

Availability: Banks publish their BICs, and directories maintained by SWIFT list the codes. When sending an international payment, confirm the correct BIC and branch where applicable, as inaccuracies can delay transfers.