Every bank that belongs to the SWIFT network has one or more SWIFT codes that correlate to the bank’s business identifier code or codes.

Do you need an IBAN, a SWIFT code or both for your international funds transfer? Learn how they work together, as well as the differences between them.

BRUSSELS - Swift has obtained the go-ahead from its board to extend the bank identifier code (BIC) to corporates and non-financial institutions, and has been engaged in several industry consultations ...