ISO 9362

ISO 9362 (also known as SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Bank Identifier Codes approved by the International Organization for Standardization (ISO). It is the unique identification code of a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. The codes can sometimes be found on account statements.

The overlapping issue between ISO 9362 and ISO 13616 is discussed in the article International Bank Account Number (also called IBAN).

The SWIFT code is 8 or 11 characters, made up of:
* 4 characters - bank code (only letters)
* 2 characters - ISO 3166-1 alpha-2 country code (only letters)
* 2 characters - location code (letters and digits) (if the second character is '1', then it denotes a passive participant in the SWIFT network)
* 3 characters - branch code, optional ('XXX' for primary office) (letters and digits)

Where an 8-digit code is given, it may be assumed that it refers to the primary office.

SWIFT Standards, a division of 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.

There are over 7,500 "live" codes (for partners actively connected to the BIC network) and an estimated 10,000 additional BIC codes which can be used for manual transactions.

Examples

Deutsche Bank is an international bank, with its head office in Frankfurt, Germany. The SWIFT code for its primary office is DEUTDEFF:
* DEUT identifies Deutsche Bank
* DE is the country code for Germany
* FF is the code for FrankfurtDeutsche Bank uses an extended code of 11 digits and has assigned branches or processing areas individual extended codes. This allows the payment to be directed to a specific office. For example, DEUTDEFF500 would direct the payment to an office of Deutsche Bank in Bad Homburg.

Nedbank is a primarily South African bank, with its head office in Johannesburg. The SWIFT code for its primary office is NEDSZAJJ:
* NEDS identifies Nedbank
* ZA is the country code for South Africa
* JJ is the code for JohannesburgNedbank has not implemented the extended code of 11 digits and all SWIFT transfers to its accounts are directed to the primary office for processing. Those transfer interfaces that require an 11 digit code would enter NEDSZAJJXXX.

12-character SWIFTNet FIN address based on BIC

To identify endpoints on its network, SWIFT also uses 12-character codes that are derived from the BIC of the institution. Such a code consists of the BIC8, followed by 1-character code that identifies the Logical Terminal (LTC), or "local destination", and the 3-character branch code. These 'BIC12's are not part of the ISO standard, and are only relevant in the context of the messaging platform.

ee also

* IBAN, usually also required with money transfers
* Bank Identification Number (BIN)
* Value transfer system

External links

* [http://www.swift.com/biconline/ Bank Identifier Code] SWIFT.com home page
* [http://www.swift.com/bsl/freequery.do Official SWIFT search tool for bank names and Bank Identifier Codes]
* [http://www.jknc.eu/IBANCalculator Free IBAN On-line check and IBAN-converter for all 46 IBAN Countries]
* [http://www.iban-bic.com/blz.0.html?L=2 Bank Identifer Codes and IBANs] An IBAN calculator and validator that shows Bank Identifier Codes and Bankleitzahlen for German, Austrian, Estonian, Dutch, Hungarian, Swiss, Greek, and Belgian bank accounts
* [https://www.unifiedsoftware.co.uk/com/iban.php Online access to IBAN validator web service]