What Is a SWIFT Code and How Does It Work?
Last updated 06/08/2026 by
Ante Mazalin
Edited by
Andrew Latham
Summary:
A SWIFT code is a standardized 8 to 11-character identifier that names a specific bank and branch in international money transfers.
It tells the global banking network exactly which institution should receive a payment.
- Also called: A BIC, or Bank Identifier Code, the two terms are interchangeable.
- Used for: Cross-border wire transfers and international payments between banks.
- Made up of: A bank code, a country code, a location code, and an optional branch code.
- Not the same as: A routing number, which is used for domestic U.S. transfers.
Sending money abroad for the first time means facing a string of codes that all look alike. The SWIFT code is the one that points the payment to the right bank anywhere in the world.
What a SWIFT code is
A SWIFT code identifies a financial institution during an international transfer. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication, the network that carries secure payment messages between more than 11,000 institutions globally.
The code is governed by an international standard, ISO 9362, which is why a SWIFT code and a BIC refer to the same thing. Banks use it to route a payment to the exact institution and branch that holds the recipient’s account.
How a SWIFT code is structured
Every SWIFT code follows the same format, which is what lets banks read it consistently across borders. It is either 8 characters, identifying the bank’s head office, or 11 characters, identifying a specific branch.
| Segment | Length | What it identifies |
|---|---|---|
| Bank code | 4 letters | The institution, often an abbreviated name |
| Country code | 2 letters | The country, using the ISO standard |
| Location code | 2 characters | The city or head office region |
| Branch code | 3 characters (optional) | A specific branch; “XXX” means head office |
For example, a code like BOFAUS3N breaks down into the bank (BOFA), the country (US), and the location (3N). When no branch code appears, the payment routes to the bank’s primary office.
SWIFT code vs. routing number vs. IBAN
These three identifiers get confused because they all direct payments, but each works in a different context. Using the wrong one can delay or misroute a transfer.
- SWIFT code: Identifies the bank in international transfers. Required for sending money across borders.
- Routing number: A nine-digit number that identifies a U.S. bank for domestic transfers and direct deposits.
- IBAN: An International Bank Account Number that identifies the specific account, used mainly in Europe alongside a SWIFT code.
In the U.S., banks rely on the routing number for domestic activity and a SWIFT code for incoming international wires.
Pro Tip
Always confirm the SWIFT code directly with the recipient’s bank or a recent statement, not a search result. A single wrong character can send the SWIFT transfer to the wrong institution, and recovering a misdirected international wire is slow and sometimes impossible.
Where to find a SWIFT code
Your bank’s SWIFT code is not printed on checks the way a routing number is, but it is easy to locate through a few reliable sources.
How to find your bank’s SWIFT code
- Check your bank statement: Many banks list the SWIFT code in the account details section.
- Log into online banking: Look under account information or wire transfer instructions.
- Visit the bank’s website: Most institutions publish their SWIFT code on international transfer pages.
- Call the bank: Customer service can confirm the exact code, including the branch suffix if needed.
- Use the official SWIFT directory: The SWIFT organization maintains a searchable BIC lookup.
For an incoming transfer, the sender needs your bank’s SWIFT code plus your account number, and sometimes an IBAN if the originating country uses one.
Related reading on bank transfers
- Routing number: the nine-digit code that identifies a U.S. bank for domestic transfers.
- Wire transfer: how funds move directly between banks, including international wires.
- ACH transfer: the domestic network behind direct deposits and bill payments.
- Checking account: the everyday account that sends and receives most transfers.
Frequently asked questions
Is a SWIFT code the same as a BIC?
Yes. SWIFT code and BIC (Bank Identifier Code) are two names for the same identifier defined under ISO 9362. Banks use the terms interchangeably.
Do I need a SWIFT code for a domestic transfer?
No. Domestic U.S. transfers use a routing number. A SWIFT code is only needed when money crosses an international border.
What’s the difference between an 8 and 11 character SWIFT code?
An 8-character code identifies the bank’s head office. An 11-character code adds a branch suffix that points to a specific branch. If you only have the 8-character version, the payment routes to the main office.
Where do I find my SWIFT code?
Check your bank statement, online banking portal, or the bank’s international transfer page. You can also call the bank or search the official SWIFT BIC directory.
What happens if I use the wrong SWIFT code?
The transfer may be delayed, rejected, or sent to the wrong bank. Recovering a misdirected international wire can be difficult, so always verify the code before sending.
Key takeaways
- A SWIFT code is an 8 to 11 character identifier that names a bank and branch in international transfers.
- It is the same thing as a BIC and is defined by the ISO 9362 standard.
- The code contains a bank code, country code, location code, and an optional branch code.
- It is used for cross-border payments, while routing numbers handle domestic U.S. transfers.
- Verify the code with the recipient’s bank before sending, since errors are hard to reverse.
If you move money internationally often, the account you keep it in affects your fees and transfer speed. You can compare checking and savings accounts to find one built for global transfers.
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