SWIFT vs BIC: What Is the Difference?
SWIFT and BIC are commonly used to describe the same international bank identifier. A bank may call it a SWIFT code, BIC code or SWIFT/BIC code on its payment instructions.
Are they different?
In everyday banking, SWIFT code and BIC code mean the same thing. SWIFT is the network and organization name, while BIC stands for Bank Identifier Code.
Why banks use both terms
Different banks and payment forms use different labels. If a form asks for SWIFT or BIC, use the same code unless the bank specifically asks for another identifier.
What to verify
Check the bank name, country and branch. A code can be valid in format but still point to the wrong institution if it belongs to a different branch.
Check a SWIFT/BIC code now
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