SWIFT vs IBAN: What Is the Difference?
A SWIFT/BIC code identifies a bank, while an IBAN identifies a specific bank account. Many international transfers need both.
SWIFT/BIC identifies the bank
The SWIFT/BIC code tells the payment network which bank should receive the transfer. It does not contain the customer account number.
IBAN identifies the account
An IBAN is an international account number used mainly in Europe and several other regions. It includes country and check-digit information.
Using them together
For an IBAN payment, enter the IBAN in the account field and the SWIFT/BIC code in the bank identifier field if the form asks for both.
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