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How To Read a SWIFT Code
Understand each component of this SWIFT/BIC code by clicking on the different parts below
Financial Institution
Search for a SWIFT Code
Validate a SWIFT code or find a SWIFT code for a specific bank.
What is a SWIFT/BIC code?
A SWIFT code (also known as BIC) is a unique identifier that helps banks worldwide transfer money to your account. It's essential for international wire transfers and cross-border payments.
Where can I find my SWIFT code?
You can find your bank's SWIFT code on your bank statement, through your online banking portal, or by contacting your bank directly.
How long is a SWIFT code?
A SWIFT code is either 8 or 11 characters long. The 8-character code refers to the bank's head office, while the 11-character code specifies a particular branch.
Are SWIFT and BIC codes the same?
Yes, SWIFT and BIC codes are the same thing. The terms are used interchangeably.
Can a bank have multiple SWIFT codes?
Yes, a bank can have multiple SWIFT codes, especially if it has branches in different cities or countries.
How long does a SWIFT transfer typically take?
SWIFT transfers usually take 1-5 business days. The exact duration depends on factors like destination country, intermediary banks, time zones, and bank processing times.
What information do I need for a SWIFT transfer?
You'll need the recipient's full name, bank account number, bank name, SWIFT/BIC code, and sometimes their address. Additional details like purpose of payment or intermediary bank information may be required for certain countries.
Are there any transfer limits with SWIFT?
SWIFT itself doesn't impose limits, but your bank may have daily or transaction limits. These limits vary by bank and account type. Large transfers might require additional documentation or verification.
What are the typical fees for SWIFT transfers?
Fees typically include sending bank charges (€10-50), receiving bank fees (€5-15), and possible intermediary bank fees (€10-20). Exchange rates may also include a markup. Always check with your bank for exact fees.
Is SWIFT transfer secure?
Yes, SWIFT transfers are highly secure, using multiple layers of encryption and authentication. Each transaction has a unique reference number for tracking, and banks must verify sender and recipient details.
What happens if there's an error in a SWIFT transfer?
If there's an error, the transfer might be delayed or returned. Contact your bank immediately with the tracking number. Recovery processes can take 5-10 business days, depending on the error type.
Can I cancel a SWIFT transfer?
You can request cancellation if the transfer hasn't been processed by the receiving bank. Contact your bank immediately. Once processed, cancellation may not be possible, and recovery depends on the recipient's cooperation.
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