Glossary · Payment methods
SWIFT/BIC code
Also called BIC, SWIFT code
A SWIFT or BIC code is the 8- or 11-character identifier of a bank, used to route international payments to the right institution.
A BIC (Business Identifier Code), commonly called a SWIFT code, identifies a bank for international transfers. It is made of a 4-letter bank code, a 2-letter country code, a 2-character location code and, optionally, a 3-character branch code.
For a cross-border wire, your invoice should show your account number or IBAN and your bank’s BIC. Missing or wrong details are a common, avoidable reason international payments are delayed or returned.
Within SEPA, euro payments need only the IBAN; the BIC is no longer required.
Copy your BIC from your bank’s own documentation or online banking rather than a lookup site, and check it on your invoice template. A wrong character can send the payment to a different bank, or bring it back weeks later with fees deducted on the way.
Example
A UK supplier’s invoice to a client in Singapore shows its IBAN and its bank’s BIC, an 8-character code. The client’s bank routes the payment without querying the details.