Last reviewed: · Curated by Ohmyfin Organisation editorial.
BIC and IBAN are complementary, not interchangeable. The BIC (Business Identifier Code, sometimes called a SWIFT code) identifies the bank. The IBAN (International Bank Account Number) identifies the specific account inside that bank.
Details
Example: GB82WEST12345698765432 is an IBAN — the GB is the country, WEST is the bank, 1234 is the sort code, 56789876543 is the account. The BIC for that bank might be NWBKGB2L.
SEPA payments inside the EU only need the IBAN (the BIC is derived). SWIFT cross-border payments outside SEPA usually need both, plus the beneficiary name and address.
At-a-glance comparison
BIC vs IBAN — side-by-side comparison
BIC
IBAN
Identifies
A bank or branch
An account at a bank
Standard
ISO 9362
ISO 13616
Length
8 or 11 chars
Up to 34 chars (varies by country)
Required for SEPA
Optional (derivable)
Required
Required for SWIFT cross-border
Yes
Usually yes (or local account no.)
Example
NWBKGB2L
GB82WEST12345698765432
Key facts
BIC: identifies the bank (8 or 11 chars)
IBAN: identifies the account (up to 34 chars)
SEPA: IBAN-only
Cross-border SWIFT: BIC + IBAN (or local account number)
Frequently asked questions
Can I look up a BIC from an IBAN?
For SEPA countries, yes — the BIC is derivable. Outside SEPA you need to ask the beneficiary or use a BIC directory.
Related — more from payment system comparisons and beyond
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