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A BIC (Business Identifier Code), commonly called a SWIFT code, is the international standard (ISO 9362) for identifying financial institutions in cross-border payments. It is 8 or 11 characters long.
Details
The structure is: 4-letter bank code + 2-letter ISO country code + 2-character location code + optional 3-character branch code. An 8-character BIC identifies the bank's head office; 11 characters identify a specific branch.
Examples: CHASUS33 (JPMorgan Chase, New York) is an 8-character head-office BIC. DEUTDEFF500 is an 11-character branch BIC for Deutsche Bank in Frankfurt.
BICs route SWIFT MT and ISO 20022 messages between banks. They are not bank account numbers — for the account itself, you also need an IBAN or local account number.
Key facts
8 characters = head office; 11 characters = specific branch
Format: BANK + COUNTRY + LOCATION + (BRANCH)
ISO 9362 international standard
Used to route SWIFT MT and ISO 20022 messages
Frequently asked questions
BIC vs SWIFT code — are they different?
No — they are the same thing. "SWIFT code" is the colloquial name; "BIC" (Business Identifier Code) is the formal ISO 9362 name.
Where do I find a bank's BIC?
On the bank's website, on a bank statement, on Ohmyfin's SWIFT directory, or by asking the bank directly.
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