Keyword Analysis & Research: swift definition code

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What is the meaning of 'SWIFT code'?

Swift Code is also known as Bank Identifier Code (BIC). SWIFT Code is a unique identification code for a particular bank and it is a standard format of Bank Identifier Codes (BIC). SWIFT Codes are used for transferring money and messages between banks. SWIFT Code is 8 or 11 characters for a bank.

What does the SWIFT code stand for?

BIC or SWIFT codes are used for transferring money overseas. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication and BIC stands for Bank Identifier Code. Together they make up the 8-11 character identification code of a bank or financial institution.

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