ISO 9362
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ISO 9362 (also known as SWIFT or BIC code) is a standard format of Bank Identifier Codes approved by the International Organization for Standardization.
These codes are used when transferring money between banks, particularly international transfers.
The code is 8 or 11 characters, made up of:
- 4 characters - bank code
- 2 characters - ISO country code
- 2 characters - location code
- 3 characters - branch code, optional ( 'XXX' for primary office)
As an example, Deutsche Bank is an international bank; its head office is based in Frankfurt, Germany. Its SWIFT code for its primary office is DEUTDEFF - DEUT identifies Deutsche Bank; DE is the country code for Germany, and FF is the code for Frankfurt.
Using an extended code of 11 digits (if the receiving bank has assigned branches or processing areas individual extended codes) allows the payment to be directed to a specific office. For example, DEUTDEFF500 would direct the payment to an office of Deutsche Bank in Bad Homburg.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) handles the registration of these codes. For this reason Bank Identifier Codes (BICs) are often called SWIFT addresses or codes.
There are over 7,500 "live" codes (for partners actively connected to the BIC network) and an estimated 10,000 additional BIC codes which can be used for manual transactions.
See also
- Bank Identification Number (BIN)
- International Bank Account Number (IBAN)
- Value transfer system
- Bankleitzahl (BLZ)
External links
- [Bank Identifer Code] SWIFT.com home page
- [Official SWIFT search tool for bank names and Bank Identifier Codes]
- [Bank Identifer Codes and IBANs] An IBAN calculator that shows Bank Identifier Codes and Bankleitzahlen for German and Austrian bank accounts
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