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The previous edition is ISO 9362:2009 (dated 2009-10-01). The SWIFT code is 8 or 11 characters, made up of: 4 letters: institution code or bank code. 2 letters: ISO 3166-1 alpha-2 country code (exceptionally, SWIFT has assigned the code XK to Republic of Kosovo, which does not have an ISO 3166-1 country code) 2 letters or digits: location code
SWIFT or BIC codes are sometimes used with International Bank Account Numbers, or IBANs. An IBAN identifies a particular bank account. If a transfer uses IBANs, it’ll use both the sender’s and ...
SWIFT provides the main messaging network through which international payments are initiated. [2] It also sells software and services to financial institutions, mostly for use on its proprietary "SWIFTNet", and assigns ISO 9362 Business Identifier Codes (BICs), popularly known as "Swift codes".
See SWIFT Standards. Each financial institution is assigned an ISO 9362 code, also called a Bank Identifier Code (BIC) or SWIFT Code. These codes are generally eight characters long. [20] For example: Deutsche Bank is an international bank with its head office in Frankfurt, Germany, the SWIFT Code for which is DEUTDEFF: DEUT identifies Deutsche ...
Routing information as specified by ISO 9362 (also known as Business Identifier Codes (BIC), SWIFT ID or SWIFT code, and SWIFT-BIC) does not require a specific format for the transaction so the identification of accounts and transaction types is left to agreements of the transaction partners. It also does not contain check digits, so errors of ...
Also the name of bank codes varies. In some countries the bank codes can be viewed over the internet, but mostly in the local language. The (national) bank codes differ from the international Bank Identifier Code (BIC/ISO 9362, a normalized code - also known as Business Identifier Code, Bank International Code and SWIFT code).
Bank code discusses formats used by other countries and regions. Bank State Branch, or BSB code used for Australian banks; International Bank Account Number; ISO 9362, the SWIFT/BIC code standard; Magnetic ink character recognition – How RTN's are printed; Sort code, used by British banks; Canada has similar but different transaction routing ...
SWIFT messages consist of five blocks of data including three headers, message content, and a trailer. Message types are crucial to identifying content. All SWIFT messages include the literal "MT" (message type/text [2]). This is followed by a three-digit number that denotes the message category, group and type. Consider the following two examples.