What Is a SWIFT Code?
A SWIFT code identifies a bank internationally, the way a routing number identifies one inside the United States. If money is crossing a border, this is the code that gets asked for.
Its proper name is a BIC — Business Identifier Code — defined by ISO 9362. Everyone calls it a SWIFT code, after the network that administers it.
What the characters mean
A BIC is either eight or eleven characters, and it is not random. Taking Bank of America's as an example — BOFAUS3N:
| Part | Length | Example | Meaning |
| Bank code | 4 letters | BOFA | The institution |
| Country code | 2 letters | US | ISO country |
| Location code | 2 characters | 3N | City or region of the head office |
| Branch code | 3 characters, optional | — | A specific branch |
Eight characters means the head office. Eleven means a named branch. If you have only the eight, use it — the head office will route the payment onward internally. Some banks publish a code ending in XXX, which means the same thing as leaving the branch code off.
Not a routing number
These get confused constantly, and using one where the other is wanted will bounce the transfer.
| Routing number | SWIFT / BIC | |
| Format | 9 digits | 8 or 11 letters and digits |
| Scope | United States only | International |
| Used for | ACH, direct deposit, domestic wires, checks | Cross-border wires |
| Who assigns it | American Bankers Association | SWIFT, under ISO 9362 |
| On your check? | Yes, bottom left | No, never |
A useful rule: if the money never leaves the United States, you do not need a SWIFT code. If it crosses a border in either direction, you do.
Finding yours
A SWIFT code belongs to the bank, not to your account, so it is not private and not printed on your statement.
- Your bank's website, usually under international transfers or wire instructions. This is the authoritative source.
- Your banking app, though many hide it until you start an international transfer.
- Ask the bank directly. Large banks often have separate codes for different currencies, and the correspondent bank may need naming too.
Get it from the bank, not from a lookup site. A wrong SWIFT code sends money to the wrong institution, and recovering an international wire is slow and expensive.
Receiving money from abroad
Whoever is sending will normally need four things:
- Your bank's SWIFT/BIC code
- Your full account number
- Your name exactly as the bank holds it
- Your bank's name and address
Some senders will also ask for an IBAN. US banks do not have them — the IBAN system covers Europe and parts of the Middle East and Asia. If a form insists on one, the correct answer is that the United States does not use IBANs, and the account number plus SWIFT code is what they need.
Expect fees on both ends, plus an exchange-rate margin that is usually larger than the stated fee. Intermediary banks may also deduct along the way, which is why the amount arriving can be less than the amount sent.
Related
For domestic transfers, see where the routing number is.
Common questions
What is a SWIFT code?
An eight or eleven character code that identifies a specific bank internationally. Its formal name is a BIC, or Business Identifier Code, defined by the ISO 9362 standard.
Is a SWIFT code the same as a routing number?
No. A routing number is a nine-digit domestic US code used for ACH and Fedwire. A SWIFT code is alphanumeric and used for international transfers. They are not interchangeable.
What is the difference between 8 and 11 characters?
An eight-character code identifies the bank’s head office. Eleven characters adds a three-character branch identifier. If you only have eight, that is usually fine — the head office routes it onward.
Do I need a SWIFT code to receive money from abroad?
Yes, along with your account number and usually your bank’s address. Some countries will also ask for an IBAN, which US banks do not have.
Do US banks have IBANs?
No. The IBAN system is used in Europe and parts of the Middle East and Asia. A US bank supplies a SWIFT code and an account number instead.
Figures and rules in this article are checked against the official sources below. Where they disagree with us, they win.
