A SWIFT code, also known as a SWIFT number or a Bank Identifier Code (BIC), is an 8 to 11-character code that identifies banks and financial institutions worldwide. These codes facilitate money transfers between banks and are needed for international wires and SEPA payments. A SWIFT/BIC code consists of 8-11 characters and follows a format that identifies your bank, country, location, and branch. The format is as follows:

1. Bank code (4 letters): The first four letters represent the bank and usually look like an abbreviated version of the bank name.
2. Country code (2 letters): These two letters indicate the country where the bank is located.
3. Location code (2 letters or numbers): These two characters designate the location of the bank’s main office.
4. Branch code (3 digits): This is an optional code that specifies the receiving branch.

Each bank has a unique SWIFT code, and some banks use the same SWIFT code for all their branches while other banks designate a unique SWIFT code for each branch. To find your banks SWIFT code, you can search online with the bank’s name and the keyword “SWIFT code,” verifying that any information is coming from a reliable source. It is important to use the correct SWIFT code when transferring money to avoid transfer delays or errors.