A Bank Identifier Code (BIC) is an international standard for Business Identifier Codes, a unique identifier for business institutions, approved by the International Organization for Standardization (ISO) . BIC is also known as SWIFT-BIC, SWIFT ID, or SWIFT code, after the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is designated by ISO as the BIC registration authority. BIC was originally defined as Bank Identifier Code and is most often assigned to financial organizations; when it is assigned to non-financial organizations, the code may also be known as Business Entity Identifier (BEI) .

A BIC code is an 8 to 11-character code that is used to identify a specific bank when you make an international transaction. It is almost like a postcode for your bank, ensuring that your money goes to the right place. BIC codes are used to send money between banks to ensure money is directed to the right place. All BIC and SWIFT codes follow the same format. They are between 8 and 11 characters long and they are arranged as follows: AAAABBCCDD. AAAA is a 4-character bank code that looks like a shortened version of the bank’s name, BB is a 2-character country code telling you which country the bank is in, CC is a 2-character location code telling you where the bank’s head office is located, and DDD is a 3-character branch code (optional) telling you where the specific branch is located.

BIC codes are used to ensure that your payment goes to the right bank when banks send international payments, they rely on a network of correspondent banks. These correspondent banks work together to move your money from one place to another, before it finally reaches your recipient. If you’re making an international payment and need to find the BIC number of the recipient, you can simply use a BIC/SWIFT finder – such as an online tool from Bank.Codes – that allows you to search for the codes of particular branches or validate SWIFT numbers for extra security.