What is a BIC / SWIFT code?

A BIC, or Bank Identifier Code, is an international routing code for a financial institution. It is often called a SWIFT code because it is used on the SWIFT messaging network for cross-border payments.

How BIC codes are structured

A BIC is usually 8 or 11 characters:

• Bank code: four letters identifying the bank, for example DEUT.
• Country code: two letters showing the country, for example DE.
• Location code: two letters or digits identifying the city or processing location.
• Branch code: optional final three characters for a specific branch.

An 8-character BIC usually identifies the main office. An 11-character BIC identifies a branch or processing unit. A suffix of XXX normally points back to the primary office.

BIC vs IBAN

An IBAN identifies a bank account. A BIC identifies the bank that routes the payment. In many SEPA payments the BIC can be derived from the IBAN, but international wires may still ask for both.

Why validate BICs?

BIC validation helps catch mistyped routing details before a payment is sent. Combined with IBAN validation and beneficiary checks, it gives finance teams a stronger pre-payment control.