What is a SWIFT Code?

Complete guide to SWIFT / BIC codes — structure, how international transfers work & where to find yours

What is a SWIFT Code?

A SWIFT code (also known as a BIC — Bank Identifier Code) is an 8 or 11-character alphanumeric code that uniquely identifies a bank or financial institution in the global SWIFT network. It is the international equivalent of an IFSC code — used to route money across borders accurately and securely.

SWIFT (Society for Worldwide Interbank Financial Telecommunication) connects over 11,000 financial institutions in 200+ countries. When you make an international wire transfer, your bank uses the recipient's SWIFT code to deliver the funds to the correct institution and branch worldwide.

Structure of a SWIFT / BIC Code

Bank Code (1–4)Country Code (5–6)Location Code (7–8)Branch Code (9–11)
SBIN IN BB XXX
State Bank of India India (ISO 3166) Mumbai head office Head office (XXX = default)
  • Characters 1–4 — Bank Code: 4-letter code identifying the bank (e.g. SBIN = SBI, HDFC = HDFC Bank)
  • Characters 5–6 — Country Code: ISO 3166-1 alpha-2 country code (e.g. IN = India, GB = UK, US = USA)
  • Characters 7–8 — Location Code: Identifies the city/head office location of the bank
  • Characters 9–11 — Branch Code (optional): Specific branch identifier; "XXX" means the primary/head office

When Do You Need a SWIFT Code?

  • Receiving money from abroad: Share your bank's SWIFT code with the sender so they can route the transfer to your bank.
  • Sending international wire transfers: Your bank will ask for the recipient bank's SWIFT code to process the transfer.
  • Foreign remittances: NRIs sending money to India need the receiving bank's SWIFT code.
  • Trade finance: Letters of credit, documentary collections and trade finance use SWIFT codes extensively.
  • Correspondent banking: Banks use SWIFT to communicate transaction instructions with overseas correspondent banks.

SWIFT Code vs IFSC Code

  • SWIFT/BIC: International — used for cross-border transfers between banks in different countries
  • IFSC: Domestic India — used for NEFT, RTGS and IMPS transfers within India
  • For receiving an international transfer to your Indian account, give the sender your bank's SWIFT code + your account number
  • For domestic transfers within India, use IFSC + account number
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Frequently Asked Questions

What is a SWIFT code?▼
A SWIFT code (also called BIC — Bank Identifier Code) is an 8 or 11-character code that uniquely identifies a bank or financial institution worldwide. It is used to route international wire transfers accurately across the SWIFT network.
What does SWIFT stand for?▼
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication — a secure global messaging network used by 11,000+ banks in 200+ countries to exchange financial instructions and transaction data.
How many characters does a SWIFT code have?▼
A SWIFT code is either 8 or 11 characters. The 8-character version identifies the bank and country. The 11-character version adds a 3-character branch code. When sending money, an 8-character SWIFT code routes to the bank's head office by default.
Is SWIFT code the same as IFSC code?▼
No. IFSC codes are used only for domestic electronic transfers within India (NEFT, RTGS, IMPS). SWIFT/BIC codes are used for international wire transfers between banks in different countries.
Do all Indian bank branches have a SWIFT code?▼
Not every branch has its own SWIFT code. Typically, only the main/head office or select designated branches of a bank have SWIFT codes. When you send an international transfer, it usually routes to the main branch first, which then credits your account.
Where can I find my bank's SWIFT code?▼
Check your bank's official website (usually under "International Transfers" or "Branch Locator"), your bank passbook, net banking portal, or contact your branch directly. For Indian banks, the SWIFT code is also listed on the RBI website.