What is a swift code ?

A Swift Code is the number associated to a bank account number which provides a standard format for Business Identifier Codes (BIC). It is used to identify banks and financial institutions globally. It works like an international bank code or ID and the code is mostly listed in the international payment section of the bank, although, many banks do not have a swift code.

One can get the code in the bank’s statement or you can look into the swiftcodes dot com website. The code is used by many money brokers, clearing systems and non bank institutions. A bank sort code is used to find bank name from the sort code in UK & Ireland. It can be used to identify branch and payment schemes.