What are BIC and SWIFT bank codes?
Just like everything in the modern world, making bank transfers, and especially international ones should be a simple and quick thing to do. However, instructing such a transaction can be still tricky and challenging with all the confusing information and data to be provided. So let’s look at one of the crucial parts of creating a cross-border transfer – the SWIFT/BIC code. We will discuss what is this mysterious number, why it is needed, and where to find it. What is a SWIFT code used for? To understand it better, a SWIFT number can be compared to a postal code.