Technical Terms

In the "Knowledge" section, we have compiled a glossary for you on the topics of risk and receivables management, e-commerce, payment and payment protection.

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    Swift code

Swift code

The Swift code (Society for Worldwide Interbank Financial Telecommunication), also called BIC, consists of 11 characters and can be used world-wide. The purpose of the SWIFT code is to uniquely identify a bank. The SWIFT code is formatted as follows: 4-digit bank code, 2-digit country code, 2-digit encoding of the location, and a 3-digit code for the branch. However, the SWIFT code should not be confused with the IBAN (International Bank Account Number), since the IBAN is used as a unique, standardized, international identifier for bank account numbers.

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