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What is a SWIFT/BIC code?

Here's all you need to know about SWIFT/BIC codes

Mojisola Aimasiko avatar
Written by Mojisola Aimasiko
Updated over a week ago

A SWIFT code, also called a SWIFT number, is a unique identification code used to identify banks, financial institutions, and non-financial institutions worldwide. It stands for the Bank/Financial Institution Identifier Code (BIC). Business Identifier Code (BIC) and SWIFT code are often used interchangeably.

A SWIFT/BIC code consists of 8–11 characters and follows a format that identifies your bank, country, location, and branch.

  • The first four letters represent the bank and usually look like an abbreviated version of the bank name.

  • The following two letters indicate the country where the bank is located.

  • The following two characters designate the location of the bank's main office.

  • The last three digits identify a specific branch. ‘XXX’ is used for a bank's head office.

How do I find the SWIFT/BIC code for my bank?

You can find your bank's SWIFT code by looking it up on its website. For your foreign accounts on Grey, you can get the SWIFT/BIC code on your account details dashboard once you have requested and obtained your account.

The UK/EU accounts provided include a SWIFT code but do not support SWIFT transfers.

The US account provided does not include a SWIFT code, as international transfers are not supported.

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