A Swift Code is Worldwide Bank ID.
A SWIFT number is an alphanumeric number containing information that identifies a bank and branch. Depending on which bank office it refers to. It can be 8 (eight) or 11 (eleven) characters long.
What does a SWIFT code look like?
A Swift code looks like:
which is Swift Code for a CITIBANK N.A. in MIAMI, Florida.
Consisting of 8, sometimes 11 characters, the SWIFT Code makes it easy to transfer money from one bank to another. If it only includes 8 characters, it indicates that the bank is the main bank (not a branch).
The format is as follows:
WWWW XX YY ZZZ
(WWWW) are bank codes that only use letters.
(XX) are the country codes and also use only the letters.
(YY) are the location codes. May use letters or numbers.
(ZZZ) are the branch codes of the banks. This branch code can use numbers or letters.
We can simplify:
- The first four-letter is bank code.
- The second two-letter is country code.
- The third two-letter is location code.
- The last three-digit is branch code.
SWIFT is short for the Society for Worldwide Interbank Financial Telecommunication.