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Difference between BIC code and SWIFT code.

Difference between SWIFT code and BIC code.
Here is everything you need to know about SWIFT code and BIC code.

Answer to the Question is:

There is no difference between SWIFT code and BIC code. Both represent the same thing.

SWIFT Code, BIC Code, SWIFT BIC, SWIFT ID, BIC ID [all refers to the same code].


Why different name then?

SWIFT Society for Worldwide Inter-bank Financial Telecommunication
BIC Bank Identification Code

SWIFT is basically a society that assigns a unique code i.e. BIC code to a bank which is an identity of that bank in the foreign market/ world. Sometimes we refer this BIC code as SWIFT code.