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What is BIC Code or SWIFT code.

Detailed information of SWIFT code and BIC code.
Here is everything you need to know about SWIFT code and BIC code.

This is how SWIFT/ BIC code is constructed.

Characters Meaning Assigned by
First 4 [1-4] (Required) Bank Code Issued by SWIFT
Next 2 [5-6] (Required) Country Code ISO Country Code standard
Next 2 [7-8] (Required) Location Code Issued by SWIFT in consultation with country
Next 3 [9-11] (Optional) Branch Code Decided by the individual Bank

SWIFT ( Society for Worldwide Inter-bank Financial Telecommunication ) is basically a society that assigns a unique code i.e. BIC ( Bank Identification Code ) 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.