What Are BIC/SWIFT Codes and How Do They Work?
BIC codes and SWIFT codes are two types of international bank identification codes used by banks to identify locations in order to facilitate transactions such as sending money abroad or making domestic payments. BIC codes are used by banks in the United States, Canada, China, Japan, and many other countries. In contrast, SWIFT codes are used in over 40 countries across the world.
December 8, 2021