A SWIFT or BIC code has eight to 11 characters in it. The first four letters are the bank’s code, the country code is the next two letters, the location code is two next letters or numbers ...

An IBAN is used to identify an individual bank account involved in an international transaction while a SWIFT code is used to identify a specific bank during an international transaction.

There are two such standardized methods: the International Bank Account Number (IBAN) and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) code. It’s important to ...