BIC and SWIFT code questions and answers
Short answers on what a BIC is, 8 or 11 characters, connected and non-connected codes, IBAN, SEPA and safety, with sources from Swift, the EPC and the FTC.
Official source: Swift, The BIC: frequently asked questions. Checked
What is a BIC? A Business Identifier Code under ISO 9362 that identifies an organisation. Swift is the registration authority (Swift FAQ).
Is a SWIFT code the same as a BIC? In everyday use, yes. See the checker.
8 or 11 characters? Both are valid. See 8 or 11 characters.
Does a BIC identify an account? No. It identifies an organisation; one organisation can hold several BICs. The account is identified by the IBAN or national account number.
Can a BIC be bought or sold? Swift's FAQ says BICs cannot be bought, sold or transferred, and that assignment is free.
Does a BIC prove a company is legitimate? No. The FAQ says it does not provide any representation or guarantee about the organisation's activities, so do your own checks.
Does being "connected" mean something? A connected BIC belongs to an institution that meets Swift's criteria and can send and receive messages on the network. A non-connected BIC is used for identification. See non-connected BICs.
What happens to the BIC of a company that closes? The FAQ says it is marked expired but still exists as an identifier, and third parties may still need to use it.
Do I need a BIC for a euro transfer? The EPC says IBAN is sufficient for euro SEPA credit transfers since February 2016. See IBAN only.
Is there a name check? Euro-area providers must offer verification of payee since 9 October 2025. You see match, close match or no match, and after a warning you can still choose to pay. See verification of payee.
How do I avoid scams? Read the FTC advice and before you send money.
Can this site find a bank's code? No. It checks shapes and explains. For a code, use your bank's own details.
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