# 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.

- Canonical URL: https://swiftcodelookup.com/faq/
- Source: [Swift, The BIC: frequently asked questions](https://www.swift.com/swift-resource/252025/download)
- Checked: 2026-10-22

**What is a BIC?**
A Business Identifier Code under ISO 9362 that identifies an organisation. Swift is the registration authority ([Swift FAQ](https://www.swift.com/swift-resource/252025/download)).

**Is a SWIFT code the same as a BIC?**
In everyday use, yes. See the [checker](https://swiftcodelookup.com/).

**8 or 11 characters?**
Both are valid. See [8 or 11 characters](https://swiftcodelookup.com/8-or-11-character-bic/).

**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](https://swiftcodelookup.com/non-connected-bic/).

**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](https://swiftcodelookup.com/bic-iban-sepa/).

**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](https://swiftcodelookup.com/verification-of-payee/).

**How do I avoid scams?**
Read the [FTC advice](https://swiftcodelookup.com/wire-transfer-scams/) and [before you send money](https://swiftcodelookup.com/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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