A SWIFT code (also known as BIC – Bank Identifier Code) is an international bank code used to identify banks worldwide in cross-border or international wire transfers.
It’s typically 8 or 11 characters long and helps ensure money is sent to the correct financial institution internationally.
🧩 Example:
SWIFT code: BOFAUS3NXXX
- BOFA → Bank of America
- US → Country (United States)
- 3N → Location
- XXX → Branch code (optional)
📍 Used for:
- International wire transfers
- Receiving money from abroad