When speaking about SWIFT and BIC codes, one may feel confused, therefore we offer a simple and straightforward definition.
SWIFT is the shortened name of the electronic messaging system, while BIC (‘Bank Identifier Code’) is the code that is used for that system. Both these terms are sometimes used to describe the code and sometimes the system as well, meaning that when a SWIFT or BIC code is requested, it will always be the same 8-11 digit number.
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What is a SWIFT/ Business Identifier Code (BIC)?
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