What is SWIFT Code (BIC)?

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The **SWIFT Code**, also known as the **Business Identifier Code (BIC)**, is a standardized 8- or 11-character alphanumeric code used globally to identify a specific financial or non-financial institution in international transactions, ensuring the secure and accurate routing of cross-border payments and financial messages.

SWIFT Code (BIC)

What is SWIFT Code (BIC)?

What is the structure of a SWIFT Code (BIC) and how is it standardized for global financial identification?

How does the SWIFT Code facilitate cross-border payments and what role does the SWIFT gpi initiative play in modernizing the process?

How does the SWIFT Code (BIC) differ from the IBAN, and why are both often required for international money transfers?

What are the emerging alternatives to the SWIFT Code system, and how are they impacting the future of cross-border payments?

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