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What is a SWIFT address?

April 26, 2017address Swift

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What is a SWIFT address?

1 Answer

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10 Posted

The SWIFT address or BIC (Bank Identifier Code) is an 8 or 11 alphanumeric character sequence assigned by the Society for Worldwide Interbank Financial Telecommunication (S.W.I.F.T.) that uniquely identifies a financial institution and its location. The code, which may be obtained from the receiving bank, is used by banks to exchange data for funds transfer between financial institutions. It is necessary for all international wire transfers.