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What is a SWIFT BIC?

April 26, 2017BIC Swift

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What is a SWIFT BIC?

1 Answer

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10 Posted

SWIFT refers to Society For Worldwide Interbank Financial Telecommunication. SWIFT BIC is a Bank Identifier Code (8 or 11 alphanumeric characters) used in the interbank telecommunication to ensure remittance message can reach the correct beneficiary bank. For example, HASEHKHHXXX represents Hang Seng Bank Limited (Hong Kong) while HASECNSHHSH represents Hang Seng Bank (China) Limited, Shanghai Branch.