A SWIFT code is an 8 or 11-character identifier that tells the sending bank which bank to send your money to when you're transferring funds internationally

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It's a messaging system that banks use to communicate with each other across borders. When you send money to someone in another country, your bank uses the recipient's SWIFT code to route the payment to the correct bank, in the correct country, to the correct branch.

A SWIFT code is different from a routing number. A routing number identifies a specific bank branch within the United States. A SWIFT code identifies a bank anywhere in the world. If you're sending money domestically—from one U.S. bank account to another—you use a routing number. If you're sending money internationally, you need a SWIFT code.

SWIFT codes are also called BIC codes (Bank Identifier Code). The terms mean the same thing and are used interchangeably.

Key Takeaways

  • A SWIFT code is required for international wire transfers but not for domestic U.S. transfers, which use routing numbers instead.
  • SWIFT codes are 8 or 11 characters long and follow a standard format: four letters for the bank, two for the country, two for the location, and three optional characters for the branch.
  • You can find a bank's SWIFT code on their website, by calling the bank directly, or through online SWIFT code directories.
  • Providing an incorrect SWIFT code will cause the transfer to fail or be delayed, so verify the code with the recipient's bank before sending money.

How a SWIFT code is structured

Every SWIFT code follows the same 8 or 11-character pattern. The first four characters are letters representing the bank name. The next two characters are the country code (for example, US for United States, GB for United Kingdom, CA for Canada). The following two characters identify the city or region where the bank is located. The final three characters, which are optional, identify the specific branch.

Here's an example: DEUTDEFF is the SWIFT code for Deutsche Bank in Frankfurt, Germany. DEUT is the bank code, DE is Germany, FF is Frankfurt, and there is no branch code. If the same bank had a branch in Berlin, that branch might have a code like DEUTDEDB, where DB represents Berlin.

When you see an 8-character code, it refers to the bank's main office or headquarters. An 11-character code points to a specific branch. For most international transfers, either version works—your bank will route the payment correctly with either one.

When you need a SWIFT code versus a routing number

Use a SWIFT code when you're sending money from your U.S. bank account to a bank account outside the United States. You'll also need a SWIFT code if you're receiving money from abroad and the sender's bank asks for it.

Use a routing number when you're transferring money between two U.S. bank accounts, setting up direct deposit from your employer, or arranging automatic bill payments within the United States. Domestic transfers do not go through the SWIFT system.

Some international transfers also require an IBAN (International Bank Account Number) in addition to the SWIFT code. An IBAN is a longer code that includes the account number and is used primarily in Europe and some other regions. Your bank or the recipient's bank will tell you if an IBAN is needed.

How to find a SWIFT code

The easiest way to find a SWIFT code is to ask the recipient directly. If you're sending money to someone's bank account abroad, ask them for their bank's SWIFT code. They can find it on their bank statement, their bank's website, or by calling their bank.

You can also search for a SWIFT code using an online directory. Websites like swift.com (the official SWIFT registry) and other financial databases let you search by bank name and country. Enter the bank name and the country, and the directory will return the correct code.

Call the bank directly if you're unsure. The recipient's bank can confirm the correct SWIFT code for the specific branch. This is the safest approach if you're sending a large amount or if you want to be certain the code is correct before initiating the transfer.

What happens if you use the wrong SWIFT code

If you provide an incorrect SWIFT code, your bank will either reject the transfer before it's sent or the money will be routed to the wrong bank. In some cases, the receiving bank will reject the payment and send it back to your bank, which then returns it to you. This process can take one to three weeks.

In rare cases, money sent to the wrong bank account may not be returned automatically. If this happens, you'll need to contact your bank and file a trace request. Your bank can attempt to recover the funds, but recovery is not may provide and can take several weeks or longer.

To avoid this problem, verify the SWIFT code with the recipient or their bank before you send the money. Double-check the code character by character. A single wrong letter will cause the transfer to fail.

SWIFT codes versus other international transfer codes

Besides SWIFT codes, international transfers may involve IBANs, account numbers, and routing codes that vary by country. An IBAN is a standardized format used mainly in Europe, the Middle East, and parts of Asia. It includes the country code, bank code, and account number all in one string.

Some countries use their own domestic routing systems that work alongside SWIFT codes. For example, the United Kingdom uses sort codes, and Canada uses institution numbers. When you're sending money to a specific country, your bank will tell you which codes and numbers you need.

The safest approach is to ask the recipient's bank what information is required for an incoming transfer. Different banks may have slightly different requirements, and the recipient's bank is the authoritative source for what they need to receive your money.

Frequently Asked Questions

Can I use a SWIFT code to send money domestically within the United States?

No. Domestic U.S. transfers use routing numbers, not SWIFT codes. If you're sending money from one U.S. bank to another U.S. bank, provide the recipient's routing number and account number. SWIFT codes are only for international transfers.

Is a SWIFT code the same as an account number?

No. A SWIFT code identifies the bank. An account number identifies the specific account within that bank. For an international transfer, you need both: the SWIFT code so the money reaches the correct bank, and the account number so it reaches the correct account within that bank.

Do all banks have SWIFT codes?

Most banks that participate in international transfers have SWIFT codes. Very small banks or credit unions may not. If a bank doesn't have a SWIFT code, they may use a correspondent bank—a larger bank that handles international transfers on their behalf. Ask your bank or the recipient's bank if you're unsure.

How long does an international transfer take if I have the correct SWIFT code?

International transfers typically take one to five business days, depending on the banks involved and the countries. Having the correct SWIFT code helps may support the transfer is not delayed. Incorrect codes or missing information can add one to three weeks to the process.

Do I need both a SWIFT code and an IBAN?

It depends on the country and the recipient's bank. Many banks outside the United States require both. Some require only a SWIFT code. Ask the recipient's bank what information they need for an incoming transfer. Providing both when both are available reduces the chance of error.