SWIFT codes are available on The Swift Codes website, which lists the SWIFT codes for all the banks in the world that participate in the SWIFT network. There is also a searchable SWIFT codes database on Bank-Codes.com. Individuals may search by bank or branch name, address or postal code.Continue Reading
The SWIFT code is an eight- or 11-position code that is a unique identifier for a bank or branch, according to The Swift Codes. The first six positions of the SWIFT code are always letters, with the first four characters indicating the bank and the next two indicating the country. The seventh and eighth spaces communicate the location, while the last three characters are optional and relate to the branch code. Banks use these codes for communication purposes and for transferring money between banks, especially in international wire transfers.
In 2015, there are more than 40,000 active SWIFT codes for banks connected to the SWIFT network and 50,000 passive codes for manual transactions, states The Swift Codes. The Society for Worldwide Interbank Financial Telecommunication registers SWIFT codes.
In some areas of the world, banks use the International Bank Account Number system rather than the Swift codes network, notes The Swift Codes. Additionally, some countries use a domestic bank code for transfers inside their borders.Learn more about Personal Banking