BIC (Bank Identifier Code)

A BIC, also known as a SWIFT code, is a unique identifier assigned to each bank or financial institution participating in the international payments network.

It ensures that money sent across borders is routed to the correct bank — often used alongside the IBAN to complete international payment details.

A BIC is typically 8 or 11 characters long, made up of:

4 letters – Bank code

2 letters – Country code

2 letters – Location code

(optional 3 letters) – Specific branch code

Example:

BARCGB22

BARC = Barclays Bank

GB = United Kingdom

22 = London branch

Used in:

International payments, SWIFT messaging, and global banking transactions.