Today in this blog post I will tell you what is Swift Code? And I am going to tell you in detail how to get the SWIFT code of your bank. If you are facing any kind of problem in getting the Swift code of your bank or you want to get information about it, then read this post carefully.
I will try my best to answer all your questions correctly and in detail. In today’s time, it has become very easy to transact money, yet sending or receiving money from other countries to your bank becomes a problem.
Because we need a Swift Code which is not available in every bank branch nor is it easily available but no need to worry, after reading this post all your problems will be solved.
Swift code is a very large messaging network which banks and financial institutions use to send money as international payment. This is a very safe, accurate and secure method.
So let us now step by step, what is Swift Code? And let’s know how to get it.
What is Swift Code? And how does it work?
This is a messaging network that banks and financial institutions use to send their secure payment information through a standardized system of code. It is very secure. Approximately 10,000 SWIFT members and approximately 24 million messages use this network every day.
SWIFT code is known by many names such as – ISO 9362, SWIFT-BIC, SWIFT ID etc. All these codes are standard formats of Business Identifier Codes which have been approved by the International Organization for Standardization (ISO).
This code is used by both financial and non-financial institutions. This code is used to send money. Mainly in the form of international wire transfers.
How many digits does Swift code have and how to identify it?
Swift code mainly consists of 8 to 11 characters.
Ex. – SSSSNB2NXXX
It is very easy to recognize it. Whichever bank’s Swift code you want to get, the first 4 letter codes of that bank are there. This is the shortened version of bank. Which are as follows -:
|BANK CODE||A-Z||4 Letter Code|
|COUNTRY CODE||A-Z||2 Letter Code|
|LOCATION CODE||0-9/ A-Z||2 Digit Code|
|BRANCH CODE (OPTIONAL)||0-9/ A-Z||3 Digit Code|
This is what Swift codes look like, now let us know how to find them.
How to know Swift code of any bank?
Now I am going to tell you how to find out the Swift Code of any of your banks. If you want to know about Swift Code, then follow the steps given below carefully. From which you can easily get Swift code from anywhere.
There are two ways to get Swift Code
- Through online website.
- Through your bank branch.
How to know Swift code online?
- First of all, go to Swift Code Finder ifscswiftcodes.com website. And click on Swift bottom. And choose your country. If you are from India then you can go directly by clicking on this link – Swift Code
- Now enter your Bank Name, State Name, City Name and Branch Name. As shown in the photo below.
- After filling all your information, your bank’s SWIFT code will start showing as shown in the photo.
Don’t worry if you can’t find Swift codes online through these methods . You can get Swift code by visiting your bank branch. You just have to go to your bank branch and ask for the bank’s SWIFT card from the bank employee, you will get it easily. Using which you can do international transactions.
What to do if Swift Code is not available in the bank branch?
If you do not get Swift code in your bank branch then do not worry, there are solutions for this also. Let me tell you that Swift codes are available in only about 1% of bank branches in the country. Therefore, it is available only in major branches of major cities. Therefore you do not need to worry.
You have to pay attention to the fact that when you choose your branch, you will see the names of some branches there, among them you have to see which bank branch is near your bank branch and whether that bank has swift code or not. If so then you can use Swift Code of that bank branch. You will not have any kind of problem in this.
Note – If there is any problem in getting Swift Code then contact the manager of your bank branch.
Where and who uses Swift code?
Let me tell you that the founder of Swift first designed this network so that treasury and its correspondent transactions could take place in it. Their messaging system turned out to be so strong that its use was increased.
Today Swift system is being used everywhere and its users are also increasing very fast. This code is used by these institutions.
- Foreign Exchange और Money Brokers
- Clearing Houses
- Brokerage Institutes
- Trading Houses
- Asset Management Companies
- Securities Dealers
- Corporate Business Houses etc.
Till now you have learned about what are Swift codes and how to know them, but do you know what is the history of Swift codes, what is their full form? So let us know.
FAQ: What is Swift Code?
What does Swift code mean?
Swift Code means the code given by the bank with which you do international transactions. Called Swift Code. Without these you can neither send nor take money to another country.
What is SBI Swift Code?
SBI Bank’s SWIFT code is SBININBBXXX. Whose branch is located in Mumbai.
How many digits is the Swift code?
Swift code mainly consists of 8 to 11 characters. Which includes BANK CODE, COUNTRY CODE, LOCATION CODE, and BRANCH CODE.