What Is a SWIFT Code? Format, Examples, and How to Find It

Key takeaways

• Recognize a SWIFT code as your bank’s global ID, used to route international payments and secure messages between institutions.
• Read a SWIFT code by its parts, a four-letter bank code, a two-letter country code, a two-character location code, and an optional three-character branch code.
• Share a SWIFT code without worry, since it only identifies a bank and cannot be used to access an account.
• Ask your vendor for their SWIFT code and account number before sending an international payment.

So, what is SWIFT?

SWIFT is a global messaging system that lets banks and financial institutions communicate securely across borders. It stands for the Society for Worldwide Interbank Financial Telecommunication—a mouthful, which is why everyone uses the acronym.

What are SWIFT codes, then?

A SWIFT code is a unique ID for a bank or financial institution, also known as a bank identifier code (BIC). It lets member institutions safely communicate, share information, and transfer money across borders.

You can think of a SWIFT code as a bank’s ID number, allowing all parties to know they are in touch with the right institution and, therefore, can communicate freely and safely.

What does a SWIFT code look like?

A SWIFT code is composed of 8 or 11 digits or letters and contains the following components:

• Bank code: A four-letter abbreviation of the financial institution’s name.
• Country code: Two letters indicating the country in which the financial institution is located.
• Location code: Two alphanumeric characters identifying the city in which the financial institution’s head office is located.
• Branch code: This component is optional and includes three characters identifying a particular branch of the financial institution.

Here’s a real example. A JP Morgan Chase SWIFT code looks like this: CHASUS33XXX, where the Xs represent optional branch information.

How are SWIFT codes different from IBANs?

IBAN is primarily used in Europe, while SWIFT is used in the U.S., Mexico, and Canada, among other locations.

Unlike IBANs, SWIFT codes are used for more than just transferring funds, as they facilitate various types of secure communications between member organizations.

Also, while IBANs always refer to a specific account, SWIFT codes are used to identify an institution or branch. Therefore, you’ll also need to provide an account number separately to send an international payment via SWIFT.

So, are SWIFT codes the same as routing numbers?

No. A routing number handles domestic bank transfers within the U.S. A SWIFT code identifies a bank for international transfers and interbank messaging worldwide.

How do I know if I need a SWIFT code to send an international payment?

The SWIFT network connects over 11,500 institutions across more than 200 countries and territories, so it’s very likely your vendor’s bank has one.

In addition to the U.S., among the countries that require a SWIFT code for incoming international transfers are:

• Japan
• Denmark
• Latvia
• Ghana
• Sweden
• The United Arab Emirates

While several dozen countries use the IBAN system for international transfers, SWIFT is often used alongside it, so most bank accounts in Europe have both a SWIFT code and an IBAN. In some cases, both numbers are required for an international wire.

But, there’s no need for guesswork. If you send an international payment through Melio, you’ll be prompted to provide the relevant information according to the payment’s destination country.

Should my vendor worry about sharing their SWIFT code?

No. SWIFT codes are publicly available online and through each bank and are not considered confidential. They don’t refer to a specific account and cannot be used to access funds, only to allow banks to communicate among themselves.

How do I find my vendor’s SWIFT code?

The easiest way is to ask your vendor. If they aren’t sure, they can find it on a bank statement, in their online account, or by contacting their bank. Remember, you’ll also need their account number to send a SWIFT payment.

If your vendor didn’t provide you with a SWIFT code, you can use an online service to find the missing information, assuming you have the rest of their bank details.

Ready to send an international payment?

Now that you’ve learned about SWIFT codes, you can start paying your international vendors online. Simply sign up to Melio for a straightforward, cost-effective, and fast solution to all your business payment needs.

SWIFT code FAQs