What Is a BIC?
A BIC is the international code that identifies a bank and, where needed, its branch. This guide explains its structure, the 8/11 character difference and its use.
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Quick answer
A BIC is the 8- or 11-character international code that identifies a bank (and, where needed, its branch).
It consists of an institution, country, location and (in the 11-character form) branch code. It is sometimes also called the SWIFT code. It is usually not needed in SEPA; for SWIFT transactions it is usually mandatory.
The BIC, which stands for Bank Identifier Code, is a standard code that identifies a bank in international payments (ISO 9362). It is often also called the "SWIFT code". In this guide we explain what a BIC is, which parts it consists of, and how it is used.
The structure of a BIC
A BIC consists of 8 or 11 characters:
- Institution code (4 letters): Identifies the bank.
- Country code (2 letters): The ISO 3166 country code.
- Location code (2 alphanumeric): City/head-office information.
- Branch code (3 alphanumeric, optional): Present in the 11-character BIC; "XXX" or the absence of a code indicates the head office.
To decode the structure of a BIC (institution, country, location, branch), you can use the BIC/SWIFT lookup tool.
The 8 vs 11 character difference
An 8-character BIC refers to the bank's head office. It can be completed to 11 characters by adding "XXX" at the end. An 11-character BIC, on the other hand, indicates a specific branch (the last three characters are the branch code). So the 8- and 11-character forms are two different expressions of the same bank at head-office and branch level.
An important limit
A BIC being structurally valid does not guarantee that the bank or branch is active. This tool and guide address only structural validity; they make no claim to be a global bank database.
Summary
A BIC is the 8- or 11-character international code that identifies a bank and, where needed, its branch. It consists of an institution, country, location and branch code; it is often called the SWIFT code. It is usually not needed in SEPA, while for SWIFT it is usually mandatory. For the relationship between BIC and SWIFT, see the Are BIC and SWIFT the same page.
Frequently asked questions
What is a BIC?
The BIC (Bank Identifier Code) is the code that identifies a bank and, where needed, its branch at the international level. It is sometimes also called the SWIFT code. It consists of 8 or 11 characters.
Are the BIC and the SWIFT code the same?
In practice, yes; the BIC and the SWIFT code usually mean the same thing. BIC is the name of the standard, while SWIFT is the name of the network that manages these codes. For details, see the Are BIC and SWIFT the same page.
Is a BIC required for SEPA?
For most SEPA payments the IBAN alone is enough; a BIC is usually not needed. For SWIFT transactions a BIC is usually mandatory.
Sources
Confidence is graded from A (official document) to E (unverified).