What Is a Bank Code?

The bank international code (SWIFT Code) is a bank identification code proposed by the SWIFT Association and approved by ISO. All member banks of the Association have their own specific SWIFT codes. During the wire transfer, the remittance bank sends the payment in accordance with the SWIFT CODE of the receiving bank. Message, you can remit the money to the receiving bank. This number is equivalent to the ID number of each bank. Its original name was BIC (Bank Identifier Code), but the name BIC is too general. I am afraid that someone understands it as another bank identification code system, so everyone has come to call BIC SWIFT Code. SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a private joint-stock company jointly owned by financial institutions. It is registered in accordance with Belgian law and is managed by member banks and other financial institutions.

Bank International Code

Right!

The bank international code (SWIFT Code) is a bank identification code proposed by the SWIFT Association and approved by ISO. All member banks of the Association have their own specific SWIFT codes. During the wire transfer, the remittance bank sends the payment in accordance with the SWIFT CODE of the receiving bank. Message, you can remit the money to the receiving bank. This number is equivalent to the ID number of each bank. Its original name was BIC (Bank Identifier Code), but the name BIC is too general. I am afraid that someone understands it as another bank identification code system, so everyone has come to call BIC SWIFT Code. SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a private joint-stock company jointly owned by financial institutions. It is registered in accordance with Belgian law and is managed by member banks and other financial institutions.

The bank international code (SWIFT Code) is generally used for power generation remittances, letters of credit and telegrams, and each bank has them to quickly process interbank telegram transactions. Large banks such as Industrial and Commercial Bank and Agricultural Bank of China also assign Swift codes with different suffixes to their internal branches.

In this case, if your bank is a well-known bank, such as Bank of China, the other bank can find the corresponding code by consulting the Swift code table. Of course, your beneficiary bank can provide this code to reduce the chance of errors.

Chinese name

Bank International Code

Foreign name

SWIFT Code

Presenter

SWIFT Association

Former name

BIC

Each bank applying to join the SWIFT organization must first formulate the SWIFT address code of the bank in accordance with the unified principles of the SWIFT organization, which will take effect after approval by the SWIFT organization. The Bank Identifier Code (BIC) consists of eight or eleven English letters or Arabic numerals that can be automatically interpreted by a computer. It is used to clearly distinguish different financial institutions involved in financial transactions in SWIFT messages. All member banks of the association have their own specific SWIFT code, namely SWIFT Code. During the wire transfer, the sending bank can send the payment message in accordance with the SWIFT Code of the receiving bank, and the money can be remitted to the receiving bank. This number is equivalent to the ID number of each bank. The eleven-digit BIC can be split into four parts: bank code, country code, area code, and branch code. Take Bank of China Shanghai branch as an example ^[1]

To query the SWIFT Code of a bank, the recommended method is:

(1) Go directly to the bank to ask the staff.

(2) You can call for consultation.

(3) Query through SWIFT's official website:

Precise search. After entering the website, if you know the bank's SWIFT code (BIC Code) or Institution Keyword, you can do a quick lookup of its information; for example: Bank of China's keyword is Bank of China. You can check the SWIFT Codes of Bank of China branches around the world, including codes from all parts of the mainland. It can be seen from the search results that the first 8 digits of the mainland branch are all BKCHCNBJ. You can directly enter these 8 digits under the BIC search to list the SWIFT Codes of branches of domestic banks in China.

If you are not sure, then you can enter another query page for detailed search, and click on the location below to enter.

1. SWIFT requires membership. Most professional banks in our country are members.

2. The cost of SWIFT is low and high speed. For the same amount of content, the cost of SWIFT is only about 18% of TELEX (telegraph) and only 2.5% of CABLE (telegraph).

3.SWIFT has higher security. SWIFT's escrow is more reliable, confidential and more automated than telex's escrow.

4. The format of SWIFT is standardized. For SWIFT messages, SWIFT organizations have uniform requirements and formats.

There are three types of users: members (shareholders), sub-members, and ordinary users. Members can enjoy all SWIFT services; ordinary users only enjoy services related to their business, mainly from the securities industry, such as securities intermediaries, investment management companies, fund management companies, etc.

Bank of China: BKCHCNBJ	Industrial and Commercial Bank of China: ICBKCNBJ	China Construction Bank: PCBCCNBJ
Agricultural Bank: ABOCCNBJ	China Merchants Bank: CMBCCNBS	Bank of Communications: COMMCN
China CITIC Bank: CIBKCNBJ	Industrial Bank: FJIBCNBA	Minsheng Bank: MSBCCNBJ
Hua Xia Bank: HXBKCN	SPDB: SPDBCNSH	HSBC Bank: HSBCCNSH
Standard Chartered Bank: SCBLCNSX	Citibank: CITICNSX	Deutsche Bank: DEUTCNSH
Swiss bank: UBSWCNBJ	ABN AMBS: ABNACNSH	HSBC Hong Kong: BLICHKHK
Hong Kong Citi: CITIHK	The Bank of East Asia: BEASCCNSH	Hang Seng Bank: HASECNSHBEJ

Note: The Arabic numerals of the branches need to be added uniformly after the code.