SWIFT or BIC codes are sometimes used with International Bank Account Numbers, or IBANs. An IBAN identifies a particular bank ...

Is a BIC/SWIFT code always needed? If you want to send money abroad, you will need the recipient's BIC code. Likewise, if you are receiving a payment from overseas, the sender will need your BIC code.

Do you need an IBAN, a SWIFT code or both for your international funds transfer? Learn how they work together, as well as the differences between them.