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GOBankingRates on MSNUnderstanding SWIFT/BIC Codes and Their Role in International Transfers - MSNSWIFT 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.
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