If you have ever tried to send an international bank transfer, you have been asked for a SWIFT code — and maybe an IBAN too. These codes look intimidating, but they are simply the addressing system that makes sure your money reaches the right bank and the right account anywhere in the world. Here is what a SWIFT code and an IBAN are, how they differ, and when you actually need each one.
The short version
- A SWIFT/BIC code identifies the bank (8–11 characters).
- An IBAN identifies the specific account within that bank.
- For many international wires you need both.
- Many transfer apps use their own networks, so you may not need a SWIFT code at all.
What is a SWIFT code?
A SWIFT code — also called a BIC (Bank Identifier Code) — is an 8 to 11 character code that uniquely identifies a bank in the global payment system. When you send an international wire, the code tells the SWIFT network exactly which bank, and often which branch, should receive the money. A typical code looks something like BOFAUS3N: the first four letters are the bank, the next two the country, then the location and (optionally) the branch.
What is an IBAN?
An IBAN (International Bank Account Number) identifies the specific account the money should land in. It can be up to 34 characters and starts with a two-letter country code, followed by check digits and the account details. IBANs are used across Europe and in many other countries, though not everywhere — the US, for example, does not use IBANs.
SWIFT code vs IBAN: the difference
The simplest way to remember it: the SWIFT code is the bank’s address, and the IBAN is the specific mailbox. The SWIFT code gets the payment to the right building; the IBAN makes sure it goes into the right account inside. For a transfer to many countries — especially in Europe — you need both. For countries that do not use IBANs, you will provide the account number (and sometimes a routing or sort code) instead.
When you need each one
- Sending an international bank wire: you usually need the recipient’s SWIFT/BIC code, plus their IBAN or account number.
- Sending within Europe (SEPA): the IBAN is the key detail, and often a BIC too.
- Sending to the US: a SWIFT code and account number plus routing number — no IBAN.
- Using a transfer app: often just the account details or a mobile wallet — frequently no SWIFT code needed.
Where to find your SWIFT code and IBAN
Both are easy to find: check your bank statement, your online banking or app, or your bank’s website (which usually lists its SWIFT/BIC). Your IBAN is tied to your specific account, so it appears with your account details. If in doubt, ask your bank directly.
Do you always need a SWIFT code?
No — and this is where modern transfers get cheaper. Traditional wires rely on SWIFT, but apps like Wise and Remitly use their own local payment networks in each country. That often means you only need the recipient’s account number, sort code or mobile wallet, not a SWIFT code — and the transfer is usually faster and cheaper than a SWIFT wire.
Sending money abroad?
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How to send money internationallyFrequently asked questions
What is a SWIFT code?
An 8–11 character code (also called a BIC) that identifies a specific bank in international payments, telling the network which bank should receive the money. You usually need the recipient’s SWIFT/BIC to send an international wire.
What is the difference between a SWIFT code and an IBAN?
The SWIFT/BIC identifies the bank; the IBAN identifies the specific account within it. For many countries, especially in Europe, you need both.
Where do I find my SWIFT code and IBAN?
On your bank statement, in online banking or your app, or on your bank’s website. Your IBAN is shown with your account details.
Do I always need a SWIFT code to send money abroad?
No. Bank wires use SWIFT, but apps like Wise and Remitly often need only the account number or wallet details, and are usually faster and cheaper.
Is it safe to share my SWIFT code and IBAN?
Yes — they are needed to receive money and cannot be used to withdraw from your account. Share them only with people and businesses you trust.
Related: How long a SWIFT transfer takes · How to send money internationally · Wise vs Remitly