SWIFT Code (Society for Worldwide Interbank Financial Telecommunications) is unique code (alpha-numeric) used to make international transactions.
SWIFT Code helps to exchange information between two banks to make the process of sending money faster and more efficient than before. So, SWIFT Code is used as Bank ID. It’s also called as Bank Identifier Code (BIC). At Topremit, you’ll need to attach this code only if you want to make transactions to European countries.
Example of SWIFT Code:
AAAA BB CC DDD
First 4 characters - bank code (only letters)
Next 2 characters - 2 country code (only letters)
Next 2 characters - location code, passive participant will have "1" in the second character (letters and digits)
Last 3 characters - branch code, optional - 'XXX' for primary office (letters and digits)
To check the validity of SWIFT code, please click here