Every international wire like that one runs on a SWIFT code, the 8 or 11 character address that tells banks where to send the money. It works the same way whether you bank in New York, London, Berlin, Sydney or Lahore. Get it wrong and the payment stalls or bounces. Get it right, and fees can still disappear unless you set who pays them first.
A SWIFT code, also called a BIC, is an 8 or 11 character code that identifies a bank in an international transfer. The first four letters name the bank, the next two the country, the next two the location, and the optional last three the branch. It identifies the bank, not your account, so senders also need your account details.
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What Is a SWIFT Code?
A SWIFT code is a bank’s international address, officially called a Business Identifier Code (BIC) under the ISO 9362 standard. It’s 8 or 11 characters long and tells the sending bank exactly which bank, and sometimes which branch, should receive a wire. SWIFT code and BIC mean the same thing. Banks use the two names interchangeably.
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication, a cooperative based in Belgium that started in 1973. It connects more than 11,500 institutions in over 200 countries and territories. Swift itself is clear on one point people often miss: it doesn’t move money. It carries the payment instructions. The money moves between the banks’ own accounts with each other.
How to Read a SWIFT Code
| Part | Characters | Example: BARCGB22XXX (Barclays) | What it means |
|---|---|---|---|
| Bank code | 4 letters | BARC | The bank, here Barclays |
| Country code | 2 letters | GB | United Kingdom |
| Location code | 2 letters or digits | 22 | The bank’s location, here London |
| Branch code | 3 characters, optional | XXX | The branch. XXX means the head office |
8 Characters vs 11 Characters
An 8-character code points to a bank’s main office. An 11-character code adds a branch. BARCGB22 and BARCGB22XXX lead to the same place, because XXX means “head office”. If a form asks for 11 characters and your bank gave you 8, adding XXX is the standard fix. If your bank gave you a specific branch code, use that one instead.
How to Find Your Bank’s SWIFT Code
The safest place to find your SWIFT code is your own bank: its international payments page, your online banking account details, or your branch. Free lookup sites list codes too, but they can be out of date. Some banks also use a different code for incoming foreign currency. Always confirm with the bank before you share it.
SWIFT Codes for Major Banks by Country
| Country | Bank | SWIFT code |
|---|---|---|
| United States | Chase (JPMorgan Chase) | CHASUS33 |
| United States | Bank of America | BOFAUS3N for US dollars, BOFAUS6S for foreign currency |
| United States | Wells Fargo | WFBIUS6S |
| United Kingdom | Barclays | BARCGB22 |
| United Kingdom | HSBC UK | HBUKGB4B |
| United Kingdom | Lloyds Bank | LOYDGB2L |
| Germany | Deutsche Bank | DEUTDEFF |
| France | BNP Paribas | BNPAFRPP |
| Netherlands | ING | INGBNL2A |
| Australia | Commonwealth Bank | CTBAAU2S |
| Australia | Westpac | WPACAU2S |
| Australia | ANZ | ANZBAU3M |
| Australia | NAB | NATAAU3303M |
| Pakistan | HBL (Habib Bank) | HABBPKKA |
| Pakistan | Meezan Bank | MEZNPKKA |
| Pakistan | UBL (United Bank) | UNILPKKA |
Bank of America shows why checking matters. It uses one code for US dollar wires and another for wires in foreign currency. Send euros to the dollar code and the payment can be delayed or converted at a rate you didn’t plan for. Danny’s UK bank has a similar split for its currency accounts.
What Else the Sender Needs in Each Country
- United States: SWIFT code, account number, and often the bank’s ABA routing number. The US doesn’t use IBANs.
- United Kingdom: SWIFT code and IBAN for payments from abroad. UK sort codes and account numbers are for domestic payments.
- Europe: SWIFT code and IBAN. For euro payments inside SEPA, the IBAN alone is usually enough.
- Australia: SWIFT code, BSB number, and account number. Australia doesn’t use IBANs.
- Pakistan: SWIFT code and the 24-character IBAN. The IBAN’s bank code matches the first four letters of the SWIFT code, such as HABB for HBL.
Our guide to what an IBAN is explains how IBANs are built in each country that uses them. Small US banks and credit unions may not have a SWIFT code at all. They route foreign wires through a larger correspondent bank and give you that bank’s code plus extra “for further credit to” instructions.
How to Check a SWIFT Code Is Real
- Check the length. It should be exactly 8 or 11 characters.
- Check characters 5 and 6. They must match the bank’s country, such as US, GB, DE, AU, or PK.
- Search it on Swift’s free BIC directory, linked from its BIC standard page.
- If a supplier suddenly sends a new SWIFT code or bank, call them on a number you already have before paying.
SWIFT Code vs IBAN, Routing Number, Sort Code and BSB
A SWIFT code identifies a bank anywhere in the world. An IBAN identifies one account in countries that use IBANs, such as the UK, Germany, or Pakistan. Routing numbers, sort codes, and BSB numbers identify banks for domestic payments in the US, UK, and Australia. International wires usually need the SWIFT code plus local account details.
| Code | Used in | Identifies | Format |
|---|---|---|---|
| SWIFT/BIC code | Worldwide | A bank or branch | 8 or 11 characters |
| IBAN | About 90 countries, including the UK, most of Europe, and Pakistan | One account | Up to 34 characters (22 in the UK and Germany, 24 in Pakistan) |
| ABA routing number | United States | A US bank | 9 digits |
| Sort code | United Kingdom | A UK bank branch | 6 digits, such as 20-00-00 |
| BSB number | Australia | An Australian bank branch | 6 digits, such as 062-000 |
Can You Receive Money With Just a SWIFT Code?
No. A SWIFT code gets the money to your bank, not to you. The sender also needs your IBAN or account number, plus a BSB in Australia or often a routing number in the US. They need your name exactly as the bank holds it, and usually your address. Without account details, the bank holds or returns the wire.
How a SWIFT Wire Moves From One Bank to Another
A SWIFT wire moves as a message from the sender’s bank to the recipient’s bank, often through one or more correspondent banks in between. Each bank in the chain holds accounts with the next one and settles the money through them. That chain is why a wire usually takes one to five business days and why fees can be deducted along the way.
- The sender’s bank checks the details and sends a payment message over Swift.
- If the two banks don’t hold accounts with each other, an intermediary or correspondent bank steps in. For US dollars that’s often in New York.
- Each bank in the chain screens the payment for sanctions and fraud, and may deduct a fee.
- The recipient’s bank receives it, converts the currency if needed, and credits the account.
Why SWIFT Transfers Take One to Five Days
Every bank in the chain has its own daily cut-off, and time zones can push a payment to the next day. A wire from Sydney to London crosses most of the world’s business hours. Weekends and public holidays in any country involved pause it. Compliance checks can hold it for documents. And a wrong code sends it to manual review.
What Changed With ISO 20022
In November 2025, Swift ended the coexistence period for cross-border payment messages and moved banks to the richer ISO 20022 format. The old MT103 message now has a successor called pacs.008, which carries more structured data about the sender and receiver. For you, the visible change is that banks may ask for fuller names and addresses, such as a separate town and country, before sending.
Why Your SWIFT Wire Arrived Short
A SWIFT wire usually arrives short because one or more banks in the chain deducted fees, or because the currency was converted at a marked-up rate. Who pays depends on the charge option the sender picked: OUR, SHA, or BEN. With the common SHA option, the recipient absorbs any intermediary bank fees.
| Charge option | Sender pays | Recipient pays | What arrives |
|---|---|---|---|
| OUR | Their bank’s fee and intermediary fees | Usually only their own bank’s receiving fee | Closest to the full amount |
| SHA (shared) | Their own bank’s fee | Intermediary fees and their own bank’s fee | Full amount minus intermediary and receiving fees |
| BEN (beneficiary) | Nothing | All fees in the chain | The lowest amount |
Where the Missing Money Goes
- Sender’s bank fee. Charged up front for sending the wire.
- Intermediary or correspondent fee. Taken out of the payment by a bank in the middle. Often the surprise.
- Receiving bank fee. Many UK, Australian, and Pakistani banks charge to credit an incoming wire.
- Exchange rate margin. If either bank converts the currency, it may use a rate worse than the mid-market rate. This is often the biggest cost and the least visible.
How to Get Paid in Full
Put a line on your invoice asking the client to choose OUR for charges, and say the amount must arrive in full. Invoice in the currency your account holds, so nobody converts twice. For regular payments, local account details or a SEPA transfer are usually cheaper than SWIFT. Danny’s Chicago client now sends with OUR, and the next invoice landed to the cent.
How to Track a SWIFT Transfer
To track a SWIFT transfer, ask the sender for the payment’s UETR, a 36-character reference that stays with the payment from the first bank to the last. Give it to your bank, and it can trace exactly where the money is. Most banks also give senders a payment confirmation, often still called an MT103, with the same details.
What Is SWIFT gpi?
Swift gpi, short for global payments innovation, launched in 2017 to add tracking and fee transparency to cross-border payments. Since 2018, Swift payment messages must carry a UETR. Swift figures reported by the payments firm Skydo say nearly 60% of gpi payments are credited within 30 minutes. Almost all arrive within 24 hours. The gpi tracker is a bank tool, so you track through your bank, not a public website.
What to Ask For When a Wire Is Late
- The UETR, or the MT103 or payment confirmation from the sender’s bank.
- The exact amount, currency, and date sent.
- The SWIFT code and account details the sender actually used. Wrong details are the most common cause.
- Any intermediary bank listed on the confirmation.
Cheaper Alternatives to a SWIFT Wire
For regular client payments, a SWIFT wire is often the slowest and most expensive route. Local rails such as ACH in the US, Faster Payments in the UK, SEPA in Europe, and the NPP in Australia are cheaper and more predictable. Multi-currency providers give you local account details in those countries, so clients pay you as a domestic transfer.
| Route | Best for | Trade-off |
|---|---|---|
| SEPA transfer to a euro IBAN | Clients paying in euros from Europe | You need a euro account. See the Single Euro Payments Area |
| Local receiving details (Wise, Payoneer) | Freelancers paid by clients in the US, UK, Europe, and Australia | Conversion and withdrawal fees apply. Check availability in your country |
| Stripe payouts | Card and online payments from customers | Pays out locally in supported countries. Not directly available in Pakistan, see Stripe withdrawal to a Pakistani bank |
| SWIFT wire with OUR charges | Large, one-off payments | Higher sender fee, but the full amount usually arrives |
If you already use Payoneer, check whether you can transfer Stripe to Payoneer before planning withdrawals. Remote freelancers should also keep our remote developer tax and banking checklist handy. US consumers sending money abroad have extra protection under the CFPB’s remittance rules. You see the fees and exchange rate upfront, get 30 minutes to cancel for free, and have 180 days to report an error.
Frequently Asked Questions
Quick answers to the SWIFT code questions that come up most often.
Is a SWIFT code the same as a BIC?
Yes. BIC, or Business Identifier Code, is the official name under the ISO 9362 standard, and SWIFT code is the everyday name because Swift issues and registers them. A form that asks for a “SWIFT code”, a “BIC”, or a “SWIFT/BIC” wants the same 8 or 11 characters. Use exactly what your bank gives you for incoming international payments.
What does XXX mean at the end of a SWIFT code?
XXX means the bank’s head office, or primary office. It fills the optional three-character branch slot when a payment doesn’t need to go to a specific branch. BARCGB22 and BARCGB22XXX point to the same place. If a form demands 11 characters and you only have 8, add XXX. If your bank gave you a branch code, use that instead.
Is the SWIFT code the same for all branches?
Often, but not always. Many banks in the US, UK, and Australia use one head office code for all incoming international payments. Others give some branches, currencies, or services their own codes, as Bank of America does for foreign currency. That’s why the safest source is your bank’s own instructions. A lookup site may be right for the bank but wrong for your account.
Do the US and Australia use IBANs?
No. Neither the US nor Australia uses IBANs. A wire to a US account needs the SWIFT code, account number, and often the ABA routing number. A wire to Australia needs the SWIFT code, BSB number, and account number. The UK, most of Europe, and Pakistan do use IBANs, so senders there need the IBAN plus the SWIFT code.
What is the SWIFT code for HBL, Meezan, or UBL?
The head office codes listed by Xe are HABBPKKA for HBL, MEZNPKKA for Meezan Bank, and UNILPKKA for UBL, often written with XXX on the end. All three point to their main offices in Karachi. Banks may use other codes for some branches or services. Confirm with your branch or banking app before you send the code to a client.
How long does a SWIFT transfer take?
Usually one to five business days. Payments tracked through Swift gpi are often much faster, and Swift reports that most reach the recipient within a day. Delays come from intermediary banks, time zones, cut-off times, weekends and holidays, compliance checks, and wrong details. If a wire is late, ask the sender for the UETR and give it to your bank.
How much does a SWIFT transfer cost?
It varies by bank and route. Expect a sending fee from the sender’s bank and possibly intermediary fees taken from the amount. Some banks add a receiving fee, and a conversion adds an exchange rate margin. The charge option, OUR, SHA, or BEN, decides who pays what. In the US, the provider must disclose its fees and rate to consumers before they pay.
Is it safe to share my SWIFT code?
Yes. A SWIFT code belongs to your bank, not to you, and it’s published openly so people can pay the bank’s customers. Sharing it carries no real risk on its own. Be more careful with your full account details and never share online banking passwords or one-time codes. The bigger risk is the reverse: paying a fake SWIFT code sent in a spoofed email.
Do I need a SWIFT code for a domestic transfer?
No. Domestic payments use local systems. The US uses a routing number with ACH or a domestic wire. The UK uses a sort code and account number through Faster Payments. Australia uses a BSB or PayID. A euro SEPA transfer needs only the IBAN, and Pakistan uses the IBAN through interbank transfer or Raast.
What happens if I use the wrong SWIFT code?
If the code doesn’t exist, the sender’s bank usually rejects it before sending. If it’s a real code for the wrong bank, the payment may reach that bank and fail to match an account. It then comes back days later, often minus fees. Contact the sending bank as soon as you notice and ask it to amend or recall the payment using its reference.
Give the Right SWIFT Code and Set the Charges
That $35 gap on Danny’s Chicago invoice wasn’t a lost payment. It was a correspondent fee and a receiving fee, both allowed under the SHA option the client’s bank picked by default. Once Danny added a line asking for OUR charges and confirmed his SWIFT code with his bank, the next wire arrived in full.
That’s the practical side of what a SWIFT code is. It’s your bank’s international address, and it gets the money to the right building. Your IBAN, account number, BSB, or routing number gets it to the right desk. The charge option decides how much of it survives the trip. Put all three on every invoice you send abroad, and keep the UETR if a payment is late. If your clients pay in euros, a euro IBAN can skip the correspondent chain entirely. Which of your clients is still paying you with SHA without knowing it?
