Bank Identifer Code (BIC)

Issued by SWIFT

Website
http://www.fsa.gov.uk/pages/register/

Type
Issuer

Status
Public

Definition
The Bank Identifier Code (BIC also known as SWIFT-BIC, SWIFT ID or SWIFT code) is a standard format of Business Identifier Codes approved by the International Organization for Standardization (ISO). It is a unique identification code for both financial and non-financial institutions. When assigned to a non-financial institution, a code may also be known as a Business Entity Identifier or BEI. These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks.

Additional Information
This code unambiguously identifies a financial institution, or an entity within a financial institution. The ISO 9362 standard specifies the elements and the structure of a BIC. A BIC consists of either eight (BIC8) or 11 (BIC11) contiguous characters. These characters comprise either the first three, or all four, of the following components: bank code, country code, location code, and branch code. The International Organization for Standardization has designated SWIFT as the BIC registration authority.

Wikipedia Entry
http://en.wikipedia.org/wiki/ISO_9362

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