BIC (Business Identifier Code)

Roles that need it

• Payments Messaging Specialist (SWIFT)
• Payments Operations Analyst
• Master Data Specialist
• Reference & Security Master Data Analyst

Skills it belongs to

• Payment systems and messaging (SWIFT, ISO 20022, SEPA, ACH, UPI)
• Master data management

Related concepts

• IBAN (International Bank Account Number)The IBAN is the international standard identifier of a bank account, defined in ISO 13616. It has up to 34 characters: a two-letter country code, two check digits and the national account number (BBAN), for example 22 characters in Germany and 27 in France. In SEPA the IBAN alone is enough to make a payment.
• Correspondent bankingCorrespondent banking is an arrangement in which one bank (the correspondent) holds deposits for another bank (the respondent) and makes and receives payments for it, usually in a currency or country where the respondent has no direct access. It underpins most cross-border payments and requires due diligence on the respondent.
• Swift (network)Swift is a cooperative, owned by its member institutions, that runs a secure messaging network for payment, securities and trade messages between banks and other institutions worldwide. Swift carries instructions only: it holds no accounts, and the money settles on the books of banks or in central bank systems. Members must meet its Customer Security Programme controls.

Sources

• BIC (Business Identifier Code), Swift (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.