SWIFT code is a standard code of 8-11 characters used by banks to transfer money overseas. While sending payment overseas this code helps you to identify the receiving (beneficiary) bank or financial institution.
- Below are a few tips on how to get a SWIFT code without troubling yourself much:
- Always use an active SWIFT/BIC code. For example, ANZ Australia’s SWIFT/BIC code is ANZBAU3M.
- The beneficiary’s bank will provide you the appropriate SWIFT/BIC code. This will enable the international money transfer to reach the overseas account.
- You may also look for SWIFT/Bank Identifier Codes on the SWIFT website.
- However the best way to get your bank’s SWIFT code is to contact your bank.
- Ask for the SWIFT code and bank account number where you will receive your incoming wire transfer.
- But if you are supposed to receive your local currency, you need not trouble yourself about incoming wire transfer.
- The SWIFT organization also offers a look up service.
- It is always recommended to contact your bank directly to ensure proper routing of your funds.