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What is swift code? I don't like these banking term...

by kingprosperity
10 replies
I know its a simple question. But actually I am going for wire transfer. They said me to provide them swift code. when I asked from bank then they said that swift code and account no. is a same thing? is it right ?

Swift code and bank account no. is same?

and if its different then how? can you please give me some examples.
#banking #code #swift #term
  • Profile picture of the author markbyrne
    If you take a look on your bank statement the IBAN and Swift code are usually at the top under your account number.

    The SWIFT or BIC number is the bank ID code. Call your bank, they can give you this info instantly.
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  • Profile picture of the author Kim Standerline
    No they definitely are not the same thing. Unfortunately I came across the same problem a couple of years ago with my bank with the bank staff not having a clue about what I was talking about.

    Give them another ring, hopefully you'll get someone who actually knows what they are talking about, (It's what I did)

    Kim

    Originally Posted by kingprosperity View Post

    I know its a simple question. But actually I am going for wire transfer. They said me to provide them swift code. when I asked from bank then they said that swift code and account no. is a same thing? is it right ?

    Swift code and bank account no. is same?

    and if its different then how? can you please give me some examples.
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  • Profile picture of the author brettb
    Yeah, this stuff will be on your bank statement header.
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  • Profile picture of the author Bill_Z
    Swift code and account number are not the same. Swift code is like the routing number used for american banks. What country are you in?
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  • Profile picture of the author ngash
    Banned
    They are not the same.

    Swift code is used to ruote money to your bank. In the swift code you list your details in the beneficiary section (depending on you bank), and that is what get money into your personal account. Your bank should give you the format it uses.

    In can be confusing I now. I have worked for in a bank.
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  • Profile picture of the author Jesus Perez
    Swift code is the ABA/Routing number of non-American banks.

    It's used to identify a bank.

    The account # identifies your actual account inside the bank.

    A swift code says "deposit the money in this bank"
    An account number says "deposit the money into this particular account inside the bank".
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