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Business Identifier Code  (BIC) - Financial definition

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Translations:      FR  code BIC (n.m.) , code SWIFT (n.m.)     ES  código BIC (n.m.) , código SWIFT (n.m.)     DE  BIC-Code (n.m.) , SWIFT-Adresse (n.m.) , SWIFT-Code (n.m.) 
Synonyms:  BIC code, Bank Identifier Code, SWIFT code

Concise definition of the term Business Identifier Code

An 8- or 11-character code assigned as an address used by banks and financial institutions in payment and financial messaging systems.

Comprehensive definition of the term Business Identifier Code

The BIC is made up of four segments: a 4-character Bank identifier, a 2-character Country code, a 2-character Location code and an optional Branch code (up to 3 characters, defaulting to XXX).
BIC codes are used as standards in payment systems as well as financial messaging systems, such as SWIFT standards ISO 15022 and ISO 20022.
Some BIC examples:
Deutsche Bank AG, Frankfurt: DEUTDEFFXXX
Deutsche Bundesbank, Frankfurt: MARKDEFFXXX
KBC Bank NV, Paris: KREDFRPPXXX

Additional information related to this definition

Definition of related term

Legal Entity Identifier

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