How to find a Swift Code

There are a couple of quick and easy options when searching for a bank SWIFT code.

Why do I need a Swift code?
Essentially this information is required when making an international payment. A Swift code is an international Bank identifier code which is either 8 or 11 characters long.

How to find a swift code?

• If you are making a payment into another persons bank account ask the person or supplier for details of their bank SWIFT BIC code.
• If you are transferring money to your own overseas account you will be able to find the Swift Code on an account statement. If you are unsure you can contact your bank either via telephone or in branch and they will be able to supply the correct bank identifier code.

Alternatively you can use our search tool which can be viewed here http://www.whichswift.com/search/ 

Don't confuse a Swift code with a routing code!

In the US routing numbers are used to identify financial institutions including banks within the domestic market, they are made up of 9 digits. They do look similar to a Swift code but should not be used when making an international payment.

A Swift code can be 8 or 11 digits long. The first 4 characters identify the bank, the next 2 are the country code, followed by 2 digits which show the location. If the Swift code is 11 digits long the final 3 digits show which branch your funds should be directed to.   

Swift BIC Example:

BARC GB 21 02G

This is a swift code for Barclays Bank in the United Kingdom, Bath Branch. 

BARC = The bank - Barclays

GB = Country - Great Britain

21 = Location

02G = Branch - Bath

For more information please visit our FAQ section.

International Money Transfer - Bank Charges

It can be rather costly to send money abroad from a UK bank especially if you are making regular small payments.

The table below shows the transfer fees banks apply to international payments from the UK. The amount you will be charged can vary depending on the amount you are sending and your transfer destination.

Bank	Transfer Fee
HSBC	£9-£22
Natwest	£10-£30
Barclays	£15-£40
Lloyds TSB	£10-£17.50
Santander	£25

Expensive regular payments

Most banks will only allow you to make an international payment abroad if you have a current account with them.

If you need to transfer £800 to Spain on a monthly basis to pay a mortgage from your Santander bank account in the UK, you will be charged £25.00 per transaction. Over a year this will cost you £300 in fees.

HSBC are offer cheaper transfer fees... You will be charged £9 per transaction when sending money to Australia, Hong Kong, South Africa, New Zealand and countries within Europe. If we were to do a price comparison on the monthly mortgage payment example above you would save £192 in transfer fees by using HSBC instead of Santander to transfer money to Spain.

However using HSBC would still cost you £108 in transfer fees over a 12 month period which is rather expensive.

Cheaper alternative and free money transfers

There are many Foreign exchange brokers based within the UK that offer a cheaper way to send money abroad. Providers such as TorFX and MoneyCorp offer free transfers to clients looking to make regular payments overseas.

Most companies will allow you to send money either online or with the help of a broker on the telephone. Making payments this way is fast, efficient and very cost effective as brokers generally offer far better exchange rates saving you even more!

"But how do  know my money if safe?....."

When selecting a foreign exchange broker it is important to use a firm with an  established trading history so that you know they have been around for a while. You should check that they are regulated by the FCA and ask them who their client accounts are held with. 

What information do I need to make an international money transfer?

If you are sending money abroad to your own bank account or paying money into another persons bank account you must have the following information:

• Account name
• Account number or International bank account number (IBAN)
• SWIFT BIC code (Bank identifier code)

You will also need to include a reference stating either your name or an invoice number so that the beneficiary knows the money has come from you.

IBAN's

In a number of countries it is mandatory to include an IBAN instead of just a domestic account number. An IBAN is an international bank account number. It's structure has been agreed upon globally and can consist of up to 34 alphanumeric characters. The first two letters and two numbers show the country. Next the bank identifier code, followed by the branch number and then the personal account number. 

Example of an IBAN 

GB29 NWBK 6016 1331 9268 19

Please note there should not be any spaces between the characters when you use an IBAN.

You can view the list of countries where it is mandatory here: http://www.whichswift.com/iban/

SWIFT BIC 

A SWIFT or BIC code or even a SWIFT BIC Code (as it's sometimes referred to) is best described as an international sort code. The term BIC stands for Bank Identifer Code and SWIFT is the Society for Worldwide Financial Telecommunication. Each bank and financial organisation is assigned a unique BIC Code by the SWIFT network so that each bank is easily identifiable globally. Messages and international money transfers are sent quickly via the SWIFT network.

A SWIFT BIC can be 8 or 11 characters long. The first 4 digits identify the bank, the following 2 are for the country and the next 2 identify the location of the main office. Some SWIFT Codes will include a further 3 characters to show the precise branch where the beneficiary account is held. 

Example of a SWIFT BIC Code

DEUT DE FF 500

Please note there should not be any spaces between the characters when you use a BIC Code.