- 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.
