What is Swift Codes?

What is Swift Codes: Here in this article, we will cover the Swift basics. You must have heard of swift BIC codes if you ever happen to transfer or get money internationally. This code is used for the transaction of money from country to others. This code is an identifier of the bank and branch.

Although, many branches do not have Swift codes they utilize the Swift codes of other branches or of other city’s branches. So, the same bank can know the account number of the recipient and then received money that can be credited on the wire.


What is Swift Codes?


The example of swift is like –

XXXX YY ZZ AAA


  1. First 4 characters (XXXX) are the code of the bank (only letters are allowed)
  2. Next 2 characters – ISO 3166-1 alpha-2 (YY) are the code of the country code (only letters are allowed)
  3. Next 2 characters (ZZ) – this is the location code (letters and digits are allowed)
  4. Last 3 characters (AAA)- are the code of respective bank branch, optional (here letters and digits are allowed)

For HDFC Bank Delhi branch Swift code is –> HDFCINBBDEL

Swift Code is a standard format of Bank Identifier Codes (BIC). These codes have been started with the intention to make financial transactions things run smoothly. As everything is becoming global and people are doing business all over the world and thus the need to have smooth traction increased in due course of time.

For example, if you are doing any IT work (such as website coding and designing) sitting in India for a client that is remotely located in Denmark, then how payment would be transferred if they are not taking any help of payment processor (such as Paypal). Here, in this case, Swift BIC codes would be required to exactly identify the bank and branch.

In addition to Swift BIC codes, you will also require IFSC codes, bank account number, name of the bank account holder to complete the transaction. This type of transaction is also helpful when you do not want others to know about your business and the volume of business you re doing.




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