What is a BIC code?
ISO 9362 is the international standard for a BIC (bank identifier code), which is an 8–11-character code identifying a specific bank during international transfers. Also known as a SWIFT code, it routes funds to the correct bank. UK residents typically need one when making or receiving international wire transfers.
Sending money to friends or family abroad is often more complex than just popping cash in an envelope. Not only can this be unsafe, but banks are required to carefully monitor and track money transfers across borders. One way they do this is by using bank identification codes. When making an international money transfer, these codes ensure the money reaches the correct bank and account. Although important, you don’t always need to know a bank identification code to make a secure transfer.
For instance, you don’t need one when using Remitly, a platform that offers affordable, safe, and convenient transfers directly from your phone. Understanding how these codes work, however, can be helpful. This guide explores the different types of bank identification codes and what they mean.
All the facts in a glance
- What it is: A BIC (also called a SWIFT code) is an 8 to 11 character code that identifies a specific bank for international transfers. It’s different from an IBAN, which identifies the actual account.
- When you need it: UK residents typically need a BIC to send or receive international transfers, though services like Remitly don’t always require one.
- Where to find it: Check your bank’s app, website, or a recent bank statement, or contact your bank directly if you can’t locate it.
How is a BIC code structured?
Banks communicate via remittance messages, which are instructions to transfer money between accounts. These messages often include SWIFT/BIC codes or IBANs, which look like a jumble of letters and numbers to most people. The first eight characters identify the business party, while the final three characters are optional and identify a specific branch, department, service, or organisational unit.
As an example, BUKBGB22 is the eight-character BIC for Barclays Bank UK PLC. Adding the optional branch identifier XXX produces BUKBGB22XXX, an 11-character BIC.
- 8-character BIC: BUKBGB22 identifies the business party.
- 11-character BIC: BUKBGB22XXX adds a three-character branch identifier.
- Optional branch: The final three characters don’t always represent a physical bank branch. Under the ISO 9362 standard, they can identify a specific location, department, service, or other organisational unit of the same business party.
- XXX: When an 11-character version ends in XXX, it represents the same business party as the corresponding eight-character BIC rather than identifying a separate branch.
BIC code vs IBAN: What’s the difference?
A BIC identifies the bank, while an IBAN identifies the specific bank account. Both are commonly required when making international money transfers, although the exact information needed depends on the countries and banks involved. For a closer look at how these codes work, take a look at our guide to bank identification codes.
| BIC | IBAN |
|---|---|
| Identifies a specific bank or financial institution. | Identifies a specific bank account. |
| Contains 8 or 11 characters. | Varies in length depending on the country. |
| Uses a standardised format to identify the institution, country, location, and, optionally, a branch. | Includes the country code, check digits, and domestic bank account details. |
| A UK BIC can look like BUKBGB22, identifying Barclays Bank UK PLC. | A UK IBAN contains 22 characters and identifies an individual account. |
| Often called a SWIFT code or SWIFT/BIC code. | Stands for international bank account number. |
UK IBAN format
A UK IBAN always contains 22 characters, structured like this:
GB + 2 check digits + 4-character bank code + 6-digit sort code + 8-digit account number
For example:
GB29 NWBK 601613 31926819
Breaking this example down:
- GB = United Kingdom country code
- 29 = two check digits
- NWBK = four-character bank code
- 601613 = six-digit sort code
- 31926819 = eight-digit account number
When do UK residents need a BIC code?
UK residents generally need a BIC when making or receiving international bank transfers. Here are the situations when it’s typically required:
- Sending money abroad.
- Receiving money from abroad.
- International payroll.
- UK-to-EU transfers after Brexit: Brexit changed the regulatory framework for UK-EU payments, but it didn’t mean that the UK left the Single Euro Payments Area (SEPA). The UK remains part of the geographical SEPA, and UK payment service providers can participate in SEPA schemes. Pay.UK operates a SEPA IBAN-Only Directory that allows a UK BIC to be derived from a GB IBAN. For SEPA euro payments, IBAN-only processing can apply, although a BIC may still be requested depending on the payment provider or transaction.
How to find your BIC code in the UK
You can usually find your BIC, also called a SWIFT code, through your bank’s app or website, on a bank statement, or by contacting your bank directly.
- Check your bank’s app or website. Log into your banking app or online account and look under your account details or international payment information. HSBC customers can choose an account in the mobile app or online banking, then open Account details to see their IBAN and BIC. NatWest customers can select their account and choose View account details. Starling customers can select Account details > International in the app to see their SWIFT/BIC code.
- Check your bank statement. Your BIC is often printed alongside your IBAN and other account information.
- Use your bank’s online banking portal. The exact steps vary between banks.
- Contact your bank directly if you can’t find it.
- If you already have a BIC and want to check that it corresponds to the correct financial institution, use the official SWIFT BIC Search.
What happens if you use the wrong BIC code?
Using the wrong BIC can cause an international transfer to be delayed, rejected, or, in some cases, sent to the wrong bank.
- The transfer may be delayed.
- The transfer may be rejected.
- A valid BIC belonging to another bank can potentially route a payment incorrectly.
- If money is sent to the wrong bank or account, recovering it can take days or weeks.
- A returned or recalled international payment can incur fees, including charges from intermediary or receiving banks.
Before sending a large international payment, double-check the BIC with the recipient’s bank and confirm it matches the recipient’s IBAN and other payment details. This is particularly important for large amounts, where correcting an error can be more complicated and costly.
FAQs about bank identification codes
What is a bank identification code?
A bank identification code (BIC) is a unique code used to identify a financial institution during money transfers. These codes ensure that funds are sent to the correct bank and account, especially for international transactions.
What is a SWIFT code?
A SWIFT code (also known as a BIC) is an 8- to 11-character code that identifies a specific bank and branch for international money transfers. For example, in the SWIFT code GIRAGB2LXXX, “GIRA” is the bank, “GB” is the country (United Kingdom), “2L” is the location (London), and “XXX” is the branch.
What is an IBAN?
An international bank account number (IBAN) is a code used to identify an individual’s bank account for international transactions. It can be up to 34 characters long and includes details such as the country code, bank code, and account number.
Do I need a SWIFT code or IBAN to send money abroad?
It depends on how you are sending the money:
- Bank transfers: You will usually need either a SWIFT code or an IBAN.
- Services like Remitly: These may not require SWIFT codes or IBANs, as they simplify the process by allowing cash pickups or direct transfers with minimal details.
How do I find my bank’s SWIFT code or IBAN?
You can find your SWIFT code or IBAN by:
- Checking your bank statement.
- Logging into online banking.
- Contacting your bank directly.
Key takeaways
- A BIC identifies the bank or financial institution, while an IBAN identifies the specific bank account. International bank transfers will typically require both, depending on the payment and destination.
- SEPA payments may use IBAN-only processing, although a BIC might still be requested for some international payments.
- You can usually find your BIC in your bank app or online banking, on your bank statement, or by contacting your bank directly.
- Using an incorrect BIC can result in a transfer being delayed, rejected, or misdirected, and recovering incorrectly sent funds can take time and may involve fees.
For more information about BIC codes and international money transfers, visit Remitly.
Last reviewed: August 2026
