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What is SWIFT CODE(SWIFT-BIC) in Banking

SWIFT BIC code is 8 or 11 characters long bank identification code used for money transferring between banks, especially for international wire transfers.
Swift Code of SBI info park Branch: SBININBB394 
The swift code has a standard format.

  1. Four letter bank code(SBIN)
  2. Two letter country code(IN)
  3. Two letter location code(BB)
  4. Three letter branch code(394)

Bank: state bank of India
Branch: Info park
SWIFT BIC is using in the banking sector. Mainly for INTERNATIONAL money transfer from other countries.
What is SWIFT CODE?
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) other names are ISO 9362, SWIFT-BIC, BIC code, SWIFT ID or SWIFT code
The standard format of Business Identifier Codes decided by the International Organization for Standardization (ISO).
SWIFT is a unique identification code for both financial and non-financial institutions.
SWIFT codes are used when sending money between banks, especially for international wire transfers.  SWIFT and BIC codes are representing the same code.
The SWIFT  code has 8 or 11 characters long with a standard format.
All bank branches don’t have SWIFT codes. Ask your branch for SWIFT code.

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