Find the bank branch address details, contact details including the Telephone number and email address, PIN code, IFSC code and MICR code of 165 computerised banks in India, by entering the SWIFT code you have in the search box given in this page at banksifsccodes.com!
What is SWIFT Code?
The acronym SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It is also known as SWIFT-BIC, SWIFT ID or ISO 9362. The SWIFT code denotes a standard format of Business Identifier Codes which are approved by the International Organization for Standardization.
Every single financial and non-financial institution is uniquely identified by these SWIFT codes and when these codes are assigned to a non-financial institution it is referred to as Business Entity Identifier (BSI). SWIFT do not follow any specific format for identifying the bank accounts and types of transactions therefore the banks or organizations participating in the transaction decide themselves the format.
According to the latest edition of ISO 9362:2009, the SWIFT code is generally made of 8 or 11 characters. This code comprises of four letters which denoted the code of the Bank or the Institution. Two other letters represent the country code based on ISO 3166-1 alpha-2. Then two letter or digits, which denote the location code and lastly three letters or digits which optionally denote the branch code.
Why Do We Need SWIFT Code?
SWIFT codes can be sometime found on account statements and are primarily used for monetary transactions between banks which in particular are wire transfers. Other than that these codes are used for transferring messages between the banks as well. SWIFT Codes are primarily used to transfer money to or from international banks i.e. abroad.
These SWIFT Codes are unique for every bank and their structure depends on the countries to which the banks belong, which are participating in the transaction. As of now there are more than 40,000 live SWIFT codes. The word denotes the two parties involved in the transaction who are actively connected to the network.
Other than that there are more than 50,000 additional SWIFT codes which are for the passive participants and are used for the manual transactions.
How To Find SWIFT Codes?
banksifsccodes.com provides the SWIFT codes of all the bank branches in India. Here, you will get the SWIFT codes of 165 computerised banks in India without spending too much time.