A BIC is an 8 or 11-character code that identifies your bank worldwide
A BIC (Bank Identifier Code) is a standardized number that tells the financial system which bank you use and where. It's also called a SWIFT code because SWIFT, the organization that assigns them, manages the system. When you send or receive money internationally, or when a foreign bank needs to find your bank, they use your BIC to route the payment to the right place.
The code itself is made up of letters and numbers in a specific pattern. An 8-character BIC covers the bank and country. An 11-character BIC adds a branch code, which narrows it down to a specific location. For example, a BIC might look like CHASUS33 (8 characters) or CHASUS33XXX (11 characters). The first four letters identify the bank, the next two identify the country, the next two identify the city, and the last three (if included) identify the branch.
Key Takeaways
- A BIC is required for most international wire transfers and is often requested alongside your IBAN (International Bank Account Number) or account number.
- Your bank's BIC is the same regardless of which branch you use, though some banks assign branch-specific codes for larger locations.
- You can find your BIC on your bank statement, through your online banking portal, or by asking your bank directly.
- BICs are used mainly for international payments; domestic transfers within the United States typically use routing numbers instead.
Where you'll need to provide a BIC
International wire transfers are the most common reason you'll need a BIC. When you send money to someone in another country, your bank uses the BIC to identify the receiving bank and route the payment through the SWIFT network. Without it, the transfer may be delayed or rejected.
Some foreign banks also request a BIC when you're receiving a payment from abroad, even if you're in the United States. If someone overseas is paying you, they may ask for your U.S. bank's BIC so their bank knows where to send the money. You may also need it when setting up recurring international payments or when a foreign financial institution is verifying your account details.
How a BIC differs from a routing number
In the United States, domestic transfers use a routing number instead of a BIC. A routing number is a nine-digit code specific to your bank and branch, and it's used for ACH transfers, wire transfers within the U.S., and check processing. Your bank's routing number appears on the bottom left of your checks.
A BIC serves the same purpose as a routing number, but it's the international standard. If you're sending money to another country, you use the BIC. If you're sending money within the U.S., you use the routing number. Some banks list both on their websites or statements to avoid confusion.
How to find your bank's BIC
The easiest way is to log into your online banking account and look for account details or wire transfer information. Most banks display the BIC prominently in the section where you'd set up an international transfer. If it's not there, check your most recent bank statement—many banks print it near the routing number.
You can also call your bank's customer service line and ask for the BIC. Have your account number ready. Some banks also publish their BIC on their website in a help or FAQ section. If you're receiving a payment and the sender asks for your BIC, confirm it with your bank before providing it—you want to make sure you're giving the correct code so the money reaches your account.
What happens if you provide the wrong BIC
If the BIC is incorrect, the sending bank's system may reject the transfer outright, or it may route the payment to the wrong bank. In either case, the money doesn't reach you on the first attempt. The sending bank will typically notice the error and either return the funds to the sender or contact you to ask for the correct code.
The delay can range from a few days to a week or more, depending on how quickly the error is caught and corrected. To avoid this, double-check the BIC before confirming any international transfer. If you're unsure, contact your bank directly rather than guessing.
BICs for U.S. banks receiving international payments
U.S. banks all have BICs, even though they're not used for domestic transfers. If you're receiving money from abroad, the sender's bank will use your U.S. bank's BIC to route the payment into the U.S. financial system. Your bank then uses your account number to deposit it into your specific account.
Most major U.S. banks have a single BIC for the entire bank, not separate codes for each branch. This makes it simpler for foreign senders—they don't need to know which branch you use. Smaller regional banks or credit unions may have different BICs depending on location, so it's worth confirming with your institution if you're unsure.
Frequently Asked Questions
Is a BIC the same as a SWIFT code?
Yes. BIC and SWIFT code refer to the same thing. SWIFT is the organization that assigns and manages these codes, so people often use the terms interchangeably. When someone asks for your SWIFT code, they're asking for your BIC.
Do I need a BIC for domestic transfers in the U.S.?
No. Domestic transfers within the United States use routing numbers, not BICs. You only need a BIC when sending or receiving money internationally, or when a foreign bank specifically requests it.
Can I use the same BIC for all my accounts at the same bank?
Yes. Your bank's BIC identifies the bank itself, not your individual account. All accounts you hold at that bank share the same BIC. Your account number is what distinguishes your account from others at the same bank.
What if my bank doesn't have a BIC?
All banks that participate in international transfers have a BIC. If your bank says it doesn't have one, it may mean they don't handle international transfers directly, or they may be routing payments through a larger correspondent bank. Ask your bank which BIC to provide for incoming international payments.
How long does an international transfer take if I provide the correct BIC?
With the correct BIC, an international wire transfer typically takes one to three business days, depending on the receiving country and whether there are any intermediate banks involved. Some transfers can be faster, but delays can occur if additional verification is needed or if the receiving bank is in a different time zone.