What is the BIC of an account?
The BIC (Bank Identifier Code), also known as SWIFT code, is an alphanumeric identifier standardised by ISO 9362 that uniquely identifies a bank — and optionally a specific branch — in any international financial operation.
TL;DR
- It has 8 or 11 characters: 4 bank + 2 country + 2 location + 3 branch (optional).
- Inside SEPA it is no longer mandatory if you have the IBAN (since 2016).
- BIC and SWIFT code are the same thing in practice.
- You can derive it from an IBAN with our free Bank from IBAN tool.
BIC structure
| Position | Characters | Meaning |
|---|---|---|
| 1-4 | Letters | Bank code (e.g. DEUT, BBVA) |
| 5-6 | Letters | ISO 3166-1 country code (e.g. DE, ES) |
| 7-8 | Letters or digits | Location / city code |
| 9-11 | Letters or digits | Branch code (optional). When absent, padded with XXX |
Example: BBVAESMMXXX → BBVA bank, Spain, Madrid head office (MM), no specific branch.
BIC vs. SWIFT: are they the same?
Yes. SWIFT is the interbank messaging network that standardised the BIC, which is why the terms are used interchangeably. The official standard is ISO 9362.
When do you need a BIC?
- Transfers outside SEPA: always required.
- SEPA transfers inside the EU: optional since February 2016 (Regulation 260/2012, art. 5).
- Legacy bank files (German DTAUS, Spanish Norma 19/34/58, etc.): still common.
- Cross-currency payments: required to route the operation.
How to find a BIC
- From your IBAN: use our Bank from IBAN tool — we return the BIC and bank name.
- Bank statement: most banks include it in the monthly summary.
- Bank website: under “Identification details” or “SWIFT”.
- SWIFT directories: the official directory lives at swift.com, usually behind a subscription.
Common BIC mistakes
- Confusing BIC8 (
BBVAESMM) with BIC11 (BBVAESMMXXX). Either works in SEPA. - Entering the sender’s BIC where the bank asks for the beneficiary’s.
- Pasting hidden whitespace: BICs do not allow spaces.
Conclusion
The BIC is still the identifier that pins down your bank inside the international financial system. For modern SEPA operations it is often optional, but it is worth keeping handy for legacy file uploads or non-SEPA payments. If you only have an IBAN, derive the BIC automatically with our Bank from IBAN tool.
