What are SWIFT codes?

SWIFT/BIC codes are used to identify specific banks and branches in international money transfers, making sure your money gets to the right place. These codes are used by banks to process international wire transfers and messages.

All SWIFT codes consist of 8 or 11 characters. An 11 digit code refers to a specific branch, while an 8 digit code (or one ending in 'XXX') refers to the bank's head office. SWIFT code registrations are handled by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The term SWIFT is often used interchangeably with BIC, which stands for Bank Identifier Code.

The tools here are provided for informational purposes only. Whilst every effort is made to provide accurate data, users must acknowledge that this website accepts no liability whatsoever with respect to its accuracy. Only your bank can confirm the correct bank account information. If you are making an important or time-critical payment, we recommend you contact your bank first.

SWIFT versus IBAN

Depending on where you’re sending money to, you might be asked for an IBAN number as well as a SWIFT code. This is an international bank account number - used for identifying a specific bank account within an institution. You can think of it like giving directions to someone - the SWIFT code will get them as far as the right building, but they’ll also need the IBAN to find the specific apartment.

IBANs are not used by all countries. You’ll need an IBAN for payments to countries within Europe, but not for a transfer to the US, for example. Check the requirements for the country you’re sending to before you start making your payment.

SWIFT versus BIC

You may be asked for a BIC code - or even a SWIFT/BIC - instead of a SWIFT code. In this case, SWIFT and BIC codes are the same.

BIC stands for business identifier code. When the business you’re looking for is a bank, the specific type of identifier used is a SWIFT code.

Is a SWIFT code the same for all Banca Mediolanum branches?

SWIFT codes exist for bank branches, and for head office locations. It’s worth checking the exact SWIFT code you need for the type of payment you’re making. Sometimes banks require customers to use different codes for different types of transactions, or depending on which branch of the bank holds the specific account you’re sending to.

Get the information you need by checking a bank statement or using your online banking. You can also look up and check SWIFT codes using the tools provided here.