- Tech know how online

bank identifier code (BIC)

The Bank Identifier Code (BIC) is an internationally standardised code for the unique identification of banks worldwide. It is not identical but comparable to the Bankleitzahl (BLZ) used in Germany, but is internationally valid. In addition to the country and the bank name, the BIC code also records the bank branches.

Structure of the

Structure of the

BIC code The BIC code has 8 or 11 digits and is part of the International Bank Account Number (IBAN). The first four digits of the 11-digit BIC code are alphanumeric and contain the bank name. They are freely selectable, for example, the Deutsche Bundesbank has the bank designation MARK. The following two digits contain the country code according to the International Organization for Standardization (ISO). Germany has the country code "DE". This is followed by two more digits for the location, and the last three digits are reserved for the branch designation.

The BIC code is used by SWIFT for cross-border money transactions in the SWIFT network of the same name.

Informationen zum Artikel
Englisch: bank identifier code - BIC
Updated at: 24.10.2013
#Words: 224