A SWIFT code is a Business Identifier Code (BIC), an 8 or 11 character identifier that tells banks exactly which institution should receive an international payment. Swift, acting as the registration authority for the ISO 9362 standard, issues BICs, and Chase, for example, tells customers to give senders the code CHASUS33 to receive an international wire, per Chase.
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The terms SWIFT code, SWIFT BIC and BIC refer to the same thing. The name comes from Swift, the cooperative that runs the financial messaging network banks use to send payment instructions to each other. A SWIFT code identifies the bank, not your individual account, so an international wire needs both the BIC and your account number (or IBAN in countries that use one). This page explains the structure of the code, walks through real examples, and covers when you need one.
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A SWIFT code identifies the receiving or sending institution in an international payment or financial message. Banks use it to address messages over the Swift network, route cross-border wires and record counterparties in compliance files. You need one mainly when sending or receiving a wire between countries.
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Swift describes the BIC as an international standard for routing business transactions and identifying business parties, used in financial transactions, client and counterparty databases and compliance documents, per the Swift BIC standards page. The same page notes that not every BIC is connected to the Swift network. Connected BICs can exchange messages over Swift; non-connected BICs exist for reference only.
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For a typical consumer, the practical use is simple. If someone abroad is sending you money, your bank gives you its SWIFT code to pass along. Chase, for instance, tells customers to give the sender its BIC or SWIFT code and their account number, on its wire transfer FAQ.
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A SWIFT code has a fixed structure. The first four characters identify the institution, the next two are the country, and the next two complete the party identifier. An optional final three characters can point to a specific branch or department, which makes the full code either eight or eleven characters long.
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Swift defines the BIC as an 8 character code made of a 4 character business party prefix, a 2 letter country code from ISO 3166-1, and a 2 character business party suffix, per the Swift BIC standards page. The same Swift page adds that a 3 character branch identifier is optional and identifies specific locations, departments, services or units of the same party.
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Here is how one real code breaks down. Chase publishes CHASUS33 as its code for incoming international wires, per Chase:
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Yes. Large banks often hold several BICs for different currencies, business lines or locations, and some use the optional branch identifier to route payments to a specific unit. That is why the right code depends on the payment type, and why senders should use the exact code the receiving bank publishes.
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Bank of America is a clear example. It lists two primary SWIFT codes for incoming international wires: BOFAUS3N for US dollars and BOFAUS6S for foreign currency, per Bank of America. Both share the BOFA prefix and US country code; only the two character suffix differs, which matches the structure Swift sets out on its BIC page.
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Using the wrong one can delay a payment or force a currency conversion you did not plan for. If a sender wants to wire euros into a Bank of America account without converting first, the foreign currency code is the one the bank points to.
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No. A SWIFT code identifies a bank internationally. A US routing number identifies a bank for domestic transfers such as ACH and domestic wires. An IBAN identifies an individual account in countries that use it. An international wire to Europe usually needs both the BIC and the IBAN.
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Swift maintains the IBAN as a separate international standard for identifying account numbers, described on its IBAN page. The United States does not use IBANs for domestic accounts, so US recipients give a SWIFT code plus an account number, as Chase instructs.
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Here is a quick checklist for receiving an international wire into a US account:

The most reliable source is the bank itself, through its website, app, or a statement. Swift also runs a public BIC directory search that returns the institution name and address registered to a code. Third-party lookup sites can be out of date, so check any code against the bank's own page.
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Swift offers a BIC search tool from its BIC standards page. Each BIC record includes the full legal name, the registered address, whether the holder is a financial institution, and publication and update dates, per Swift. Swift also requires BIC owners to confirm their data at least once a year, according to the same page.
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A SWIFT code only gets a payment to the right institution. It does not cap fees, guarantee speed or identify the account. Wires can pass through intermediary banks that each take a fee, and errors in other fields can still stall a payment even when the BIC is correct.

Yes. SWIFT code, SWIFT BIC and BIC all refer to the Business Identifier Code defined by ISO 9362, which Swift issues as registration authority, per Swift.
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The base BIC is 8 characters. The optional 3 character branch identifier makes it 11 and points to a specific location, department or unit, per Swift.
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Usually not. Domestic US transfers use a routing number. SWIFT codes are for international payments.
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Chase lists CHASUS33 for receiving international wires, per its wire transfer FAQ.
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Bank of America lists BOFAUS3N for US dollar wires and BOFAUS6S for foreign currency wires, per Bank of America.
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Structure definitions come from Swift's published description of ISO 9362. Bank codes come from each bank's own help pages, read on October 5, 2026. Always confirm a code with the receiving bank before sending.