Banks and other financial institutions use IBAN and SWIFT codes to identify banks, branches and individual bank accounts around the world. The codes are used to ensure that when you send an international money transfer, it ends up in the right account.<\/p>
But what\u2019s the difference between IBAN vs SWIFT codes, and which code do you need when sending money overseas? Keep reading to find out.<\/p>
| <\/th> | What it does<\/th> | Description<\/th> | Where you can find it<\/th> | Example<\/th><\/tr><\/thead> | |||||
|---|---|---|---|---|---|---|---|---|---|
| SWIFT code<\/td> | Identifies a specific bank and branch<\/strong><\/td>| A SWIFT code is an alphanumeric number containing information that identifies a bank and a specific branch. It can be 8 or 11 characters long, depending on which bank and branch it refers to.<\/td> | Bank statement, online and mobile banking, enquire at your bank<\/td> | ROYCCAT2<\/td><\/tr> | IBAN<\/td> | Identifies a specific bank account<\/strong><\/td> | An IBAN is an alphanumeric number containing information that identifies a country, bank, branch and individual account. With lengths fixed by country, IBAN codes can be up to 34 characters.<\/td> | Bank statement, online and mobile banking, enquire at your bank<\/td> | GB 29 NWBK 601613 31926819<\/td><\/tr><\/tbody><\/table>\n \n\n | |