Banks and other financial institutions keep track of your money using a system of unique codes assigned to each bank or account they do business with. Different countries use different systems, and the two most common are IBAN numbers and SWIFT codes.
| Description | Where you can find it | Example | |
|---|---|---|---|
| SWIFT | A SWIFT number is an alphanumeric number containing information that identifies a bank and branch. It can be eight or 11 characters long, depending on which bank office it refers to. | Bank statement, Online banking system, Inquire in the bank | NFBKUS33 |
| IBAN | An IBAN number is an alphanumeric number containing information that identifies a bank, country and account number. With lengths fixed by country, IBAN codes can be up to 34 characters. | Bank statement, Online banking system | GB 29 NWBK 601613 31926819 |
SWIFT codes — short for the Society for Worldwide Interbank Financial Telecommunication — are worldwide bank ID codes. These codes identify banks and financial institutions around the world, explaining who they are and where they are located.
Unlike IBAN, which identifies specific bank accounts, SWIFT refers to a specific bank only — including banks in the US. Some 40,000 banks and offices worldwide are part of the SWIFT network.
A SWIFT number is an alphanumeric number containing information that identifies a bank and branch. It can be 8 or 11 characters long, depending on which bank office it refers to.
An example of a SWIFT code is this one for a Chase Bank in New York City: CHASUS33JCC.
We can break down this SWIFT code to discover:
If you live in a country that participates in SWIFT, find your SWIFT number on your bank statement, by signing in to your online banking system or by calling your bank.
If you’re sending money internationally and need a SWIFT number, ask your recipient for the SWIFT number of the bank to which their account belongs.
No. For domestic payments, US banks use a domestic routing code to identify your specific bank and bank account. It’s made of a nine-digit ABA number that identifies your bank and branch and your unique account number.
This routing number is often found at the bottom of your personal checks or by signing in to your online banking system.
IBAN numbers — short for International Bank Account Number — are a unique number assigned to specific bank accounts involved in international business. Though not exclusive to Europe, IBAN is used in most European countries. The United States does not use IBAN numbers, but you could encounter them when sending money to an international recipient — specifying the IBAN number makes for faster transactions.
An IBAN number is an alphanumeric number containing information that identifies a bank, country and account number. With lengths fixed by country, IBAN codes can be up to 34 characters.
An example of an IBAN code in at Great Britain’s National Westminster Bank is GB 29 NWBK 601613 31926819.
Breaking down our UK IBAN code, we find:
If you live in a country that uses IBAN, you can find your IBAN number on your bank statement or by signing in to your online banking system.
If you’re sending money internationally and need an IBAN number, ask your recipient for the IBAN number of their deposit account.
The mysterious IBAN and SWIFT codes are anything but: They identify specific banks among the many financial transactions conducted worldwide among bank accounts. And they’re especially important when it comes to international money transfers.
Learn more about getting the best rates and fees to friends, family and businesses abroad in our guide to international money transfers.
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From bank transfers to specialist money transfer companies, there are several options available when you need to transfer money overseas from your bank account.
If you need to transfer money overseas using your credit card, you can do so via your bank, MoneyGram, Western Union and PayPal. This can be useful in emergency situations, but credit card transfers are usually not a cost-effective option.
If you’re looking for a secure way to send money overseas, an international bank draft could be for you — but if speed is important, consider using a money transfer service instead.
what to do to receive a wire transfer from US if their asking for an IBAN?
Hi Bernz,
Thanks for your comment and I hope you are doing well.
When a bank asks for an IBAN, you would need to get the IBAN of your bank (where the funds are going to be deposited) otherwise the transfer will not be successful.
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
Hola, tengo una consulta, soy de El Salvador y me enviaran una transferencia desde España, pero me piden el IBAN de este PaÃs, y aquà solo se trabaja con código swift, sin embargo, me indican que si logró enviarles el código IBAN de un Banco de El Salvador, no será posible que yo reciba la transferencia, que opciones tengo?
Hola eloisa
Gracias por contactar a Finder.
En El Salvador, hay 11 bancos diferentes y 13 sucursales bancarias diferentes de estos bancos. Es posible que deba comunicarse directamente con su banco para obtener su código IBAN, ya que es una combinación de SWIFT y su número de cuenta bancaria. ¡Espero que esto ayude!
Aclamaciones,
Reggie
Barclay’s bank send to me account number ,pin code ,international call no so that I must transfer money to my bank account then I must phone and follow voice prompted. On the voice prompt it need six digits for change access code to commence with transfer transaction. I don’t know that code. Please help me.
Hi Robert,
Thank you for reaching out to Finder.
Swift and IBAN codes are alpha numeric which is a combination of letters and numbers. You may need to reach out to Barclay directly so you could inquire what code that is the voice prompt is asking. Hope this helps!
Cheers,
Reggie
I cannot proceed to international bank transfer because the swift code of beneficiary bank is not yet registered for online operations. Can I replace the swift code with the IBAN? I mean instead to write in the space where is located SWIFT code just type the IBAN instead.
Thank you.
Hi AC,
Thank you for getting in touch with Finder.
Yes, you may use the IBAN so long that your bank already have that. Please note that the United States does not use IBAN numbers, but you could encounter them when sending money to an international recipient — specifying the IBAN number makes for faster transactions.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
What documents are needed to ensure that you legally transfer money , and where do I obtain this document s
Hi Sam,
Thank you for reaching out to Finder.
Generally, when transferring money you would only need the receiver’s information to complete a transfer. For large sum transfers, the remittance center or the bank will provide you documents that you would need to complete which are normally handed over to the IRS to validate that the transfer is legal. For more information on this, you may contact your local bank or remittance center. Hope this helps!
Cheers,
Reggie