ISO 9362
Encyclopedia
ISO 9362 is a standard format of Business Identifier Codes approved by the International Organization for Standardization
(ISO). It is a unique identification code for both financial and non-financial institutions. These codes are used when transferring money between banks, particularly for international wire transfer
s, and also for the exchange of other messages between banks. The codes can sometimes be found on account statements.
The overlapping issue between ISO 9362 and ISO 13616 is discussed in the article International Bank Account Number
(also called IBAN).
The latest edition is ISO 9362:2009 (dated 2009-10-01). The SWIFT code is 8 or 11 characters, made up of:
Where an 8-digit code is given, it may be assumed that it refers to the primary office.
SWIFT Standards, a division of The Society for Worldwide Interbank Financial Telecommunication
(SWIFT), handles the registration of these codes. Because SWIFT originally introduced what was later standardized as Business Identifier Codes (BICs), they are still often called SWIFT addresses or codes.
The 2009 update of ISO 9362 broadened the scope to include non-financial institutions, before then BIC was commonly understood to be an acronym for Bank Identifier Code.
There are over 7,500 "live" codes (for partners actively connected to the BIC network) and an estimated 10,000 additional BIC codes which can be used for manual transactions.
is an international bank, with its head office in Frankfurt
, Germany
. The SWIFT code for its primary office is DEUTDEFF:
Deutsche Bank uses an extended code of 11 digits and has assigned branches or processing areas individual extended codes. This allows the payment to be directed to a specific office. For example, DEUTDEFF500 would direct the payment to an office of Deutsche Bank in Bad Homburg.
Nedbank
is a primarily South Africa
n bank, with its head office in Johannesburg
. The SWIFT code for its primary office is NEDSZAJJ:
Nedbank has not implemented the extended code of 11 digits and all SWIFT transfers to its accounts are directed to the primary office for processing. Those transfer interfaces that require an 11 digit code would enter NEDSZAJJXXX.
Danske Bank is a primarily Danish
bank, with its head office in Copenhagen
. The SWIFT code for its primary office is DABADKKK:
Unicredit Banca is a primarily Italian bank with its head office in Rome.
The SWIFT code for the branch in Venice is e.g. UNCRIT2B912
Dah Sing Bank is a bank based in Hong Kong that has five branches in mainland China (primary mainland China branch in Shenzhen).
The SWIFT code for the branch in Shanghai is DSBACNBXSHA.
It uses the 11-digit extended code, and SHA identifies the Shanghai branch.
Note that one bank can seem to have more than one bank identifier in a given country for separation purposes. Bank of East Asia separates its representative branch in the US and its US-based operations for local customers into BEASUS33xxx (following the code used in its home country) and BEAKUS33xxx respectively. This differs from its local mainland China operations which are also BEASCNxxxxx following Hong Kong rather than having a separate identifier code.
SEPA payments require both BIC and IBAN. Both must be correct or payment will be rejected.
International Organization for Standardization
The International Organization for Standardization , widely known as ISO, is an international standard-setting body composed of representatives from various national standards organizations. Founded on February 23, 1947, the organization promulgates worldwide proprietary, industrial and commercial...
(ISO). It is a unique identification code for both financial and non-financial institutions. These codes are used when transferring money between banks, particularly for international wire transfer
Wire transfer
Wire transfer or credit transfer is a method of electronic funds transfer from one person or institution to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office...
s, and also for the exchange of other messages between banks. The codes can sometimes be found on account statements.
The overlapping issue between ISO 9362 and ISO 13616 is discussed in the article International Bank Account Number
International Bank Account Number
The International Bank Account Number is an international standard for identifying bank accounts across national borders with a minimal risk of propagating transcription errors. It was originally adopted by the European Committee for Banking Standards , and was later adopted as an international...
(also called IBAN).
The latest edition is ISO 9362:2009 (dated 2009-10-01). The SWIFT code is 8 or 11 characters, made up of:
- 4 letters: Institution Code or bank code.
- 2 letters: ISO 3166-1 alpha-2ISO 3166-1 alpha-2ISO 3166-1 alpha-2 codes are two-letter country codes defined in ISO 3166-1, part of the ISO 3166 standard published by the International Organization for Standardization , to represent countries, dependent territories, and special areas of geographical interest...
country code - 2 letters or digits: location code
- if the second character is "0", then it is typically a test BIC as opposed to a BIC used on the live network.
- if the second character is "1", then it denotes a passive participant in the SWIFT network
- if the second character is "2", then it typically indicates a reverse billing BIC, where the recipient pays for the message
as opposed to the more usual mode whereby the sender pays for the message.
- 3 letters or digits: branch code, optional ('XXX' for primary office)
Where an 8-digit code is given, it may be assumed that it refers to the primary office.
SWIFT Standards, a division of The Society for Worldwide Interbank Financial Telecommunication
Society for Worldwide Interbank Financial Telecommunication
The Society for Worldwide Interbank Financial Telecommunication operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions...
(SWIFT), handles the registration of these codes. Because SWIFT originally introduced what was later standardized as Business Identifier Codes (BICs), they are still often called SWIFT addresses or codes.
The 2009 update of ISO 9362 broadened the scope to include non-financial institutions, before then BIC was commonly understood to be an acronym for Bank Identifier Code.
There are over 7,500 "live" codes (for partners actively connected to the BIC network) and an estimated 10,000 additional BIC codes which can be used for manual transactions.
Examples
Deutsche BankDeutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
is an international bank, with its head office in Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. The SWIFT code for its primary office is DEUTDEFF:
- DEUT identifies Deutsche Bank
- DE is the country code for Germany
- FF is the code for Frankfurt
Deutsche Bank uses an extended code of 11 digits and has assigned branches or processing areas individual extended codes. This allows the payment to be directed to a specific office. For example, DEUTDEFF500 would direct the payment to an office of Deutsche Bank in Bad Homburg.
Nedbank
Nedbank
Nedbank is one of the largest banks in South Africa; however it is one of the newest banks to be incorporated in South Africa. It is headquartered in Johannesburg...
is a primarily South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
n bank, with its head office in Johannesburg
Johannesburg
Johannesburg also known as Jozi, Jo'burg or Egoli, is the largest city in South Africa, by population. Johannesburg is the provincial capital of Gauteng, the wealthiest province in South Africa, having the largest economy of any metropolitan region in Sub-Saharan Africa...
. The SWIFT code for its primary office is NEDSZAJJ:
- NEDS identifies Nedbank
- ZA is the country code for South Africa
- JJ is the code for Johannesburg
Nedbank has not implemented the extended code of 11 digits and all SWIFT transfers to its accounts are directed to the primary office for processing. Those transfer interfaces that require an 11 digit code would enter NEDSZAJJXXX.
Danske Bank is a primarily Danish
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
bank, with its head office in Copenhagen
Copenhagen
Copenhagen is the capital and largest city of Denmark, with an urban population of 1,199,224 and a metropolitan population of 1,930,260 . With the completion of the transnational Øresund Bridge in 2000, Copenhagen has become the centre of the increasingly integrating Øresund Region...
. The SWIFT code for its primary office is DABADKKK:
- DABA identifies Danske Bank
- DK is the country code for Denmark
- KK is the code for Copenhagen.
Unicredit Banca is a primarily Italian bank with its head office in Rome.
The SWIFT code for the branch in Venice is e.g. UNCRIT2B912
- UNCR identifies Unicredit Banca
- IT is the country code for Italy
- 2B912 is the code for Venice.
Dah Sing Bank is a bank based in Hong Kong that has five branches in mainland China (primary mainland China branch in Shenzhen).
The SWIFT code for the branch in Shanghai is DSBACNBXSHA.
- DSBA identifies Dah Sing Bank
- CN is the country code for China
- BXSHA is the code for Shanghai.
It uses the 11-digit extended code, and SHA identifies the Shanghai branch.
Note that one bank can seem to have more than one bank identifier in a given country for separation purposes. Bank of East Asia separates its representative branch in the US and its US-based operations for local customers into BEASUS33xxx (following the code used in its home country) and BEAKUS33xxx respectively. This differs from its local mainland China operations which are also BEASCNxxxxx following Hong Kong rather than having a separate identifier code.
SEPA payments require both BIC and IBAN. Both must be correct or payment will be rejected.
12-character SWIFTNet FIN address based on BIC
To identify endpoints on its network, SWIFT also uses 12-character codes that are derived from the BIC of the institution. Such a code consists of the BIC8, followed by 1-character code that identifies the Logical Terminal (LTC), or "local destination", and the 3-character branch code. These 'BIC12's are not part of the ISO standard, and are only relevant in the context of the messaging platform.See also
- Bank accountBank accountA Bank account is a financial account recording the financial transactions between the customer and the bank and the resulting financial position of the customer with the bank .-Account types:...
- Bank Identification Number (BIN)
- International Bank Account NumberInternational Bank Account NumberThe International Bank Account Number is an international standard for identifying bank accounts across national borders with a minimal risk of propagating transcription errors. It was originally adopted by the European Committee for Banking Standards , and was later adopted as an international...
(IBAN) - Society for Worldwide Interbank Financial TelecommunicationSociety for Worldwide Interbank Financial TelecommunicationThe Society for Worldwide Interbank Financial Telecommunication operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions...
(SWIFT) - Value transfer systemValue transfer systemA value transfer system refers to any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form....
External links
- ISO 9362:2009
- Bank Identifier Code SWIFT.com home page
- Official SWIFT search tool for bank names and Bank Identifier Codes
- Search Swift Code of any bank in the world
- Swift Codes BIC, IBAN, SWIFT codes Reference
- USA Bank Routing Numbers - search and sort lists of FedACH participants. Includes routing numbers, street addresses and phone numbers.