What is a SWIFT Code / BIC Code?

SWIFT-BIC, BIC code, SWIFT ID or SWIFT code (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. The acronym SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. When assigned to a non-financial institution, the code may also be known as a Business Entity Identifier or BEI. These codes are used when transferring money between banks, particularly for international wire transfers, 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 SWIFT network does not require a specific format for the transaction so the identification of accounts and transaction types is left to agreements of the transaction partners. In the process of the Single Euro Payments Area the European central banks have agreed on a common format based on IBAN and BIC including an XML-based transmission format for standardized transactions; the TARGET2 is a joint gross clearing system in the European Union that does not require the SWIFT network for transmission (see EBICS). The TARGET-directory lists all the BICs of the banks that are attached to the TARGET2-network being a subset of the SWIFT-directory of BICs.

Browse SWIFT / BIC codes by countries starting with the capital letter below...

CLYDGB21828 Swift / BIC code for CLYDESDALE BANK PLC bank located in WISHAW - UNITED KINGDOM (GB)

Swift Codes also known as BIC Codes is a unique bank identifier used to verify financial transactions such as a Bank Wire Transfer.

The Bank Swift Codes provides information about the bank and branch where the money should be transferred. Being able to check information about the Swift Code will provide you with the proper information necessary to make or receive payments. Some of the banks and their associated branches benefit from an address listing which provides you with the means to match swift codes with financial institution office address.

This unique swift code directory provides businesses and individuals with an easy way to avoid bank transfer and money transfer mistakes.

Swift Code General Structure

The SWIFT code / BIC code is made up of 8 or 11 characters, broken down as follows:

  • 4 letters: Institution Code or bank code.
  • 2 letters: ISO 3166-1 alpha-2 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 (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.

SWIFT CODE

CLYDGB21828

BANK NAME: CLYDESDALE BANK PLC
BANK BRANCH: (WISHAW)
COUNTRY: UNITED KINGDOM (GB) FlagUNITED KINGDOM (GB)
CITY: WISHAW
ADDRESS: 38 STEWARTON STREET
LOCATION: WISHAW ML2 8AN

Swift Code CLYDGB21828 Breakdown

No. meaningful digits:
11 - This swift code references a branch office.
Institution/Bank Code:
CLYD - This is the bank code associated with CLYDESDALE BANK PLC.
Country Code:
GB - This is the 2-letter country code associated with UNITED KINGDOM (GB).
Location Code:
21 - This represents the location code and the second digit/character has a value of "1". This means that this is a passive participant in the SWIFT network.
Branch Code:
828 - This code value means that this is not not a primary office but rather a branch: (WISHAW) bank branch of CLYDESDALE BANK PLC.