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BIC / SWIFT
Bankingab 9 J.
Bank Identifier Code – the international bank code. Identifies every bank worldwide. You need it for transfers outside the SEPA area.
The BIC (Bank Identifier Code, also SWIFT code) is the international identifier of a bank. It consists of 8 or 11 characters and uniquely identifies every bank worldwide.
Structure: COBADEFFXXX → COBA = Commerzbank (bank code), DE = Germany (country code), FF = Frankfurt (location code), XXX = head office (branch code)
When do you need the BIC?
• Within SEPA (Europe): usually NO longer needed – the IBAN is enough
• Outside SEPA (worldwide): for transfers to the USA, Asia etc. you need IBAN + BIC
Where do I find my bank's BIC? On your bank card, in online banking, on the bank's website or simply search for "BIC [bank name]".
Did you know? SWIFT stands for “Society for Worldwide Interbank Financial Telecommunication” and connects more than 11,000 banks in 200 countries. In 2022, Russian banks were excluded from SWIFT as a sanction.
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