what is a bic code?
Swift Code, BIC Code, ISO 9362. Swift Code or BIC code are part of ISO 9362 standards. It is a standard format of Business Identifier Codes (âBICâ). BIC sometimes also refers to âBank Identifier Codeâ. Swift Code or BIC Code is a unique code to identify financial and non-financial institutions. These codes are mostly used when transferring money between banks, especially for international wire transfers or telegraphic transfer (âTTâ).