what is SWIFT code
SWIFT code is a standard format of Bank Identifier Codes (BIC) and serves as a unique identifier for a bank or financial institution.These codes are used when transferring money between banks, particularly for international wire transfers.On top of that, the code is used to transmit messages between financial institutions and banks. The SWIFT code can be either 8 or 11 characters long and 8 digits code refers to the primary office.hese codes are used when transferring money between banks, particularly for international wire transfers. On top of that, the code is used to transmit messages between financial institutions and banks.