what is a swif code
SWIFT Code is a unique identification code for a particular bank and it is a standard format of Bank Identifier Codes (BIC). SWIFT Codes are used for transferring money and messages between banks.SWIFT Code is 8 or 11 characters for a bank.If SWIFT Code is 8 character code then it points to the primary branch/office.There are a great many SWIFT codes which correspond to various types of message. A SWIFT code is normally made up of the letters 'MT', and then a three digit number.The 'MT' simply stands for 'message type', and the numbers correspond to a certain type of SWIFT message.WIFT Code is 8 or 11 characters for a bank. If SWIFT Code is 8 character code then it points to the primary branch/office. There are a great many SWIFT codes which correspond to various types of message. A SWIFT code is normally made up of the letters 'MT', and then a three digit number.