🏦 What Are Bank Codes?
Bank codes are unique identifiers assigned to banks and their branches to facilitate financial transactions, especially transfers. They help ensure that money is routed correctly between institutions.
🔑 Common Types of Bank Codes
| Code Type | Region/Use | Purpose |
|---|---|---|
| SWIFT/BIC | Global | Used for international wire transfers; identifies banks worldwide |
| IBAN | Europe, Middle East, parts of Asia | Standardized international bank account number |
| Routing Number (ABA) | United States | Used for domestic transfers and direct deposits |
| IFSC | India | Identifies bank branches for electronic payments like NEFT, RTGS |
| BSB Number | Australia | Identifies bank and branch for domestic transfers |
| Sort Code | UK & Ireland | Used for domestic bank transfers |
| CLABE | Mexico | Standardized 18-digit number for domestic transfers |
| NUBAN | Nigeria | 10-digit account number format for local transactions |
| NCC | New Zealand | National Clearing Code for domestic payments |
🧭 Structure of a SWIFT Code (Example: CHASUS33XXX)
- CHAS – Bank code (JPMorgan Chase)
- US – Country code (United States)
- 33 – Location code
- XXX – Branch code (head office)
🔍 Want to Look Up a Specific Code?
You can use tools like the Bank Codes & IBAN Lookup Search or SWIFT Code Finder to find or validate codes for any bank worldwide2.