{"id":9233,"date":"2023-12-13T06:59:04","date_gmt":"2023-12-13T11:59:04","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=9233"},"modified":"2023-12-13T07:27:02","modified_gmt":"2023-12-13T12:27:02","slug":"bank-identifier-code-bic","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/bank-identifier-code-bic\/","title":{"rendered":"Bank Identifier Code (BIC)"},"content":{"rendered":"\n
A BIC code, which stands for Bank Identifier Code, is a type of code used in the banking and financial industries to identify banks and financial institutions globally. It’s not a secret code or a code of conduct, but more like a standardized way to ensure that financial transactions are directed to the correct institutions.<\/p>\n\n\n\n
Think of it as the banking equivalent of a postal address, but instead of directing mail to a house, it directs money transfers to a specific bank. The BIC code is also known as a SWIFT code, which comes from the Society for Worldwide Interbank Financial Telecommunication, the organization that manages these codes.<\/p>\n\n\n\n
Here’s a simple breakdown of what a BIC code is and how it’s used:<\/p>\n\n\n\n
So, in essence, BIC codes are an essential part of the global financial system, acting as identifiers for banks to facilitate smooth and accurate international financial transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"
A BIC code, which stands for Bank Identifier Code, is a type of code used in the banking and financial industries to identify banks and financial institutions globally. It’s not a secret code or a code of conduct, but more like a standardized way to ensure that financial transactions are directed to the correct institutions. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"blocksy_meta":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable":"
A BIC code, which stands for Bank Identifier Code, is a type of code used in the banking and financial industries to identify banks and financial institutions globally. It’s not a secret code or a code of conduct, but more like a standardized way to ensure that financial transactions are directed to the correct institutions. Think of it as the banking equivalent of a postal address, but instead of directing mail to a house, it directs money transfers to a specific bank. The BIC code is also known as a SWIFT code, which comes from the Society for Worldwide Interbank…<\/p>\n","category_list":"","author_info":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable_v2":"
A BIC code, which stands for Bank Identifier Code, is a type of code used in the banking and financial industries to identify banks and financial institutions globally. It’s not a secret code or a code of conduct, but more like a standardized way to ensure that financial transactions are directed to the correct institutions. Think of it as the banking equivalent of a postal address, but instead of directing mail to a house, it directs money transfers to a specific bank. The BIC code is also known as a SWIFT code, which comes from the Society for Worldwide Interbank…<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num_v2":"0 comments","yoast_head":"\n