What is a SWIFT code?
A SWIFT code (also known as a BIC, Business Identifier Code) is the standardised identifier for a bank in the SWIFT payment network. It is what your sending bank needs to route an international wire transfer to the right institution. Without it, a cross-border wire literally cannot find its destination.
The code is either 8 or 11 characters. The 8-character form identifies the head office; the 11-character form adds a branch identifier ('XXX' as the trailing three characters always means the head office itself). Format follows strict logic: 4 characters for the bank, 2 for the country (ISO-3166), 2 for the city, and 3 optional for the branch.
A SWIFT code is not the same as an IBAN or a UK sort code. The IBAN is used in Europe and some African countries and identifies an individual account. The UK sort code and US routing number are domestic-only equivalents. For an international wire to an African bank, you will typically need the SWIFT code plus the recipient's account number.