What is the difference between IBAN and SWIFT/BIC? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the difference between IBAN and SWIFT/BIC?

Asked by Banky team 2 months ago 1 views
Banky team Reviewed editorial answer

An IBAN identifies the account, and a SWIFT/BIC identifies the bank or institution in an international transfer.

Key points

  • Request the correct details from the recipient or their bank.

  • Not every domestic transfer requires a SWIFT number.

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