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

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the difference between IBAN and SWIFT?

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

An IBAN identifies the beneficiary's account, and a SWIFT/BIC identifies the bank for international transfers.

For international money transfers, you may need both, in addition to the beneficiary's name and address, or other information depending on the bank.

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