Bank Branch Identifier Code. Sort codes help to identify bank branches for payments within a country, while SWIFT codes identify bank branches for international payments. Okay to put it clear for you let's say it's like a dog tags of a soldier in.
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, while BIC is short for Bank Identifier Code.
Used with a Bank Identifier Code (BIC), it helps to process international payments automatically, making them more secure and faster.
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These codes are used in wire transfers. Click here to find out how to check your OCBC branch code and bank code! BIC until recently referred to the Bank Identifier Code, a unique code specifying a bank, and optionally a branch.
