SWIFT Code

Full form: Society for Worldwide Interbank Financial Telecommunication

Banking

A SWIFT code (also called BIC -- Bank Identifier Code) is an 8-11 character code used for international wire transfers. Required when sending money from abroad to India or when an NRI sends money to Indian bank accounts.

In detail

SWIFT code format: AAAABBCCXXXnAAAA = Bank code (4 letters)nBB = Country code (IN for India)nCC = City codenXXX = Branch code (optional, 3 characters)nnCommon Indian bank SWIFT codes:nHDFC Bank: HDFCINBBnSBI: SBININBBnICICI Bank: ICICINBBnAxis Bank: UTIBINBBnKotak Mahindra: KKBKINBBnnFor inward remittances (NRI sending money to India): beneficiary provides SWIFT code + account number + IFSC. Both SWIFT and IFSC are typically required.

Real-life example

🇮🇳 India example

Ravi (NRI in USA) sends USD 5,000 to his Bangalore HDFC account. He provides his US bank: HDFC SWIFT code HDFCINBBCHE (Chennai main branch), account number, and IFSC HDFC0000240. Funds arrive in 2-3 business days via the SWIFT network.

Frequently asked questions

Do I need SWIFT code for domestic UPI or NEFT transfers? ▼

No. SWIFT codes are only for international wire transfers. Domestic transfers (within India) use IFSC for NEFT/RTGS/IMPS or just UPI ID. SWIFT is only relevant when money crosses international borders.