BIC (Business Identifier Code)
The BIC (Business Identifier Code), also commonly referred to as the SWIFT code, is an 8- or 11-digit alphanumeric code that uniquely identifies banks and financial institutions worldwide. It is assigned and managed by SWIFT (Society for Worldwide Interbank Financial Telecommunication).
The BIC is used for international bank transfers and cross-border payments to uniquely identify the recipient bank. Within Switzerland and the SEPA zone, often only the IBAN is required for transfers — the BIC is derived automatically. For transfers outside the SEPA zone, however, the BIC is mandatory.
Structure of the BIC: The first 4 characters represent the bank (e.g. UBSW for UBS), the next 2 represent the country (CH for Switzerland), the next 2 represent the location (ZH for Zurich), and the optional last 3 represent the branch.
BIC examples
The BIC of UBS in Zurich is UBSWCHZH80X. UBSW = Bank, CH = Switzerland, ZH = Zurich.
For a transfer from Switzerland to Germany, the ordering party needs the recipient's IBAN and the BIC of the recipient's bank.
In the SEPA area, the IBAN alone has been sufficient since 2016 — the BIC is automatically determined by the bank.
BIC FAQ
What is a BIC?
The BIC (Business Identifier Code) is an international bank code that uniquely identifies financial institutions worldwide. It is also referred to as a SWIFT code and consists of 8 or 11 characters.
Where can I find my BIC?
You can find your BIC on your bank statement, in your e-banking, on the back of your bank card or on your bank's website. In Switzerland, you can also determine the BIC using the IBAN search from SIX.
Do you need the BIC for transfers in Switzerland?
For transfers within Switzerland and the SEPA area, the IBAN is usually sufficient. The BIC is automatically derived. For international transfers outside the SEPA area, however, the BIC is required.
What is the difference between BIC and SWIFT code?
BIC and SWIFT code refer to the same thing: the international bank identifier code. SWIFT is the organisation that issues the code, which is why it is colloquially known as the SWIFT code.
