What is a SWIFT code/BIC?

BIC (formerly known as SWIFT code) and SWIFT in general

You can compare a BIC to a personal identification number – only it’s used to identify banks, not persons, it works across the globe, not just in one country, and it is mostly written in capital letters and in some cases with a few numbers at the end.

A BIC is 8 to 11 characters long and consists of

• a bank code, which is 4 characters
• a country code, which is 2 characters
• a location code, which is 2 characters
• an optional branch code, which is 3 characters.

When do you need a SWIFT code/BIC?

You will sometimes need a BIC, formerly known as a SWIFT code, when you are to transfer money to someone in another country. You may need your own bank’s BIC if someone is to transfer money to you across borders. 

In most European countries, you will, however, first and foremost need the recipient’s international bank account number, or IBAN for short. You don’t always need both a BIC/SWIFT code and an IBAN, but it happens. Read more about IBAN, BIC/SWIFT and country requirements.

Where can you find your IBAN at Nordea?

If you are to receive money via an international transfer, your BIC (see above) and/or IBAN will likely be needed. Your IBAN can be found in Nordea’s mobile banking app or in Nordea’s internet bank under account details.