BIC“, stands for “Bank Identification Code” or “Business Identifier Code”. BIC is an unique code for each bank. BIC can be of 8 or 11 characters, if branch is not know then it can be marked as “XXX”.

Standard: ISO 9362 (Modified in 2009, 2014)


    • SBIN – Institution Code (Financial or Non-Financial), here it is State Bank of India [Party prefix]
    • IN – Country Code, here it is India
    • BB – Location Code, here it is Bangalore [Party suffix]
    • 230 – Branch Code, here it is Electronic City Branch in Bangalore
  • SBININBBXXX – Branch not know or typically placeholder put by other bank which doesn’t accept 8 character BIC
  • SBININBB – 8 character BIC with no branch

Other Info:

  • BIC’s are essential during SEPA transfers and also during International transfers
  • BIC’s are primarily needed during transfers in SWIFT network
  • BIC’s are used during some of the Domestic transfers in some countries
  • Test BIC’s will have ‘0’ at 8th position, ex: SBININB0XXX
  • Type “Identifier Code” MT messages signify the BIC
  • Type “BICIdentifier” or tag name “BIC” in MX message signify the BIC
Credit: SWIFT

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