Questions about IBAN and SWIFT codes
The short answers people actually need before sending a payment.
What is the difference between an IBAN and a SWIFT code?
An IBAN identifies one specific bank account. A SWIFT/BIC code identifies the bank itself. A transfer usually needs both: the BIC to route the message to the right institution, the IBAN to land it in the right account.
Can a SWIFT code be derived from an IBAN?
Partly. The IBAN contains the national bank code, and that code maps to an institution. The mapping is a lookup against a register, not a calculation, so a current register is required.
Why is my SWIFT code sometimes 8 and sometimes 11 characters?
Eight characters identify the institution and its head office. The optional last three identify a specific branch. If you were given 8, adding XXX means the same thing.
Is my IBAN stored when I use this?
It is sent, but not stored. Pressing the button transmits the full IBAN to the lookup service, because the bank is identified from it. That request is not written to any log we keep. Until you press the button, the IBAN stays in your browser.
The checksum says my IBAN is invalid. What now?
It is almost always a typo — a transposed pair of digits, or the letter O typed instead of a zero. Copy the IBAN again from the original document rather than retyping it.
Does a valid checksum mean the account exists?
No. The checksum only proves the number is internally consistent. It says nothing about whether the account is open or who owns it.