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SWIFT Code (BIC)

SWIFT code, also known as Bank Identifier Code (BIC) is one of the most pertinent parts of the SWIFT transfers instructions that you will need to get your international transfer right. 

HedgeFlows offers automatic SWIFT (BIC) validation and bank look-up when you set up beneficiary details on our platform.  If you were given other beneficiary bank details it is always useful to check them against the details we confirm based on the validated SWIFT code.

Valid  SWIFT codes consist of 8 to 11 characters that uniquely identify the beneficiary bank where the funds need to be transferred. Below picture explain the structure of a typical SWIFT code, using HSBC bank in the UK as an example:

SWIFT_format