bank Austria swift code - Austria Bank Account

What is the difference between bank swift code and bic code?

SWIFT and BIC codes are basically the same. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) handles the registration of these codes. For this reason, Bank Identifier Codes (BICs) are often called SWIFT addresses or codes.

SWIFT codes or the bank identifier codes are provided to financial institutions by the Society for Worldwide Interbank Financial Telecommunication, which is put to use to identify financial as well as non-financial institutions.

What is bank swift code?

Bank swift code which is also referred to as the BIC code is a unique code that is used to recognize financial and non-financial institutions. The bank swift code comes with eight or eleven characters that throw light on details regarding the bank code, country code, location code, and the branch code. The first four letters of a eleven digit bank swift code is but the bank code, followed by another two digits that identifies the country code, as the next two letters help identify the location of the financial institution. The last three letters tell us more about the branch related to a financial institution, which is but an optional code of letters that come along with the other details of a financial institution.



Example: BOFAUS3MXXX

BOFA 4 letters: Institution Code or bank code.
US 2 letters: ISO 3166-1 alpha-2 country code
3M 2 letters or digits: location code
if the second character is "0", then it is typically a test BIC as opposed to a BIC used on the live network.
if the second character is "1", then it denotes a passive participant in the SWIFT network
if the second character is "2", then it typically indicates a reverse billing BIC, where the recipient pays for the message
as opposed to the more usual mode whereby the sender pays for the message.
XXX 3 letters or digits: branch code, optional ('XXX' for primary office)

Where an 8-digit code is given, it may be assumed that it refers to the primary office.

How bank swift code helps businesses?

Businesses that plan to enter into transactions with clients located in other countries should take note of the bank swift code to enable smooth international transactions. As an inherent part of international transactions, bank swift code is used to transfer money between banks, particularly for telegraphic transfers and wire transfers. This code is also used by banks across the globe to exchange messages between them.

Austria Swift Code
The Swift code are grouped according to city or place names arranged alphabetically from A-Z below.

SWIFT code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank.
These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them.

Sl No   Bank Name   City Name   Branch Name   Swift Code
170   GE MONEY BANK GMBH   VIENNA      GECBATWWXXX
171   GENERALI BANK AG   VIENNA      BGENATWWXXX
172   GUTMANN   VIENNA      GUTBATWWXXX

Note: SWIFT is a trademark of S.W.I.F.T. SCRL. S.W.I.F.T. SCRL is headquartered at Avenue Adele 1, B-1310 La Hulpe, Belgium. We are not affiliated with S.W.I.F.T. SCRL in any manner and we are not the official source of SWIFT codes. We are focused on Offshore Bank related information. Please visit the SWIFT website for official information on SWIFT codes.