A SWIFT number is a code your bank uses to receive money from abroad

A SWIFT number (also called a SWIFT code or BIC code) is an 8 or 11-character identifier that tells the sending bank which financial institution should receive your international wire transfer. Think of it like a postal address for your bank in the global payment system. When someone abroad wants to send you money, they give their bank your SWIFT number so the payment reaches your bank, not someone else's.

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It is the messaging system banks use to communicate about international transfers. Every bank that participates in international payments has a SWIFT number. You do not need to do anything to get one — your bank has it automatically, and you can find it by calling your bank or checking your account statements.

The difference between a SWIFT number and other routing information matters. A routing number (also called an ABA number) is used only for domestic transfers within the United States. A SWIFT number is used for transfers crossing borders. If you are receiving money from outside the US, you will need to provide your SWIFT number. If the money is coming from inside the US, you will need your routing number instead.

Key Takeaways

  • A SWIFT number is an 8 or 11-character code that identifies your bank for international wire transfers.
  • You do not need to request a SWIFT number — your bank has one automatically, and you can find it by calling or checking your statements.
  • SWIFT numbers are used only for transfers crossing borders; domestic US transfers use routing numbers instead.
  • When receiving an international wire, you will need to provide your SWIFT number, account number, and account holder name to the sender.
  • A SWIFT number alone is not enough to complete a transfer — the sender also needs your account number and full name.

How to find your bank's SWIFT number

Call your bank's customer service line and ask for your SWIFT number. Most banks can give it to you in under a minute. Have your account number ready when you call, though you usually do not need it to get the SWIFT code.

You can also check your bank's website. Many banks list their SWIFT number in the international wire transfer section or in the FAQ. Search for "SWIFT code" or "BIC code" on your bank's site, or look for a page about sending or receiving international transfers.

If your bank has multiple branches or locations, the SWIFT number is usually the same for all of them. However, some large banks have different SWIFT numbers for different departments or regions. If you are unsure, ask your bank which SWIFT number to give to the sender.

What information the sender needs from you

A SWIFT number alone will not complete a transfer. The sender needs four pieces of information: your full name (exactly as it appears on your account), your account number, your bank's SWIFT number, and your bank's name and address. Some senders may also ask for an IBAN (International Bank Account Number) if your bank is outside the United States.

Give the sender your SWIFT number in the exact format your bank provides it. Do not add spaces, dashes, or extra characters. If the sender enters it incorrectly, the transfer may be delayed or sent to the wrong bank.

Be cautious about who you give this information to. Your SWIFT number and account number are not secret like a password, but you should only share them with people you trust to send you money. Scammers sometimes pose as banks or employers to collect this information, then use it to attempt fraudulent transfers.

SWIFT transfers versus other ways to receive money from abroad

A SWIFT wire transfer is the most common way to receive money from outside the US, but it is not the only way. Some people use PayPal, Wise (formerly TransferWise), or other money transfer services instead. These services often charge lower fees than banks do for international transfers, though the exchange rate may be different.

SWIFT transfers through your bank are usually slower than some alternatives — they can take 3 to 5 business days or longer, depending on the sending country and intermediate banks involved. Money transfer services like Wise sometimes complete transfers in 1 to 2 business days. However, SWIFT transfers are more widely accepted and do not require both parties to use the same service.

If you are receiving regular payments from abroad, ask the sender which method works best for them. Some employers and vendors have preferred payment methods. Your bank can also tell you whether they charge fees for incoming international transfers and what those fees are.

What happens when a SWIFT transfer arrives

When a SWIFT transfer reaches your bank, the money is deposited into your account. The deposit usually appears as a pending transaction first, then clears within 1 to 3 business days depending on your bank's processing schedule. During this time, the funds may not be available to withdraw or spend.

Your bank may charge a fee for receiving an international wire transfer. This fee is typically between $10 and $25, though it varies by bank. Some banks charge nothing for incoming transfers. Ask your bank what they charge before you give someone your SWIFT number, so you know what to expect.

The sender's bank may also charge a fee on their end. This fee comes out of the amount they send, so you may receive slightly less than they intended to send. If this matters for your situation, ask the sender to confirm the amount you will receive after all fees.

SWIFT numbers for different types of accounts

Most checking and savings accounts have the same SWIFT number. However, if you have a business account, money market account, or other specialized account type, your bank may use a different SWIFT number. When you call your bank to get the code, tell them what type of account you are receiving money into, so they give you the correct one.

If you are receiving money into a joint account, the SWIFT number is the same — it identifies the bank and account, not the individual account holder. Both account holders can receive transfers using the same SWIFT number.

Common mistakes when providing your SWIFT number

The most common mistake is confusing a SWIFT number with a routing number. If someone is sending money from outside the US, they need your SWIFT number. If they are sending from inside the US, they need your routing number. Make sure you give them the right one.

Another mistake is providing an incomplete or incorrect SWIFT number. SWIFT codes are 8 or 11 characters long. If you give the sender a number that is too short or too long, or if you include spaces or dashes, the transfer may fail. Double-check the number before you send it.

Some people also forget to provide their account number along with the SWIFT number. The SWIFT number tells the sending bank which bank to use, but the account number tells that bank which account within the bank should receive the money. Without both pieces of information, the transfer cannot be completed.

Frequently Asked Questions

Is my SWIFT number the same as my routing number?

No. A routing number is used for domestic transfers within the US. A SWIFT number is used for international transfers. They are different codes. If someone is sending you money from abroad, ask for your SWIFT number. If they are sending from inside the US, ask for your routing number.

Can someone steal money from my account using my SWIFT number?

A SWIFT number alone cannot be used to steal money. A thief would also need your account number and full name, and they would still need to initiate the transfer through a bank. However, you should not share your SWIFT number with people you do not trust, because it is one piece of information a scammer might use to attempt fraud.

Do I need a SWIFT number to send money abroad?

Yes. When you send an international wire transfer, you need the recipient's SWIFT number, account number, and full name. Your bank will ask for all three pieces of information before they process the transfer.

What if my bank does not have a SWIFT number?

Most banks that accept international transfers have a SWIFT number. If your bank does not, they may not participate in the international SWIFT system, which means you cannot receive international wire transfers through them. Call your bank to confirm whether they can receive international transfers and what information you need to provide.

How long does a SWIFT transfer take?

SWIFT transfers typically take 3 to 5 business days, though some arrive faster and some take longer depending on the sending country, the receiving country, and whether intermediate banks are involved. Weekends and holidays can add extra time. Ask the sender to confirm how long they expect the transfer to take.