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What are BIC and SWIFT Codes in Banking?

Updated:  · 10 min read

When dealing with international transactions, it's common to encounter terms like BIC and SWIFT codes. But exactly what are BIC and SWIFT codes in banking, and are they different?  These unique identifiers play a crucial role for any business working with international transactions. They ensure that money is securely and accurately transferred and minimise the risk for both the business and its customers. Let’s explore these terms in more detail.

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