SWIFT/BIC codes in Ghana 🇬🇭

What is a BIC code?

A SWIFT/BIC code is a standard format to uniquely identify banks, non-financial, and financial institutions globally. The SWIFT code is a standard format for Business Identifier Codes (BIC).

If you transmit money across international lines you nearly always need to use a SWIFT/BIC code, as it’s the way banks and money transfer services identify where to send money on a global scale. You can think of a BIC code a bit like a ZIP/postal code. A bank on one side of the world finds the right bank on the other side of the world. Similar to how sending a postcard to an incorrect ZIP code means it might go missing, the same thing can apply for your money and an incorrect SWIFT code.

What does a BIC look like?

A SWIFT/BIC code can be either 8 or 11 characters long:

AAAA BB CC DDD

• AAAA: 4 character bank code. Only letters.
• BB: 2 character country code. ISO alpha-2 country code.
• CC: 2 character location code.
• DDD: 3 character branch code. Optional. Can include letters or digits. An XXX here would refer to the primary office.

More info about SWIFT/BIC codes

There are 2 types of SWIFT code: live and passive. Live codes are for institutions who are connected to the SWIFT network while passive Codes are used for manual transactions. Passive SWIFT codes will have a 1 as the second digit of the 2 character location code.

SWIFT code registrations and management are the responsibility of "Society for Worldwide Interbank Financial Telecommunication" (“SWIFT”) which is located in La Hulpe, Belgium.

SWIFT is the registered trademark of S.W.I.F.T. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium.