|BOHIFMP1||BANK OF HAWAII - POHNPEI BRANCH||POHNPEI||(KOLONIA)|
A SWIFT code, also commonly known as a BIC Code, is a standard format to uniquely identify all banks and financial institutions globally. The SWIFT code is a standard format for BIC - Business Identifier Codes.
If you transfer money internationally you almost always need to use a 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 SWIFT code a bit like an international postal code. Your bank can use the SWIFT code to find another bank on the other side of the world. Like sending post to the wrong ZIP/postal code means it may get returned, the same applies for your money and an incorrect SWIFT code.
A SWIFT/BIC code is either 8 or 11 characters in length:
AAAA BB CC DDD
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.