Back to all questions and answers

What is BIC?

BIC is short for Bank Identifier Code. BIC is the bank’s identification number and is also used for international transfers. All banks use BIC, and is typically used for international transfers to banks in countries that don’t use IBAN.

That’s why you need to know the recipient’s local account number and the bank’s BIC when creating an international transfer to a country that doesn't use IBAN.