Understanding the SWIFT Code format
SWIFT codes follow a standardized format of 8 or 11 characters that identify banks worldwide. Here's how they break down:
- 01Bank Code: 4 letters representing the bank, often resembling an abbreviation of the bank’s name.
- 02Country Code: 2 letters representing the country (ISO standard code).
- 03Location Code: 2 letters or digits identifying the bank’s city or location.
- 04Branch Code: 3 letters or digits (optional) identifying a specific branch. XXX denotes the bank’s primary office.
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