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IBAN vs. SWIFT Code

Understand the difference between IBAN, SWIFT/BIC, Routing Numbers, and local bank codes.

IdentifierMain purpose
SWIFT/BICIdentifies the receiving bank and location for international transfers.
IBANIdentifies a specific bank account under a country's IBAN format.
Routing Number / bank codeRoutes payments through a domestic clearing system.

Not every country uses IBAN. Follow the receiving bank and transfer form requirements.