the differences between swift code and Bank Code are as follows:

1. Different definitions

SWIFT code is the international code of a bank. Generally used for telegraphic transfer and letter of credit telegrams, which are available in most banks, and are used to quickly handle inter-bank telegrams.

the bank code is the bank code.

2. Different digits

The bank code consists of four English letters. Each bank has only one bank code, which is set by it, usually the first letter of the bank name, and is applicable to all branches.

SWIFT code consists of 11 digits or letters, which can be divided into four parts: bank code, country code, area code and branch code.

take China bank Beijing branch as an example, and its bank identification code is BKCHCNBJ11. It means: BKCH (bank code), CN (country code), BJ (area code), 11 (branch code).

(1) Bank Code: it consists of four English letters, and each bank has only one bank code, which is customized by itself, usually the initials of the bank, and is applicable to all its branches.

(2) Country Code: consists of two English letters to distinguish the country and geographical area where the user is located.

(3) Location Code: it consists of two digits or two letters other than and 1, and is used to distinguish the geographical location of the country, such as time zone, province, state and city.

(4) Branch Code: It consists of three letters or numbers and is used to distinguish a branch, organization or department in a country. If the BIC of a bank has only eight digits and no branch code, its initial value is set as "XXX".

at the same time, SWIFT is also a bank that has not yet joined the SWIFT organization. instead of entering its full bank name, it should write a code in the message according to these rules. All these codes add "BIC" to the last three digits to distinguish them from the SWIFT address codes of the full member banks of SWIFT.

the first four letters of the p>SWIFT code are the bank code.

Extended materials:

1. SWIFT needs membership. Most professional banks in our country are its members.

2. SWIFT has low cost and high speed. For the same amount of content, the cost of SWIFT is only about 18% of that of TELEX, and only about 2.5% of that of CABLE.

3. SWIFT has high security. SWIFT encryption has stronger reliability, higher confidentiality and higher automation than telex encryption.

4. the format of SWIFT is standardized. For SWIFT messages, SWIFT organizations have uniform requirements and formats.

users include three types: members (shareholders), sub-members and ordinary users.

members can enjoy all SWIFT services; Ordinary users only enjoy services related to their business, mainly from the securities industry, such as securities intermediaries, investment management companies, fund management companies and so on.