Bank codes are of two types : the national and the International Codes example sort code in the UK, ABA routing code in the US, IFSC code in India etc. SWIFT code , which is used for international transfers. It is also called BIC ( Bank International Code ) and it is an international standard (BIC/ISO 9362). There are Two types of Bank's Code in India which is used to transfer the money from one Bank account to another Bank account. We need to transfer the money using the Bank's codes within country of out side the country. In India we used to Two Types of Code .
Swift Code of Bank in India The swift code is a unique code which is used to internationally fund transfer from one Bank account to another Bank account via the internet. All the Bank have the unique swift code for their Bank Branches. SWIFT CODE : SWIFT (Society for Worldwide Interbank Financial Telecommunication) is also known as BIC (Business Identifier Codes) . Swift code is also called swift number which is the set of 8 or 11 digit which represents the Branch of Bank. When you want to receive or want to send the money at international level than you must need to SWIFT Code.