What are SWIFT and BIC codes?
Last updated 25 August 2016
A SWIFT code is an international bank code that identifies particular banks worldwide. It’s also known as a Bank Identifier Code (BIC). CommBank uses SWIFT codes to send money to overseas banks.
A SWIFT code consists of 8 or 11 characters.
CommBank's SWIFT code is CTBAAU2S. You’ll need to give this code to anyone sending money to you from overseas. The code is made up of letters and numbers as follows:
SWIFT codes and BIC codes are the same thing and the terms are interchangeable. Other terms used by banks overseas include:
- CHIPS (Clearing House Inter-Bank Payment System) – US and Canada only
- NCC (National Clearing Code)
- BSC (Bank Sort Code)
- IFSC (Indian Financial System Code).
If you’re sending money to someone overseas, you’ll need to get the recipients SWIFT in order to do the transfer.
Please note: when entering a SWIFT in NetBank do not enter spaces, hyphens or special characters.