BANKING AFFAIRS

Detailed explanation-1: -How many codes are there in SWIFT code? Explanation: The Swift code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office and 11 digits code refers to branch office.

Detailed explanation-2: -SWIFT code, also known as BIC code A SWIFT code is used to identify worldwide banks. It is made up of 8-11 characters and is commonly known as a Bank Identifier Code or BIC. Around the world, other banks may refer to a SWIFT or BIC code as CHIPS, NCC, BSC or IFSC.

Detailed explanation-3: -A SWIFT/BIC is an 8-11 character code that identifies your country, city, bank, and branch. Bank code A-Z 4 letters representing the bank. It usually looks like a shortened version of that bank’s name. Country code A-Z 2 letters representing the country the bank is in.

Detailed explanation-4: -Again, there’s actually just one SWIFT Code for the entire bank and that’s the Head Office BPI SWIFT Code, which is BOPIPHMM. For BPI Family Savings Bank, the SWIFT Code is also BOPIPHMM.

Detailed explanation-5: -The BIC is an 8 character code, defined as ‘business party identifier’, consisting of the business party prefix (4 alphanumeric), the country code as defined in ISO 3166-1 (2 alphabetic), and the business party suffix (2 alphanumeric).