What is a SWIFT code?
A SWIFT code (or BIC code) is a unique code that identifies financial and non-financial institutions and is mainly used for international wire transfers between banks.
The downside of international transfers with you bank
Banks use SWIFT for international transfers, but it's not the most efficient or cost-effective solution as you
you might get a bad exchange rate and pay high fees. We recommend using Wise, formerly TransferWise, which is up to 5x cheaper and gives you a great rate.