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What does BIC mean?
The Business Identifier Code, or BIC for short, is used both internationally and nationally to identify a bank. Also known as SWIFT-BIC, SWIFT ID or SWIFT code, it is assigned by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The BIC and IBAN can be used to identify the recipient of a bank transfer anywhere in the world. In Germany, the BIC has replaced the previously used bank identifier code (BLZ).
Composition of a BIC
A BIC or SWIFT code consists of a combination of eight or eleven letters and numbers. The first four letters can be freely chosen by the bank as its identifier. The following characters contain the country code (for Germany, this is “DE”) and a location code, plus optionally a branch code.
Where can I find my BIC?
You can find the BIC and IBAN on every account statement or, in the case of online banking, in the account details. Sometimes these important data also appear on your card. The BIC/SWIFT code of Wirecard Bank is WIREDEMM.