IBANIBAN, SWIFT code and IFSC: what is the difference?
These three codes are often asked for on the same form, and they are easy to mix up. In short: an IBAN names an account, a SWIFT code names a bank anywhere in the world, and an IFSC names a bank branch in India.
| Code | What it names | Length | Where it is used |
|---|---|---|---|
| IBAN | One bank account | 15 to 33 characters, fixed for each country | 89 countries, mostly in Europe and the Middle East |
| SWIFT code (BIC) | A bank, and sometimes a branch | 8 or 11 characters | International transfers worldwide |
| IFSC | A bank branch in India | 11 characters | Transfers inside India (NEFT, RTGS, IMPS) |
IBAN
The IBAN holds the country, the bank and the account number in one code with built-in check digits. Inside the Single Euro Payments Area a euro transfer needs nothing else. How an IBAN is built.
SWIFT code, also called BIC
BIC means Business Identifier Code. It is laid out as four letters for the bank, two letters for the country, two characters for the location, and three optional characters for a branch. A SWIFT code tells the sending bank where to send the money; it says nothing about which account. So an international transfer needs the SWIFT code and an account identifier (an IBAN where the country uses one, otherwise the plain account number).
IFSC
The Indian Financial System Code has 11 characters: four letters for the bank, then a zero, then six characters for the branch. It is printed on cheque leaves and passbooks. It is used for transfers within India and is not an international code.
Receiving money in India from abroad
Indian banks do not issue IBANs. A sender abroad is normally asked for the account holder's name as in the bank records, the account number, the bank's SWIFT code, and the bank and branch name. Many banks also want the IFSC and a purpose for the payment. Each bank publishes its own inward remittance instructions, so ask your bank for the exact details before you share them.
Sending money from India to an IBAN country
The form will ask for the receiver's IBAN and usually the SWIFT code of their bank. Copy the IBAN exactly; you can check it for typing mistakes here first.
Checked in November 2026. This page explains the codes in general. It is not financial advice; fees, limits and required details are set by your bank, so confirm with the bank before a transfer.