SWIFTCode is generally used for power remittance and letter of credit telegrams, which are available in every bank, and is used to quickly process inter-bank telegrams. Big banks like Industrial and Commercial Bank of China and Agricultural Bank of China will also assign Swiftcode with different suffixes to their internal branches.
In this way, if the bank is a well-known bank, such as Bank of China, the other bank can find the corresponding code by querying the Swift code table. Of course, the acquiring bank can provide this code on its own initiative, which can reduce the probability of error.
Extended data:
International code query
To query the SWIFTCode of a bank, the recommended method is:
1, go directly to the bank and ask the staff.
2. You can call for advice.
3. Inquire through the official website of SWIFT:
Accurate search, after entering the website, if you know the SWIFT BICCode or InstitutionKeyword of the bank, you can do a quick search on its information; For example, the key word of BankofChina is Bank of China. If you enter it, you can check the SWIFTCode of Bank of China branches around the world, including the code of Chinese mainland.
Baidu Encyclopedia-Bank International Code