Emerio Banque SWIFT Code: EMEIGB22
Authentic and secure transactions across nations.
SWIFT CODE is a unique identifier that an account holder uses to identify the particular country, bank and branch of another account holder where the account is registered. In simple words, it is a form of bank identification.
This international bank code plays an important role in bank transactions across nations. EmerioBanque uses its SWIFT CODE to send money to overseas banks. Swift code provides standard authenticity to a bank transaction.
A SWIFT CODE usually consists of 8-11 digits or characters which are arranged in a unique manner. To make you understand better, let’s take the example of EmerioBanque SWIFT CODE: EMEIGB22
General characteristics of Swift Code:
The first 4 characters are used to identify the bank.
The next 2 characters are used to describe the particular country.
The next 2 characters can be a combination of both numbers and letters for identifying the town i.e., location-based codes.
The last 3 characters identify the particular branch of the bank.
Is A BIC Code And A SWIFT CODE Same?
Yes, SWIFT CODEs are also known as BIC (Bank Identifier Code). They both are the same thing and the terms are interchangeable. Because BIC Codes are managed by The Society for Worldwide Interbank Financial Telecommunication (SWIFT), they are also called SWIFT CODEs.
Is A SWIFT CODE And An IBAN Code Same?
No, They are different from each other and used to identify different things. A SWIFT CODE is used to identify a particular bank, country, and branch during an international transaction while an IBAN Code ((International Bank Account Number) used to identify the individual account in any individual transaction. They consist of a unique combination of both numbers and letters up to 34 characters and are being used worldwide. IBAN and Swift both play an important role in the safe execution of international money transfer.
SWIFT CODEs and BIC Codes are the same things but there are many other terms which are being used by banks overseas, for example:
CHIPS (Clearing House Interbank Payment System)
NCC (National Clearing Code)
BSC (Bank Sort Code)
How Does The SWIFT System Work?
Before understanding how these SWIFT CODEs work, you need to understand that it does not transfer actual funds from one bank to another, rather it sends messages requesting payments between the concerning banks or financial institutions in different nations. In simple words, it is a messaging network that banks use to transfer information and instructions safely through a standardized system of codes.
SWIFT payments are the safest, secure, and authentic methods to send and receive funds from one country to another. It provides a quicker and faster way to conduct an international wire transfer.