BIC Checker FAQs

Question 1

What is a BIC, and is it the same as a SWIFT code?

Accepted Answer

BIC stands for Business Identifier Code. It identifies a bank or another institution and is commonly called a SWIFT code. A BIC identifies the institution, while an IBAN identifies a particular bank account. Using a BIC does not necessarily mean a payment is sent through the SWIFT network.

Question 2

What is the difference between an eight-character and an eleven-character BIC?

Accepted Answer

An eight-character BIC identifies the institution. An eleven-character BIC adds a three-character identifier for a particular branch, department or service. The ending XXX commonly represents the primary office. Use the BIC provided by the receiving bank rather than adding or changing branch characters yourself.

Question 3

What does this BIC checker verify?

Accepted Answer

The tool checks the code’s format and looks for matching institution information in its reference data. Where available, the result shows the institution’s name, country, registered address and related eight-character and eleven-character BICs. It does not verify an individual account or its owner.

Question 4

Why does Persia Money use BICs for SEPA transfers?

Accepted Answer

We use BICs to identify institutions and help verify bank details alongside the IBAN when processing SEPA transfers. Customers generally do not need to provide a BIC separately for standard SEPA transfers under the IBAN-only approach. The BIC supports our bank-detail checks; it does not replace the recipient’s IBAN.

Question 5

Does a successful BIC check mean the bank can receive my SEPA transfer?

Accepted Answer

No. A successful lookup means the code matches institution information in the tool’s reference data. It does not by itself confirm participation in SEPA Credit Transfer or SEPA Instant, the receiving account’s eligibility or that a payment will be accepted. The public BIC checker also does not check the recipient’s name; the app performs separate recipient-name checks when you make a transfer.

Question 6

Does Persia Money support international SWIFT payments?

Accepted Answer

No. Persia Money does not currently support international SWIFT payments. We use BICs to support SEPA transfers and verify bank details. The term “SWIFT code” is included because it is a common name for a BIC; it does not mean we offer payments through the SWIFT network.

Question 7

Why might my BIC not be recognised?

Accepted Answer

The code may have an incorrect length, contain an invalid character or be missing from our reference data. A code that is not found is not necessarily invalid. Check the BIC against the receiving bank’s official website, app or statement, and contact us if the details appear correct.

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