Glossary of terms commonly used in the Wallet

BIC Code

how to read
How to read in Japanese: BIC Code

The BIC code is a financial institution identification code established by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to identify banks worldwide; it is also called a SWIFT code or SWIFT address and consists of 8 or 11 alphabetic and numeric digits.

BIC codes are generally used for international money transfers between banks, etc. By using BIC codes, the sender of an international money transfer can omit entering the destination bank name, branch name, location, etc., which are normally required.

This makes transfer processing more reliable and faster than usual. If you would like to look up the BIC code of an overseas bank, you can do so on the SWIFT website, “BIC Search”.

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