The acronym SWIFT lives up to its name. Short for “Society for Worldwide Interbank Financial Telecommunication,” it’s a network that permits financial institutions around the world to securely send and receive financial information - usually within 1-2 business days.
To be sure your money gets to the correct bank account, every bank has its own individual code. Think of it a bit like like a zip code. Some banks call them SWIFT codes, while others use the term BIC (Bank Identifier Code). You’ll need to make sure you’re using the correct BIC/SWIFT Code, otherwise your transfer will fail.
The SWIFT/BIC Code for Chase Bank, short for JP Morgan Chase Bank, is CHASUS33.
Maybe you want to make an international wire transfer to a Chase account. Or maybe you want money from abroad sent to your own account. Either way, you’ll need to know the following details.
|Bank Name||JP Morgan Chase Bank|
|SWIFT/BIC Code for Chase Bank||CHASUS33|
|Bank address, city & state||Chase Bank, 270 Park Avenue, New York, NY 10017, USA|
|Beneficiary Account Number||Complete Chase Bank bank account number of the recipient (including leading zeros)|
|Beneficiary Name||The name of recipient’s account as it appears on a bank statement|
It’s pretty straightforward: the SWIFT/BIC code is its own set of numbers to identify banks and other financial institutions. It’s just like an area code or postcode to ensure that money ends up in the right place.
Knowing the right SWIFT/BIC code is key to guaranteeing international smooth wire transfers, both to and from your Chase Bank account.
A SWIFT code is actually a few different parts and consists of 8-11 characters:
- AAAA - Bank Code
- BB - Country Code
- CC - Location Code
- DDD - Optional Branch Code
A SWIFT/BIC code is just used to identify a specific bank used during an international transfer. An IBAN, on the other hand, is used to identify an individual account on both the incoming and outgoing ends of the transfer.
An IBAN (International Bank Account Number) is made up of a code that identifies the country of the account holder, their bank and the account number itself. It’s basically a more simplified equivalent of a US bank account number.
You’ll see them used for all bank accounts within the European Union, plus at a handful of other countries in Europe such as Norway, Switzerland, Liechtenstein and Hungary. More and more countries are using them over time.
Indeed, different branches of banks have different SWIFT Codes. As long as you know the correct postal address of the bank branch you need to send money to, you can find the SWIFT code for your specific Chase Bank branch online.
An international SWIFT transfer can be a bit on the pricey side. But fear not, there are alternatives.
Consider using TransferWise for a cost-saving solution to your international transfer needs. Almost always regular banks and money transfer services take a cut from the exchange rate they advertise. In other words, that rate you’ll find on Google isn’t the same one your provider will offer you. However, TransferWise always offers the real mid-market rate in order to guarantee that you receive what your money’s worth on the international market.
Not only that: when you turn to TransferWise, the transaction will be free of international bank fees along the way. TransferWise operates using local banks in the local banking system -- eliminating the need for costly intermediary bank fees. The fee you see is the fee you’ll be charged, with no surprises at the end.
It’s also secure: TransferWise is licensed and regulated just like any financial institution that relies on strong encryption in order to keep its users’ information secure.