A SWIFT code — sometimes also called a SWIFT number — is a standard format for Business Identifier Codes (BIC). Banks and financial institutions use them to identify themselves globally. It says who and where they are — a sort of international bank code or ID.
These codes are used when transferring money between banks, particularly for international wire transfers or SEPA payments. Banks also use these codes to exchange messages between each other.
|Swift code (8 characters)||BOTKCATX|
|Branch name||MUFG BANK, LTD., CANADA BRANCH|
|Branch address||200 BAY STREET, ROYAL BANK PLAZA, SOUTH TOWER, SUITE 1800|
|Bank name||MUFG BANK, LTD., CANADA BRANCH|
Banks and other transfer services have a dirty little secret. They add hidden markups to their exchange rates - charging you more without your knowledge. And if they have a fee, they charge you twice.
TransferWise never hides fees in the exchange rate. We give you the real rate, independently provided by Reuters. Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more, and see the difference for yourself.
|Sending 1000.00 GBP with||Recipient gets(Total after fees)||Transfer fee||Exchange rate(1 GBP → CAD)|
|Cheapest||1698.14 CADSave up to 83.97 CAD||4.39 GBP||1.70563|
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|1698.14 CAD||4.39 GBP||1.70563|
|1645.86 CAD- 52.28 CAD||0.00 GBP||1.64586|
|1636.31 CAD- 61.83 CAD||20.00 GBP||1.66970|
|1627.72 CAD- 70.42 CAD||2.99 GBP||1.63260|
When sending or receiving money, always check the SWIFT code with your recipient or bank.
If you think you've used the wrong SWIFT code to send money, you should get in contact with your bank right away. They may be able to cancel the transaction. If it's too late to cancel, you might have to contact the recipient yourself and request that they return your money.
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A SWIFT code is a set of 8 or 11 digits that represents a bank branch. You’ll need to use one when sending money internationally. Find your SWIFT code here.
Not every bank branch has a SWIFT code, which means you can usually use the code for the bank’s head office.
It depends on the country you're sending money to. In the Eurozone, you'll always need an IBAN and a SWIFT/BIC code. Banks in the USA use SWIFT codes, but they don't use IBANs. It's the same in New Zealand too. More on IBAN numbers.
TransferWise has not carried out any enquiries on the legal standing of any of the banks and financial institutions listed.
TransferWise does not take responsibility or have any liability to you or anyone for any risks that may be associated with these banks or financial institutions or the jurisdictions they operate in, nor any transactions that you or any other person may undertake with these organisations. TransferWise may not provide services in the jurisdiction in question. For a list of our supported countries, please see here.