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When sending money abroad you need to provide the correct beneficiary account information to ensure that your funds arrive efficiently into the correct account. Many international payments will require a BIC and an IBAN.
IBAN (International Bank Account Number) are used mainly in Europe and are only required in IBAN mandatory countries.
BIC (Bank Identifier Code) or sometimes referred to as SWIFT BIC is essentially an individual reference for a Bank or financial institution. Which you may want to think of like an international sort code. Swift codes are used by Banks when sending money or messages between banks across the world.
As mentioned earlier, IBAN's are only required on payments to countries where they are mandatory whereas a SWIFT or BIC code is essential on all international money transfers.
Sending money to a bank account abroad via the SWIFT network ensures that your payment can be traced at any point.
With the correct information an international payment can arrive on the same day (made to Europe or the US from the UK) and within a couple of days to other destinations around the world.
Your payment can be delayed or returned if you do not include the correct beneficiary information. Check the spelling of the account name, and request the correct IBAN and BIC Code. If you are unsure of which SWIFT BIC is applicable you can find which SWIFT code you need here.