What is a SWIFT/BIC code and how does it work? (2026)

Key takeaways:

• A SWIFT/BIC code is the 8–11 character ID that tells international banks where to send your money. The terms SWIFT code and BIC code mean the same thing.

• Every Malaysian bank has its own SWIFT/BIC code. You can find yours on your bank statement, your bank's app or website, or by asking your branch.

• Airwallex offers a faster and lower-cost alternative to traditional SWIFT transfers. With Airwallex, 94% of transfers are routed through local rails instead of SWIFT, which means $0 transfer fees and faster settlement.

A SWIFT/BIC code identifies a specific bank when you send or receive money internationally. Without it, your transfer can't reach the right place.

You'll need a SWIFT/BIC code whenever you pay an overseas supplier, receive funds from a foreign customer, or set up cross-border payment processes. It's the address that the global banking network uses to route your money.

This guide explains what a SWIFT/BIC code is, how to read its 8 or 11 characters, and how it differs from an IBAN. You'll also see the SWIFT/BIC codes for major Malaysian banks, plus what to do if a transfer goes wrong.

What is a SWIFT/BIC code?

A SWIFT/BIC code is the unique 8 or 11-character identifier that tells international banks where to send your money. Every bank that takes part in the SWIFT network has one.

Here’s what the two terms mean:

• SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication — the cooperative that runs the global financial messaging network.

• BIC stands for Business Identifier Code — the format of the actual code itself.

In practice, banks use the terms interchangeably.

SWIFT was founded in 1973¹ to give banks a standard way to talk to each other across borders. It's headquartered in Belgium and owned cooperatively by its members. Today, the SWIFT network connects more than 11,500 banks and financial institutions across over 200 countries and territories².

When you make an international transfer, your bank uses the SWIFT network to send a secure message to the recipient's bank. The SWIFT/BIC code in that message tells the network exactly which bank to send the money to.

Is a BIC the same as a SWIFT code?

Yes. BIC and SWIFT code refer to the same identifier. Some banks call it a SWIFT code. Others call it a BIC. A few use both ("BIC/SWIFT code"). Whatever the label, the code itself is identical and serves the same purpose: identifying a specific bank for an international transfer.

How does a SWIFT/BIC code work?

Every SWIFT/BIC code follows the same structure. Once you know how to read it, you can tell which bank, country, city, and (sometimes) branch the code points to.

A SWIFT/BIC code is either 8 or 11 characters long. The 8-character version identifies the bank's head office. The 11-character version adds a 3-character branch identifier at the end.

The four parts of a SWIFT/BIC code

Worked example: Maybank's SWIFT/BIC code

Maybank's SWIFT code is MBBEMYKL³. Broken down:

• MBBE — Maybank (Malayan Banking Berhad)

• MY — Malaysia

• KL — Kuala Lumpur

That's the 8-character version, which routes payments to Maybank's head office. If you ever see MBBEMYKLXXX, the XXX at the end is just a placeholder confirming the head office — the payment goes to the same place.

When your bank sends an international transfer, it uses this code to tell the SWIFT network exactly which bank should receive your money. The country code and location code help the network route the message efficiently. The branch code, when used, helps the receiving bank credit the funds to the right department.

SWIFT/BIC code vs IBAN: What's the difference?

People often confuse SWIFT/BIC codes with IBANs. They work together on international transfers, but they identify different things.

A SWIFT/BIC code identifies the bank. An IBAN identifies the specific account at that bank. Some countries — especially in Europe and the Middle East — require both for international transfers. Malaysia doesn't issue IBANs.

Here’s a quick overview: 

An IBAN starts with a two-letter country code (such as GB for the United Kingdom or DE for Germany)⁶, followed by two check digits, then a longer string of letters and numbers that identifies the bank and account.

What about sort codes and routing numbers?

These are domestic codes, not international ones. Don't confuse them with SWIFT/BIC codes.

• Sort code: A 6-digit code used in the United Kingdom and Ireland to route domestic payments between banks⁵.

• Routing number: A 9-digit code used in the United States for domestic transfers via Fedwire and CHIPS⁷.

If you're sending money internationally to a UK or US account, you'll usually need the SWIFT/BIC code as well — the sort code or routing number alone isn't enough.

When do you need a SWIFT/BIC code?

You need a SWIFT/BIC code any time money moves between banks in different countries. Most domestic transfers in Malaysia don't need one: DuitNow, IBG, and Instant Transfer all work with local account numbers.

For international payments, the SWIFT/BIC code tells the network which bank to send your money to. Without it, the transfer either gets delayed, returned, or sent to the wrong bank.

Common situations where you'll need a SWIFT/BIC code

• Sending money overseas. Your bank will ask for the recipient's SWIFT/BIC code so it can route the payment to the correct foreign bank.

• Receiving payments from abroad. Overseas clients or employers will ask for your bank's SWIFT/BIC code so they can send you money.

• Paying international suppliers. Most B2B cross-border invoices include the supplier's SWIFT/BIC code in the payment instructions.

• Setting up payroll or vendor payments in another country. Foreign banks often need your SWIFT/BIC code to establish the payment connection.

• Opening a foreign currency account. Some banks ask for your home bank's SWIFT/BIC code as part of the setup.

What happens if you use the wrong SWIFT/BIC code?

Using the wrong code can cause one of three things:

• The transfer is rejected and returned to your account. Your bank usually charges a return fee, and the foreign bank may charge one too.

• The transfer is delayed while banks investigate where the money should go. Delays of several days are common.

• The transfer goes to the wrong bank. Recovering the money is possible but slow, and there's usually no guarantee.

Always double-check the SWIFT/BIC code with the recipient before you send. If you're unsure, ask the recipient to confirm it directly with their bank.

How long does a SWIFT transfer take?

A typical SWIFT transfer takes one to five business days to arrive. The exact time depends on:

• The number of intermediary banks involved

• The currencies being exchanged

• Cut-off times at each bank

• Local public holidays in the sender's, receiver's, and any intermediary's country

Some banks now offer faster international transfers using SWIFT gpi (Global Payments Innovation), which can settle within minutes for supported corridors. But most standard SWIFT transfers still take a day or more.

Want faster international transfers? Airwallex routes 94% of its transfers via local payment rails (not SWIFT), resulting in faster settlement. 93% of our transfers arrive on the same day, and 45% arrive immediately. Learn more about Airwallex Transfers or sign up for free.

Common Malaysian bank SWIFT/BIC codes

If you're sending or receiving an international transfer, you'll need the SWIFT/BIC code of the right Malaysian bank. The table below lists the codes for major banks operating in Malaysia, taken directly from each bank's own website.

Some banks operate both a conventional and an Islamic banking arm. Each arm has its own SWIFT/BIC code, so make sure you use the right one:

The information in this table has been reviewed to be accurate as of 12 May 2026.

Note that some banks publish their SWIFT/BIC code in the 11-character format with XXX at the end (for example, MBBEMYKLXXX or OCBCMYKLXXX). The XXX simply confirms the head office. Both the 8-character and 11-character versions route to the same place, so you can use either.

Bank SWIFT/BIC codes change occasionally — for example, when banks merge or restructure. Before you send a large transfer, confirm the code directly with your recipient or on the bank's official website.

How to find your SWIFT/BIC code

If you can't find your bank's SWIFT/BIC code in the table above, there are several reliable places to look:

Check your bank statement

Most Malaysian banks print the SWIFT/BIC code on your monthly bank statement, usually near the bank's address or in the international payment details section. If you receive electronic statements, open the most recent PDF and search for "SWIFT" or "BIC".

Log in to your online banking or mobile app

Most banks list the SWIFT/BIC code in the account details section of their app or online banking portal. Look under headings like "International transfers", "Receiving funds from overseas", or "Account information".

Visit your bank's official website

Search the bank's website for "SWIFT code" or "telegraphic transfer". Most banks list the code on their international transfer or remittance pages. Stick to the bank's own website rather than third-party listings.

Ask your bank directly

If you can't find the code, call your bank's customer service line or visit a branch. They can confirm the code and tell you whether you need the 8-character or 11-character version for your specific transfer.

A note on third-party SWIFT/BIC finders

You may come across websites that offer SWIFT/BIC code lookup tools. Some are accurate, but others are out of date or include errors. If you do use one, cross-check the result against your recipient's bank directly before sending money.

Skip SWIFT fees by using Airwallex

For international payments, local payment rails are almost always a better option than SWIFT.

They settle faster — often the same day or within minutes. They cost less, with no intermediary bank fees stacking up along the route. And they're simpler to set up, with no SWIFT codes, no IBANs, and no chasing transfers stuck in the middle.

That's where Airwallex comes in. 94% of Airwallex transactions go through local rails instead of SWIFT, with $0 transfer fees. 93% of transactions arrive on the same day, and 45% arrive immediately.

Here’s what you get with Airwallex:

• Faster, lower-cost international transfers. Send money to 200+ countries, with 94% of transfers routed through local rails with $0 transfer fees. You see the exchange rate and fees upfront, with no surprise intermediary charges.

• Accept international payments. Take card and local payment method payments from customers in 180+ countries. 

• Hold and convert on your terms. Keep funds in 20+ currencies, with no forced settlement in RM. This avoids the double conversion that often comes with SWIFT transfers.

• Save up to 80% on FX rates. If you do want to convert your money, you get access to highly competitive FX rates that save you up to 80% on FX fees compared to traditional banks.

Frequently asked questions (FAQs)

Is a SWIFT code the same as a BIC code?

Yes. SWIFT code and BIC (Business Identifier Code) refer to the same 8 or 11-character bank identifier. Some banks call it a SWIFT code, others call it a BIC, and many use both labels together as "SWIFT/BIC code". Whichever term you see, you only need to provide one code.

Do all banks have a SWIFT/BIC code?

Most large banks have a SWIFT/BIC code, but not every financial institution does. Some smaller banks and credit unions don't connect to the SWIFT network directly and rely on partner banks to process international transfers for them. If a bank doesn't have its own SWIFT/BIC code, ask which intermediary bank's code to use instead.

Can I send money internationally without a SWIFT/BIC code?

Usually no — most international bank transfers require a SWIFT/BIC code to route the payment. The main exceptions are platforms that use local payment rails instead of the SWIFT network. Airwallex, for example, routes most cross-border transfers through local rails, which means you often don't need a SWIFT code at all.

Is the SWIFT/BIC code the same for all branches of a bank?

It depends on the bank. Some banks use one SWIFT/BIC code for every branch, while others assign a separate 11-character code to specific branches. If the code ends in XXX, that's the head office code, which works for most transfers. When in doubt, confirm the correct branch code with your recipient.

Does it cost money to use a SWIFT/BIC code?

The SWIFT/BIC code itself is free, but sending money through the SWIFT network usually isn't. Your bank will charge an outgoing transfer fee, the receiving bank may charge a fee, and intermediary banks along the route can deduct their own charges from the amount sent. This is why a SWIFT transfer often arrives smaller than expected.

Why do banks ask for both an IBAN and a SWIFT/BIC code?

The two codes do different jobs. The SWIFT/BIC code identifies the bank, while the IBAN identifies the specific account inside that bank. For transfers to most countries in Europe and the Middle East, banks ask for both so the payment reaches the right account at the right institution.

Sources:

1. https://www.swift.com/about-us/legal/compliance-0/swift-and-sanctions

2. https://www.swift.com/about-us/discover-swift

3. https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/services/branches/foreign_telegraphic_transfer.page

4. https://www.anz.com.au/support/international-services/

5. https://www.anz.com.au/support/business/internet-banking/getting-started/glossary/

6. https://www.cimb.com.my/en/personal/help-support/forms-fees-rates/swift-codes.html

7. https://www.rhbgroup.com/contact-us/

8. https://www.hlb.com.my/en/personal-banking/help-support/contact-us.html

9. https://www.business.hsbc.com.my/en-gb/help/global-money-transfers

10. https://www.sc.com/in/help/swift-codes/

11. https://www.uob.com.my/personal/help-and-services/contact-us/branches.page

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn. Bhd., a company incorporated under the laws of Malaysia with company registration number 201801007747 (1269761-X), is regulated as a licensed remittance business under the Money Services Business Act 2011 (Licence number 00743 with an expiry date of 3 August 2028, an E-Money Issuer and a registered merchant acquirer under the Financial Services Act 2013.