Find out when it’s possible to send an international money transfer without a BIC (Business Identification/Identifier Code) and when you need one to make moving money abroad simple.
We aim to help you transfer money to loved ones around the world in a way that suits you. Whether you wish to send a gift for a birthday or provide support for paying bills, Western Union are on hand to help.
Here, we provide insight into when a BIC code is and isn’t required for carrying out international money transfers. Send joy to almost any place with ease.
In this article
- Can you send money abroad without a BIC?
- Where to find the BIC
- What does BIC mean?
- Other ways to send money abroad without a BIC
- FAQs and guides
Can you send money abroad without a BIC?
Yes, if you’re sending money abroad within the European Economic Area (EEA) you don’t need the BIC for international money transfers. You’ll need an IBAN (International Bank Account Number) , which is sufficient for domestic money transfers and those made to EEA countries from Germany. Some countries outside the EEA are also included in this rule, meaning you can send money to loved ones in certain areas with only an IBAN. For money transfers to most other countries outside the EEA, the BIC is required alongside the IBAN to help you quickly and easily send electronic money transfers to international receivers. Attempting to make an international money transfer without an IBAN and BIC to a non-EEA country could see the payment rejected. The IBAN is a mandatory requirement for money transfers made domestically and internationally from Germany. A German IBAN number is always 22 characters long and starts with the country code ‘DE’. A two-character digit follows, then your national account number, which includes your sort code and account number.Where to find the BIC
Banks in Germany and the EEA all have BICs, but customers don’t always need to know them. Although you don’t need the BIC for international money transfers within the EEA or for domestic payments in Germany, you still may need to know the code. If so, you can locate it in a few different ways. Find your BIC by checking your:- Account information via online banking.
- Account statements – either digital or paper versions.
- Bank account number.
- A search tool – enter your bank location and country.
What does BIC mean?
BIC stands for Bank Identification (or Identifier) Code. You have to specify the individual bank for international money transfers, which is the purpose of a BIC. This code can be either eight or 11 characters long. It acts as a unique number for your bank and helps your money arrive in the location you intend.Differences between BIC and SWIFT
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) is a system that facilitates secure international money transfers. SWIFT is the system itself and a BIC is the code the system uses. However, the terms BIC and SWIFT are often used synonymously. So, when you read BIC or SWIFT code, or if you ask for either of them, you’ll be given the same code either way. Different banks or financial institutions may refer to this code in different ways. Common uses include:- BIC code.
- SWIFT code.
- BIC/SWIFT code.
- SWIFT/BIC code.
- SWIFT ID.
- Four-character bank code – essentially an abbreviation of the bank name.
- Two-character country code.
- Two-character head office location code.
- Optional three-character branch code.
Other ways to send money abroad without a BIC
International money transfers are possible without using a BIC with Western Union. We help you send money to loved ones around the world in a way that’s simple and convenient for you and your receiver. If you send money online using our services, you can select how you want it to arrive. Globally, we have hundreds of thousands of Western Union agent locations1, so it’s possible for your receiver to pickup from a branch close to home. Alternatively, in some countries, your loved one could receive the money transfer directly to their mobile wallet2.FAQs and guides
- How to transfer money from a credit card to an account
- What is the foreign transfer reporting obligation
- How to send money abroad
- How to get an account number from IBAN
1 Agent location count valid as of Agent location count valid as of 31 December 2021.
2 Funds may be delayed or services unavailable based on certain transaction conditions, including amount sent, destination country, currency availability, regulatory issues, identification requirements, Agent location hours, differences in time zones, or selection of delayed options. For mobile transactions funds will be paid to receiver’s mWallet account provider for credit to account tied to receiver’s mobile number. Additional third-party charges may apply, including SMS and account over-limit and cash-out fees. See the transfer form for restrictions.