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Which is the SWIFT / BIC code of Revolut bank?
REVOLT21XXX
Always check with your bank which code you should use.
What is swift code?
SWIFT is the acronym for the acronym “Society for Worldwide Interbank Financial Telecommunication”. It is used to send money internationally as it is required to tell your bank or transfer service where you want to send the money.
It is made up of between 8 and 11 characters, which certify that the money you are going to transfer is received by the correct recipient. We explain their figures:
The first four initials that appear indicate the financial entity to which the provider belongs and represent the initials of the bank's name.
Below are two letters that are used to indicate the country code, in the case of Spain for example, the syllables to use would be ES.
Then, there are two more figures that indicate the location where the bank's headquarters are located. These are obtained through a location code.
Finally, the specific branch associated with your bank account that corresponds to the final digits is indicated.
Why was the SWIFT/BIC code system created?
The SWIFT system was created with the aim of being able to send money internationally in a safe and universal way. In summary, SWIFT forms a messaging network that allows banks to send and receive information electronically and stands out for its standardized format. This is because it prevents confusion between banks in different countries, simplifies and speeds up the payment process, and helps reduce the margin of error.
Who uses the SWIFT code system?
The SWIFT/BIC system is used by more than 200 countries and 11,000 institutions, making it the world's largest international payments network. When the codes are processed, the characters that make up the code are compared with a global database, thus checking where the money transmission should be sent. Probably if you are going to send or receive money from abroad through your bank you will have to indicate the SWIFT or BIC code to be able to do so.
Tips for use
Each bank entity may have a different code that will depend on the type of service they offer, so you must make sure with your bank directly what Swift Code you must use.
You can have your Revolut SWIFT code Within your bank statements, you can also check your online banking, or contact your bank directly.
Do I need to know the SWIFT code of each branch?
Each bank branch has a different code, so if you can't find the branch code, you can use the central office code.
The central office code is usually composed of the bank code, country and the central city, using the XXX digits instead of the branch code.
Where do I find the SWIFT code for Revolut?
You can find the SWIFT code for a foreign bank on some account statements, in your online banking, by consulting your bank's FAQs, or by calling your bank or branch directly.
Do you want to know more about SWIFT codes?
At Fazil, we believe that managing our money does not have to be complicated or difficult to understand. If you want more information about the SWIFT / BIC codes read our guide on what is swift code.
In addition, if you want to make your purchases online without registration costs, maintenance or commissions, we recommend you read our post about free virtual cards to have all the advantages of this type of financial instrument.
