Bic o swift la caixa
The IBAN (International Bank Account Number) comprises the digits that identify a bank account and the institution to which it is associated, regardless of where it is located. It is required to make money transfers or withdrawals in the SEPA (Euro Payments Area) zone.
Although this code is essential for sending payments to other banks, La Caixa warns that it is not necessary to report it in the collection and payment files. The entity is in charge of recalculating it by taking the IBAN of the account.
The BIC (Bank Identifier Code) or SWIFT code is the international banking identification code. It is used worldwide. It consists of 8 or 11 characters (4 indicating the bank code, 2 the country, 2 the locality and 3 the branch code). This code is necessary to be able to issue and receive messages such as transfers, import and export remittances, documentary credits, guarantees, etc.
SWIFT (The Society for Worldwide Interbank Financial Telecommunications) was founded in 1973 in Brussels, supported by 239 banks from 15 countries, with the aim of creating a system for the transmission of secure messages on international financial transactions. The Society currently comprises 7,600 financial institutions with an average daily volume of 10 million messages.
If the second character is «2», then it typically indicates a reverse billing BIC, where the recipient pays for the message as opposed to the more usual way in which the sender pays for the message.
SWIFT standards, a division of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), handles the registration of these codes. Because SWIFT originally introduced what were later standardized as Business Identifier Codes (BICs), they are often called SWIFT addresses or codes.
If, on the other hand, you want to make a payment or transfer outside the European Union, also within the range of an international transfer, the information provided by the IBAN code is not enough. It is also necessary to notify the BIC code of the recipient institution.
There comes a time when young people have to stop keeping their money at home and open a commission-free account. This is the first step towards financial independence, but it also implies the need to take into account basic concepts such as commissions and interest.
However, the main reason why SWIFT is often known is that it is an international code that provides its partners with an encrypted messaging service that enables international funds transfers. SWIFT determines the bank codes that are required to make or receive a cross-border transfer.
The BIC (Bank Identifier Code) or SWIFT code is used to identify the beneficiary bank of a transfer (or destination bank). It is an international alphanumeric code that can consist of 8 or 11 characters: