International money transfers are more common than ever—whether for education, business, or personal reasons. But while transferring funds across borders, many people get confused about the role of IFSC Codes, SWIFT Codes, and IBAN Numbers.
Let’s break it down so you understand when to use each code and how they work together.
The Difference Between IFSC, SWIFT, and IBAN
| Code Type | Used In | Length & Format | Purpose |
|---|---|---|---|
| IFSC (Indian Financial System Code) | India | 11 characters (e.g., SBIN0000456) | Identifies a bank branch within India for NEFT/RTGS/IMPS |
| SWIFT/BIC (Society for Worldwide Interbank Financial Telecommunication) | International | 8–11 characters (e.g., HDFCINBBXXX) | Identifies banks globally for cross-border transactions |
| IBAN (International Bank Account Number) | Europe, Middle East, others | 15–34 characters (varies by country) | Standardizes international account numbers for transfers |
???? In short: For transfers within India, IFSC is key. For international transfers, you’ll need SWIFT and IBAN (not IFSC).
Can IFSC Be Used for International Wire Transfers?
No.
IFSC codes are not valid for international payments. They are only for Indian domestic transfers.
However, if you are receiving an international wire transfer into your Indian bank account, you’ll need:
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SWIFT/BIC Code of your bank.
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Your bank account number (domestic format).
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Beneficiary details (name, address, bank branch).
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Sometimes, the IFSC code is requested for clarity—but settlement always happens via SWIFT.
Example: Sending Money from the US to India
| Step | Details Needed |
|---|---|
| Sender’s Bank | Initiates transfer via SWIFT |
| Receiver’s Bank (India) | SWIFT Code (e.g., SBININBBXXX) |
| Beneficiary Account | Account number + Name |
| Optional | IFSC code of the receiving branch (to avoid confusion in India) |
Tips for Smooth International Transfers
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Always confirm the correct SWIFT code from your bank’s website.
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Double-check the account number and beneficiary name.
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Provide IFSC code additionally if asked—it helps Indian banks locate your branch faster.
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Expect 1–5 working days for completion, depending on banks and countries involved.
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Be aware of transfer fees (both sending and receiving banks may charge).
FAQs on IFSC, SWIFT, and International Transfers
Q1: Is IFSC mandatory for international transfers to India?
???? Not mandatory, but some foreign banks ask for it. The actual settlement is via SWIFT.
Q2: Can I use IBAN instead of IFSC in India?
???? No. India doesn’t use IBAN. Use SWIFT + IFSC (optional) + account details.
Q3: What if I enter the wrong IFSC code for an international transfer?
???? If account number & SWIFT are correct, funds usually reach. Wrong IFSC may cause delays.
Q4: Where do I find my bank’s SWIFT code?
???? On your bank’s website, passbook, or by contacting the branch. Also available on SWIFT Directory.
Swift Directory - https://www.swiftref.com/en/bicsearch