What are the typical bank details required to initiate an international money transfer?
Typical bank details required to initiate an international money transfer include:
SWIFT/BIC code, also known as Bank Identifier Code (BIC) is an 8-11 alphanumeric code used to identify a bank. You can contact the receiving bank/recipient for the details or use the ‘look up bank’ function in Westpac Online Banking when adding a new payee.
IBAN is an international bank account number. The length ranges from 15 to over 30 alphanumeric characters. IBAN should be provided for all payments to the EU/EEA, UK and some non-European countries including most states of the Middle East, e.g UAE, as well as North Africa and the Caribbean region.
Your beneficiary can provide the IBAN for your transfer or if paying to your own account, your overseas bank can provide these details. Please note that the beneficiary’s account number and full address are required to initiate any international money transfer.
Countries that have specific codes:
ABA routing number also known as Routing Transfer Number (RTN) is a 9-digit code. Used for USA only.
IFSC is an Indian Financial System Code which is an alphanumeric 11-digit code.