IFSC Code vs SWIFT Code
What is SWIFT Code?
SWIFT (Society for Worldwide Interbank Financial Telecommunication) code is an international standard code used to identify banks globally for international wire transfers.
Key Differences
| Feature | IFSC Code | SWIFT Code |
|---|---|---|
| Used For | Domestic transfers within India | International transfers worldwide |
| Length | 11 characters | 8 or 11 characters |
| Scope | India only (RBI regulated) | Global (200+ countries) |
| Example | HDFC0001234 | HDFCINBB |
When Do You Need SWIFT Code?
- Receiving money from abroad
- Sending money to a foreign country
- International business payments
Not all branches have SWIFT codes. Only select branches of major banks handle international transfers.