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What is an SWIFT/BIC Code?

SWIFT codes means Society of Worldwide Interbank Financial Telecommunication Code. The Swift/BIC code is used to identify a particular branch of a bank or financial institution & it'll help you to transfer money internationaly and executor for cross-border payments.

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Hungary Information

About Hungary

Hungary is part of the continent of Europe. The Capital of Hungary is: Budapest. Capital timezone is: Europe/Budapest. Currency is: Forint.
Language Codes of Hungary : hu-HU
Languages speak in Hungary : Hungarian (official) 99.6%, English 16%, German 11.2%, Russian 1.6%, Romanian 1.3%, French 1.2%, other 4.2%
ISO Alpha-2 Code of Hungary is : HU
ISO Alpha-3 Code of Hungary is : HUN
ISO 3166-1 numeric (or numeric-3) Code of Hungary is : 348
ISD Code of Hungary is : +36
FIPS (Federal Information Processing System) Code is : HU
E.164 (The international telephone numbering plan) : 36
The top label domain of the Hungary is : .hu
Internet host in Hungary is : 3145000
Internet users in Hungary is : 6176000
Mobile phones in Hungary is : 11580000
Landline phone in Hungary is : 2960000
Area of Hungary is : 93030 KM2
GEO Name ID Hungary is : 719819
GDP of Hungary is : $130600000000

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SWIFT / BIC Code


What is SWIFT/BIC Code?

SWIFT codes are abbreviations for the Society of Worldwide Interbank Financial Telecommunication Code. A SWIFT code is a code that is used to identify the country, bank, and branch of an account. A SWIFT code is also known as a BIC (Bank Identifier Code), but they are the same thing.


Formation of SWIFT Code

The Swift Code is either eight or eleven digits long and a combination of letters and numbers.

  • The first four characters of the swift code are the bank code.
  • The next two digits are the country code.
  • The next two digits are the location code, and
  • The last three digits are optional and aid in identifying the specific bank branch.

Applications of SWIFT Code/BIC Code

The following are some examples of SWIFT or BIC code applications:

  • The Swift/BIC code is used to identify a specific branch of a bank or financial institution.
  • It aids in international money transfers and acts as an executor for cross-border payments.

Example: Breakdown of SWIFT/BIC Code

A

B

C

D

1

2

3

4

5

6

7

Bank Code

Country ISO Code

Location Code

Branch Code
(Optional)

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