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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Panama Information

About Panama

Panama is part of the continent of North America. The Capital of Panama is: Panama City. Capital timezone is: America/Panama. Currency is: Balboa.
Language Codes of Panama : es-PA,en
Languages speak in Panama : Spanish (official), English 14%
ISO Alpha-2 Code of Panama is : PA
ISO Alpha-3 Code of Panama is : PAN
ISO 3166-1 numeric (or numeric-3) Code of Panama is : 591
ISD Code of Panama is : +507
FIPS (Federal Information Processing System) Code is : PM
E.164 (The international telephone numbering plan) : 507
The top label domain of the Panama is : .pa
Internet host in Panama is : 11022
Internet users in Panama is : 959800
Mobile phones in Panama is : 6770000
Landline phone in Panama is : 640000
Area of Panama is : 78200 KM2
GEO Name ID Panama is : 3703430
GDP of Panama is : $40620000000

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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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