A bank swift code is an international standard for identifying banks and financial institutions across the world. The code consists of 8 or 11 characters, which are broken down into two sections: the country code and the bank identifier. For example, ACLRAU2S242 is the swift code for AUSTRACLEAR LIMITED Australia+. Each country has its own unique set of codes, so it’s important to use the correct one when transferring money internationally.
|SWIFT Code / BIC||ACLRAU2S242|
|Money Transfer||Transfer money using Wise internationally, that is 6X cheaper than Banks.|
|Receive Money||Get paid/money using Wise at real Exchange Rate.|
|Branch Name||(BKO 242)|
ACLRAU2S242 SWIFT Code Breakdown
|Bank Country Code||AU|
|Location & Status||2S|
What is a Swift Code
Swift or SML language is used to develop codes that are used by banks to perform various operations. Swift code is a 8 or 11 digit numeric number that helps to identify the banks. This code is easily recognized by banks worldwide, and helps in processing transactions. Swift code is linked with customer’s account number and also helps in processing of online payments and other banking operations. Swift code can be also used for International Bank Account Number (IBAN). Swift code is used for the electronic transfer of fund from one account to another account.
- First 4 (four) characters – bank code (only letters)
- Second 2 characters – ISO 43896-1 Alpha-2 country code (only letters)
- Third 2 characters – location code, passive participant will have “1” in the second character (letters & digits)
- Last/fourth 3 characters – Branch code, optional – ‘XXX’ for primary office (letters and digits). For example: 242.
AUSTRACLEAR LIMITED SYDNEY SWIFT/BIC Code
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