Bank SWIFT or BIC Code: What It Is, List of Codes, and How to Find It

If your company handles cross-border payments, whether for suppliers, clients, or employee salaries, you’ve likely encountered the term "SWIFT code."

But what exactly is it, and why is it essential? SWIFT code is like the GPS for your international transactions, guiding payments to the right bank.

This article will explain how SWIFT codes work, their importance, and how they can save your business from costly errors.

What is a SWIFT Code?

A SWIFT code, also known as a Bank Identifier Code (BIC), is a unique combination of letters and numbers that helps identify specific banks in international transactions.

It‘s like an address for banks. When you send money overseas, the SWIFT code tells the system exactly which bank to deliver the money to, anywhere in the world.

The SWIFT system (short for the Society for Worldwide Interbank Financial Telecommunication) is a secure messaging network that banks use to communicate payment instructions.

It doesn’t physically transfer the money. Instead, it sends payment orders between banks, ensuring funds are routed correctly.

Structure of a SWIFT Code

A typical SWIFT code consists of 8 to 11 alphanumeric characters. Each part of the code holds specific information:

Bank Code (4 characters): Identifies the bank. For example, “MBBE” for Maybank.
Country Code (2 characters): Shows the country of the bank, like “MY” for Malaysia.
Location Code (2 characters): Indicates the bank’s head office location.
Branch Code (3 characters, optional): Specifies a particular branch. If omitted, it refers to the main office.

For example: MBBEMYKLXXX

MBBE = Maybank
MY = Malaysia
KL = Kuala Lumpur
XXX = Main Branch

If you’re dealing with the main office, the branch code might be left out, making it an 8-character code instead.

How to Find a Bank's SWIFT Code

Finding the right SWIFT code is easy if you know where to look. Common ways to find one are:

Bank’s Official Website

Most major banks in Malaysia, like Maybank or CIMB, list their SWIFT codes under the ‘International Banking’ or ‘FAQ’ sections.

Bank Statements

If you have company bank statements, the SWIFT code might be printed alongside your account details.

Customer Service

When in doubt, call your bank’s customer service hotline. They can provide accurate, up-to-date information.

Online SWIFT Directories

Websites like the official SWIFT directory allow you to search for any bank’s code worldwide. Just make sure to use reputable sources to avoid outdated or incorrect information.

List of SWIFT Codes Malaysian Employers Frequently Search For

Here are some of the most commonly searched SWIFT codes by Malaysians:

Malaysia

Maybank (Malayan Banking Berhad) - MBBEMYKL
CIMB Bank - CIBBMYKL
Public Bank Berhad - PBBEMYKL
RHB Bank - RHBBMYKL
Hong Leong Bank - HLBBMYKL
Bank Islam Malaysia - BIMBMYKL
Bank Negara Malaysia - BNMYMYKL
HSBC Bank Malaysia - HBMBMYKL
Standard Chartered Bank Malaysia - SCBLMYKX
UOB Malaysia - UOVBMYKL
OCBC Bank Malaysia - OCBCMYKL
Alliance Bank Malaysia - MFBBMYKL
Ambank Malaysia - ARBKMYKL
Affin Bank Malaysia - PHBMMYKL
Bank Muamalat Malaysia - BMMBMYKL
BSN (Bank Simpanan Nasional) - BSNAMYKL

Indonesia

BCA (Bank Central Asia) - CENAIDJA
Bank Negara Indonesia (BNI) - BNINIDJA
Bank Rakyat Indonesia (BRI) - BRINIDJA
Mandiri Bank - BMRIIDJA
Permata Bank - BBBAIDJA
Bank Danamon - BDINIDJA
CIMB Niaga - BNIAIDJA
Bank Syariah Indonesia - BSMDIDJA
Bank Mega - MEGAIDJA

Singapore

DBS Bank - DBSSSGSG
OCBC Bank - OCBCSGSG
UOB Bank - UOVBSGSG
HSBC Singapore - HSBCSGSG
Standard Chartered Bank Singapore - SCBLSGSG
Maybank Singapore - MBBESGSG
CIMB Bank Singapore - CIBBSGSG
RHB Bank Singapore - RHBBSGSG

Hong Kong

HSBC Hong Kong - HSBCHKHH
Standard Chartered Hong Kong - SCBLHKHH
Bank of China Hong Kong - BKCHHKHH
Hang Seng Bank - HASEHKHH
Citibank Hong Kong - CITIHKHX

China

Bank of China - BKCHCNBJ
Industrial and Commercial Bank of China (ICBC) - ICBKCNBJ
China Construction Bank - PCBCCNBJ
Agricultural Bank of China - ABOCCNBJ
China Merchants Bank - CMBCCNBS
Ping An Bank - SZDBCNBS

Philippines

BDO Unibank - BNORPHMM
Metrobank - MBTCPHMM
BPI (Bank of the Philippine Islands) - BOPIPHMM

Vietnam

Vietcombank - BFTVVNVX
BIDV (Bank for Investment and Development of Vietnam) - BIDVVNVX

Thailand

Bangkok Bank - BKKBTHBK
Siam Commercial Bank - SICOTHBK

Brunei

Baiduri Bank - BAIDBNBB

Why SWIFT Codes Matter for Malaysian Employers

If your business is involved in cross-border activities, SWIFT codes are more than just a technical requirement. Here’s how they impact your operations:

Cross-Border Business Transactions

Many Malaysian companies engage with international partners. Using the correct SWIFT code helps process payments smoothly without unnecessary delays.

Compliance with International Banking Standards

SWIFT codes help businesses comply with global banking regulations like anti-money laundering (AML) and know-your-customer (KYC) policies, reducing the risk of flagged transactions.

Avoiding Extra Fees & Payment Delays

Incorrect or missing SWIFT codes can lead to failed transactions, additional banking fees, and payment delays. This can affect business operations and supplier relationships.

Foreign Employee Salary Payments

For companies that employ expatriates, SWIFT codes are essential for transferring salaries to international accounts efficiently.

Common Mistakes and How to Avoid Them

While using SWIFT codes is straightforward, mistakes can still happen. Here are common errors and how to prevent them:

Incorrect SWIFT code entry – A simple typo can send funds to the wrong bank. Double-check the code before submitting any international payment.
Omitting the branch code – Some transactions require a specific branch code. If unsure, confirm with the recipient’s bank to avoid delays.
Relying on outdated information – Banks occasionally update their SWIFT codes after mergers or system changes. Always verify that the code is current.
Using unverified sources – Only rely on official bank websites, statements, or trusted directories to find SWIFT codes.

Best Websites for Malaysian Employers to Find SWIFT Codes

To find accurate SWIFT codes, rely on these trusted sources:

SWIFT Official Website (www.swift.com) – The most reliable source to verify a bank’s SWIFT code globally.
Bank Negara Malaysia (BNM) Website (www.bnm.gov.my) – Provides official references for financial transactions.
Bank-Specific Websites – Major Malaysian banks list their official SWIFT codes on their websites under the International Banking or FAQ sections.

Handling international payments doesn’t have to be complicated. With the right SWIFT codes, you can make sure your money reaches its destination safely and on time.

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