I have been recently accepted for a scholarship and I need to provide my IBAN/BIC number for some purpose of accommodation. My SBI Branch code is 006342 and I wasn't able to find any swift code based on this branch(from whatever I read so far Swift code is equivalent to BIC). Is there some algorithm to find out this IBAN number in INDIA and particularly for SBI banks? Can someone please help me?
IBAN (International Banking Account Number) is your account number only. But in this case, you need SBI Branch SWIFT code (not IFSC code, IFSC code is applicable only in India) for international transaction, like SBI CUTTACK SWIFT code is
SBININBB768. This information is enough for your international transaction. Every bank does not have a SWIFT code. Here is the list of all SBI branch of having SWIFT code.
Some other important links:
- SBI International
- SBI International Retail Banking
- SBI SWIFT Channels in India
- SBI NRI Remittance Services
UPDATE after the comment:
- An example of an IBAN number:
Suppose your SBI Account Number is
1068459 then your IBAN will be same i.e
- Why is Swift code required or what happens if the Swift code is not available?
This question can be a new question on SE Money for the best answer. In short, the Swift code is required to identify the bank and if it is not available you can use nearby bank's Swift Code.
- What is the relationship between Swift code and IBAN number?
Again, This question can be a new question on SE Money for the best answer. In short, there's no direct relationship between both.
You don’t have to provide both Swift code and IBAN (International Banking Number ). Swift code is enough for international deposit. And if you need the IBAN. You should ask with the corresponding foreign bank they will provide you.