I'm helping a friend with submitting an expenses claim to a US organisation we're both involved with. As the money is coming from a US bank, we can't just give them an IBAN and a BIC and be done with it. Instead, we've got to supply full swift details.
My bank publishes their swift code. Comparing that to the BIC on my statement, it's similar, but different. (The BIC I've been told is 3 characters longer, and the 4th character from the end is not the same as the last character in the Swift code.)
Answers.com claims that Swift and BIC codes are the same thing, and that's what my friend was told when she asked her bank for its swift details. My bank however disagrees...
That makes me think that some banks have their Swift and BIC codes be the same, but that isn't required. Anyone know if that's the case?