Difference Between SWIFT Code and IFSC Code

Swift code and IFSC code are the identification code for the banks. Mainly, those codes are using for transferring money between the banks. One of those codes needs to enter while sending the money.

Difference Between SWIFT Code and IFSC Code

What is SWIFT Code?

SWIFT – Society for Worldwide Interbank Financial Telecommunication. SWIFT code is used to identify the particular bank in the world is also called Bank Identifier Code (BIC). SWIFT code contains 8 or 11 digits of alphanumeric.

  • First, Four digits represent the Bank specifically
  • Next, Two numbers represent the Country Code
  • Next, Two numbers represent the Location Code
  • Last, Three numbers represent the particular Branch Code. (Optional)

Most of the banks have eight digits of SWIFT Code, but some of the banks may have 11 digits of the code. The last three digits indicate the particular branch code it might be optional.

Note: If you don’t know the SWIFT code for banks. Just go to Google and type swift code for hdfc bank, you will get the answer instantly. Like the same way, you can find SWIFT code for any bank.

What is IFSC Code?

IFSC – Indian Financial System Code. IFSC used to identify the particular branch. If you are in India and have a wish to transfer money from one bank to another bank within the county RBI has developed the different payment systems like NEFT, RTGS or CEMS you can easily transfer the money once you know the IFSC code of both the banks.

IFSC contain 11 digit code which is the combination of alphanumeric. The 11 Digit of IFSC Code will vary from branch to branch. IFSC will look like “ICIC0001007”.

  • The First four digits of alphabets represent the particular bank name.
  • The 5th Element of IFSC is marked as “0” and make it as the control character.
  • The last six characters are always numeric, and it represents the bank branch.
  • The last six digits are unique to all branches.
  • If Some Banks have two branches in the same city, you can differentiate with the help of last seven digits of IFSC Code. It is also called as bank branch locator.

Difference Between SWIFT Code and IFSC Code.

1 Swift Code Stands for ‘Society for Worldwide Interbank Financial Telecommunication.’
IFSC Stands for ‘Indian Financial System Code.’

2 Swift is a global code, and it is using for the International money transfer.
IFSC is a unique identification of particular bank branch.

3 International Standard Organization (ISO) has approved and control all the SWIFT codes.
Reserve Bank of India (RBI) has approved and controlled all the IFSC codes.

4 SWIFT Code enabled only for the banks who is the part of international wire transfer.
IFSC Code provided to all the banks.

5 SWIFT Code contains 8 or 11 Digits, and the fee is high for money transfer.
IFSC Code contains only 11 Digits, and the fee is low for money transfer.


You can use either SWIFT Code or IFSC code its depend on your money transfer. The simple logic behind this, Use SWIFT code for international money transfer and IFSC Code for Domestic money transfer.