IBAN, BIC and SWIFT explained In brief: SWIFT bank transfers are available worldwide; SWIFT codes are similar to BIC. BIC + IBAN international bank transfers are faster, more efficient, and low-cost as they are sent directly through the SWIFT interbank network without using intermediary banks (who deduct charges or fees for their service). The Committee of European Securities Regulators (CESR) had originally wanted each competent authority (CA) to collect this information and share relevant reports with other CAs by November 2008, one year after MiFID went live. You wish to send money to some person overseas, withdraw money from any payment portal or making purchase payment via online banking.

CountryCityBank NameBranchSWIFT
Germany Stuttgart Sueddeutsche Aktienbank AG Sueddeutsche Aktienbank AG DEAKDES1XXX
 
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