SWIFT Code vs IBAN: What to Put on Your Invoice

Quick answer: A SWIFT code (also called a BIC) identifies a bank in an international transfer. An IBAN identifies an individual bank account, including the country and bank. For international payments, put both on your invoice where your country uses IBANs; US businesses have no IBAN and give a SWIFT code, routing number and account number instead.

If you invoice clients in other countries, the payment section of your invoice is where most delays start. A missing SWIFT code, an IBAN with a typo, or the wrong details for the currency can hold up a payment for days. This guide explains SWIFT code vs IBAN in plain terms, shows the formats, tells you what to include for common countries, and gives you a sample invoice payment block you can copy.

What is a SWIFT code?

A SWIFT code, or BIC (Business Identifier Code), is an 8 or 11 character code defined by ISO 9362 that identifies a financial institution in the Swift network, which banks use to send payment messages internationally. Swift explains the structure on its BIC standards page.

Part	Characters	Meaning	Example (DEUTDEFF500)
Bank code	4 letters	Identifies the institution	DEUT
Country code	2 letters	ISO country	DE
Location code	2 letters or digits	City or region	FF
Branch code (optional)	3 letters or digits	Specific branch; XXX often means head office	500

An 8-character code refers to the bank's primary office. Many banks ask you to use a specific code for incoming international payments, so check with yours.

What is an IBAN?

An IBAN (International Bank Account Number), defined by ISO 13616, is a standardized account number used in Europe, the Middle East, parts of Africa and Latin America, and elsewhere. It packs the country, a check value, the bank and the account number into one string of up to 34 characters.

Part	Example (GB33BUKB20201555555555)
Country code	GB
Check digits	33
Bank identifier	BUKB
Sort code (UK)	202015
Account number	55555555

The check digits let banks catch most typos before a payment is sent, which is one reason IBAN payments fail less often than payments with free-typed account numbers.

SWIFT code vs IBAN: the key differences

	SWIFT code / BIC	IBAN
Identifies	A bank (and optionally a branch)	A specific account at a bank
Length	8 or 11 characters	Up to 34, fixed per country
Standard	ISO 9362	ISO 13616
Used in the US?	Yes, for international wires	No
Needed for SEPA euro transfers?	Usually not	Yes
Can someone take money with it?	No	Not by itself; direct debits need a mandate

Think of it this way: the SWIFT code tells the sending bank which bank to route the money to, and the IBAN tells that bank which account to credit. For most cross-border payments into IBAN countries, you need both.

What to put on your invoice by country

Your country	Include for international payments
United States	Account name, bank name and address, SWIFT code, ABA routing number (for wires), account number
United Kingdom	Account name, IBAN, SWIFT/BIC; sort code and account number for UK payers
Eurozone	Account name, IBAN, BIC
Canada	Account name, bank name, SWIFT code, institution number, transit number, account number
Australia	Account name, SWIFT code, BSB, account number
India	Account name, bank name, SWIFT code, IFSC, account number

For US accounts, ask your bank whether international wires use the same routing number as domestic ones; some banks use a dedicated wire routing number. Our guide to routing numbers vs account numbers explains the difference. Indian freelancers should also read how to receive money from abroad in India, and Pakistani businesses our guide to receiving payments from abroad in Pakistan.

Example invoice with international payment details

Here is a realistic invoice from a UK design studio to a US client, laid out the way your invoice should read.

Description	Qty	Rate (USD)	Amount (USD)
Brand identity design: logo, palette, typography	1	3,200.00	3,200.00
Website design, 6 page templates	6	450.00	2,700.00
Revisions beyond scope (hours)	4	95.00	380.00
Subtotal			6,280.00
VAT (outside scope: B2B service to non-UK customer)			0.00
Total due			6,280.00

Payment details
Account name	Northlight Studio Ltd
Bank	Example Bank plc, 1 High Street, London
IBAN	GB33 BUKB 2020 1555 5555 55 (example only)
SWIFT/BIC	BUKBGB22
Currency	USD to a USD-denominated account, or GBP equivalent at payer's bank rate
Charges	OUR (all bank charges paid by sender)
Reference	INV-2026-0147

Whether VAT applies depends on your situation, so confirm the treatment for cross-border services with your accountant. You can build this layout in our free invoice generator by adding the payment details to the notes section and setting the currency to USD.

How to add SWIFT and IBAN details to an invoice (checklist)

1. Get the details from your bank, not from a website directory, and ask which SWIFT code to use for incoming payments in the invoice currency.
2. Write the IBAN in groups of four for readability (GB33 BUKB 2020 ...), but tell payers to enter it without spaces if their bank asks.
3. Match the account name exactly to the legal name on the account.
4. State the currency and whether the account can receive it directly.
5. Specify the charge option (OUR, SHA or BEN) if you need the full amount.
6. Ask for a reference, usually the invoice number, so you can match the payment.
7. Save it as a template so the details are identical on every invoice. Our guide to bank details on an invoice covers what to include for domestic payers too.

Worked example: what reaches your account

Using the invoice above, here is how charge options can change what the UK studio receives. Bank fees here are illustrative; actual fees depend on the banks involved.

Charge option	Sender pays	Intermediary deduction	Studio's incoming fee	Studio receives
OUR	$6,280 plus their bank's fees	Covered by sender	$0 to small fee	About $6,280
SHA	$6,280 plus their own bank's fee	$20	$15	$6,245
BEN	$6,280	$20	$15 plus the sender's fee of $30	$6,215

If a payment arrives short, record the bank charge as an expense, or invoice the shortfall if your terms say charges are for the payer's account. Either way, mark the invoice as paid only when the books balance, and note the cause so you can adjust the instructions for that client next time.

Fees and timing for SWIFT and IBAN payments

International transfers through the Swift network can pass through one or more intermediary (correspondent) banks, each of which may deduct a fee. That is why a $6,280 invoice sometimes arrives as $6,245. Typical international wires take one to five business days. The move to the ISO 20022 message format has made payment data richer, which can help with matching; see ISO 20022 payments.

For more on cost and speed, read wire transfer fees, how long a wire transfer takes and cross-border payment fees. Services such as Wise can give you local account details in several currencies, which often costs less than receiving a Swift wire; compare them in our Wise Business fees guide.

IBAN length by country

Country	IBAN length	Starts with
Belgium	16	BE
Netherlands	18	NL
Switzerland	21	CH
Germany	22	DE
Ireland	22	IE
United Kingdom	22	GB
United Arab Emirates	23	AE
Spain	24	ES
Pakistan	24	PK
Saudi Arabia	24	SA
France	27	FR
Italy	27	IT
Poland	28	PL

If an IBAN a client or supplier gives you does not match the length for its country code, ask them to recheck it before you send or expect money.

How IBAN validation works

The two check digits are calculated using a modulo 97 formula. To validate, a bank moves the first four characters to the end, converts letters to numbers (A=10, B=11 and so on), and checks that the resulting number divided by 97 leaves a remainder of 1. You do not need to do this by hand: most banking apps and accounting tools validate IBANs as you type, and free IBAN checkers exist. The check catches almost all single typos and swapped digits, but it cannot confirm that the account belongs to the name on your invoice.

Ways to receive international payments compared

Method	What you give the payer	Typical speed	Cost notes
Swift wire to your bank	SWIFT code plus IBAN or account and routing numbers	1 to 5 business days	Incoming fee plus possible intermediary deductions and FX margin
Local account details (Wise, Payoneer and similar)	Local details in the payer's currency, such as a UK sort code or EUR IBAN	Often same day to 2 days	Conversion fee when you move money to your home currency
SEPA transfer (euro to euro)	IBAN (BIC optional)	Usually 1 business day; instant where supported	Usually low or free
PayPal or card link	Email or payment link	Minutes	Percentage fee plus cross-border and conversion fees

For a side-by-side view of two popular platforms, see Wise vs Payoneer.

Common mistakes with SWIFT codes and IBANs

• Listing an IBAN for a US account. US accounts do not have one, and inventing one causes rejections.
• Using the wrong branch code. An 11-character code for a branch that does not handle international payments can delay funds.
• Typos in the IBAN. Copy and paste from your bank; never retype.
• Omitting the account holder name or using a trading name the bank does not recognize.
• Forgetting the currency. Clients may send the wrong currency and you lose on conversion.
• Changing bank details by email. This is the classic setup for payment diversion fraud. See invoice scams for warning signs.

Summary

The SWIFT code points the money to your bank; the IBAN points it to your account. Include both when you have both, use routing and account numbers when you are in the US, and state the currency, charges and reference on every international invoice. Our invoice generator is free, needs no sign-up, and builds a downloadable PDF in your browser, so you can save one clean payment block and reuse it every time a client asks about SWIFT code vs IBAN.