Anyone?

My bank is asking for a "switfcode"--they say 8 or 12 characters usually and I need this info to wire money from here to Japan. First time I encounter this.

It's a standard routing number for a bank used to identify it during electronic transactions (typically wire transfers). However, it's certainly not a "must" when it comes to wiring money overseas. Having the bank's name, address, (and often branch name or number), as well as the account holder's name, number, (and possibly address) is typically sufficient data for the transaction to go forward. But having the SWIFT makes the transaction even more solid. The more info, the merrier.

also, be aware that not all banks will have a swift number. I sold one of my scooters to a guy in the UK recently, and my local bank didn't even know what the hell a swift was. I had to use my other bank (Citibank) to complete the transaction. Any major bank (Citibank, Chase, etc) would certainly have one though.

My stupid bank couldn't send the money because they said they need the swiftcode to complete the form.

Inspite of the info given to me...this is so frustrating.

I might have to try to use other pre-paypal ways, like the ol' western union. Specific instructions for me is to "wire the money".

That's slightly wrong...the SWIFT code contains all that info (address, name, number etc.) it's what it's designed to do.

The key bits of data needed are a BIC/IBAN code (specific to the account money is being paid in to) and a SWIFT code (that identifies the country, bank and exact branch the account is hel at).

Hmm, I don't know either way, so I'll defer! But I don't think a bank will process a transaction with just the Swift code + acct info. In my experience, it's always been something asked for on top of the standard bank info (name, address, branch No....)

Perhaps that could work in the EC, but not Asia, in my experience anyway.

One piece of advice, Jay. Be ABSOLUTELY CAREFUL in writing the account holder's name clearly. If the teller inputs just one letter incorrectly, the Japanese bank will require the person to go to the branch to sort things out.

Second piece of advice: Add $50 to the original amount to cover the Japanese bank fees, which can be anywhere from $25 to $50 for an incoming wire. Sucks, eh?

Good luck.

Isn't the swift code the same as the BIC code ?