Business Identifier Code (BIC)

What is Business Identifier Code (BIC)?

Business Identifier Code (BIC) definition and meaning on Finance terms:
An international standard for identification of institutions within the financial services industry. The registration authority for BICs, which consist of eight or eleven contiguous characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters), is SWIFT. <