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Glite Dictionary
🖊️ A pen brand 🏦 Bank code
Bic

Bic

8.2
A short code used to identify a bank for international payments
  • noun
  • Specialized
translation icon : BIC
  • The BIC is essential for making international financial transfers, as it uniquely identifies a bank.

Examples

  • Each bank has its own BIC, which you need for international transactions.

  • Make sure to include the correct BIC when sending money abroad to avoid delays.

  • You need to provide the Bic of your bank when making an international payment.

  • The Bic helps ensure that the money is sent to the correct financial institution.

  • Always double-check the Bic before submitting your transfer request.

  • The Bic code for Wells Fargo is essential for international transfers.

  • You need the Bic to complete the transaction.

Surface Forms

Bic singular
Bics plural

Morphology

Bic = B + I + C

This is an initialism/acronym (letters stand for words); the letters do not transparently convey the meaning to learners.

Etymology

Bic is a short form of Bank Identifier Code, which is a 'code' that 'identifies' a bank for international payments. That's why you give a Bic when you want to send money abroad.