Predicate -SWIFT / BIC code / routing numbers

SWIFT code:
A SWIFT (Society for Worldwide Interbank Financial Telecommunications) code is an 8-11 character long, standard format code that identifies banks and financial institutions worldwide. Also called a SWIFT number, this code facilitates the transfer of money between banks and is needed for both international wires and SEPA payments.
SWIFT and BIC codes mean the same thing and the terms are used interchangeably. Both SWIFT and BIC codes identify banks and financial institutions and are used for money transfers.

Value statement :
SWIFT/BIC codes are used to send money between banks to ensure that the money gets sent to the right place. BIC stands for Bank Identification Code. This is an 8 to 11 character code that identifies banks around the world.
2022-11-13 113230
A SWIFT/BIC is an 8-11 character code that identifies your country, city, bank, and branch.

Bank code A-Z
4 letters representing the bank. It usually looks like a shortened version of that bank’s name.

Country code A-Z
2 letters representing the country the bank is in.

Location code 0-9 A-Z
2 characters made up of letters or numbers. It says where that bank’s head office is.

Branch Code 0-9 A-Z
3 digits specifying a particular branch. ‘XXX’ represents the bank’s head office.

Estimated frequency of new values or changes: Although many companies only have one SWIFT / BIC code, multiple values are possible, and new SWIFT / BIC code values may be assigned to an entity.

Tooltip definition of the predicate: “The SWIFT / BIC code associated with this entity.”

Type of value: String

# of accepted values: Multiple

Inverse Properties and Name: N/A

Examples of proper use:

Examples of improper use:

  • Intel → ‘SWIFT / BIC code’ → ‘ ACEEUS3A’ is incorrect as that is the SWIFT / BIC code associated with ACADEMY SECURITIES,. Intel Corp. has its own SWIFT / BIC code: ICPUUS6S. Citation: Check SWIFT/BIC

Usage in other schemas:

Constraints: Should only be applied to:

  • Company, Organization, Venture capital firm

Citation Required?: Yes.

SWIFT or routing number differences: If the payment crosses international borders, the SWIFT code is used, if the payment is within the country, routing numbers are used
You should be able to find both your routing number and account number by logging into your online banking account. You can also find them on your checks. At the bottom of each check, you will see three groups of numbers: routing numbers (again, typically nine digits) appear as the first group, the account number generally comes second, and the third is the actual check number. Sometimes, however, such as on official bank checks, those numbers can appear in a different sequence.
image
Examples of improper use:

  • Intel → ‘SWIFT / BIC code’ → ‘ 262284431’ is incorrect as that is the routing numbers associated with service bank. Citation: Check routing numbers

Citation Required? : No.
Hey! I think that citation is required in this case. Btw u indicated it in the examples.

SWIFT code is checked as fast as DUNS or CIK number. In the proposal indicated as an example.

@lavvpix Great idea! Two questions/notes:

  1. I think it would be good to provide an improper use example for “routing number” which is certain to be a common error. Reference for difference between the two: What Is the Difference Between Swift Codes and Routing Numbers? | The Motley Fool

  2. I looking up a couple of bank’s SWIFT code, I noticed that for some banks there is additional data associated with the SWIFT code that will get lost if just adding the SWIFT code. For example, for Wells Fargo (see International tab): Routing Numbers – Wells Fargo Commercial
    the SWIFT/BIC codes are associated with specific international branches.
    I think that requiring a citation (as noted by @Ras ) might help in these cases (ie, it is easy for the user to click over to the cited page for additional details).

1 Like

Thanks for the detailed comment, I’ve corrected it