What is a SWIFT Code? — International payments
A SWIFT/BIC code is a unique identifier for a bank in the international payment system. Required for receiving and sending international bank transfers.
Definition
A SWIFT/BIC code is a unique identifier for a bank in the international payment system. Required for receiving and sending international bank transfers.
Details
Format: 8 or 11 characters (e.g. NLBAMK2X). Components: NLBA (bank) + MK (country) + 2X (location) + optional branch code. MK banks: Stopanska (STOBMK2X), NLB (NLBAMK2X), Komercijalna (KOBSMK2X), Halk (TTBAMK22). Mandatory on invoices for foreign clients.
Example
Invoice for foreign client: Bank: NLB Banka AD Skopje, SWIFT: NLBAMK2X, IBAN: MK07300123456789012. Client enters these details in their bank for transfer.