Itau Bank Swift Codes

A SWIFT code (also known as a BIC code) is a unique identification code used to identify financial and non-financial institutions around the world. SWIFT stands for “Society for Worldwide Interbank Financial Telecommunication,” which is the organization responsible for assigning and managing these codes.

SWIFT codes are used primarily for international money transfers and communications between banks. They ensure that the correct destination bank or financial institution is identified when sending or receiving funds across borders. Each SWIFT code is a combination of letters and numbers that provides information about the institution, its location, and sometimes even a specific branch.

Here’s a breakdown of the components of a typical SWIFT code:

1. Bank Code (4 characters): This is the unique code that identifies the bank or financial institution. It is usually a set of letters, representing the institution’s name or acronym.
2. Country Code (2 characters): This code represents the country where the institution is located. It follows the ISO 3166-1 alpha-2 country code standard.
3. Location Code (2 characters): This code specifies the location of the institution, often referring to the city where the institution is situated.
4. Branch Code (3 characters, optional): In some cases, an additional branch code is included to identify a specific branch of the institution.

For example, in the SWIFT code “ITAUBRSP”:

• “ITAU” is the bank code for Itau Unibanco.
• “BR” represents Brazil as the country code.
• “SP” indicates São Paulo as the location code.

Remember that SWIFT codes are used primarily for international transactions, and different countries and institutions may have variations in how they’re used. If you’re performing international transactions, it’s important to provide the correct SWIFT code to ensure your funds reach the intended recipient accurately and securely.