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A bank SWIP code, often referred to as a SWIFT code (Society for Worldwide Interbank Financial Telecommunication), is a unique identifier for financial institutions used in international transactions. It typically consists of 8 to 11 characters, including letters and numbers, which represent the bank, country, location, and branch. SWIFT codes ensure that funds are transferred accurately between banks across different countries. They are essential for facilitating secure and efficient cross-border payments.
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