Beneficiary account for a SWIFT transfer: what details you need and how IBAN and BIC differ
We explain what information to request from the recipient and how to enter it in the transfer form. Learn how account numbers, IBAN and SWIFT/BIC differ, when additional details are needed and what to check before sending.
Quick answer
For the Beneficiary name, Account number / IBAN and SWIFT/BIC fields, ask for the beneficiary's full name, account number or IBAN, bank name, bank code and bank country. You choose the amount and currency.
What to request for the transfer form
- Beneficiary
- The account holder's full name.
- Account
- The account number or IBAN from the bank's instructions.
- Bank
- Name, SWIFT/BIC and country.
- Additional fields
- Addresses, local code, intermediary details, payment purpose and Reference - as specified in the instructions and form.
Request instructions for an incoming international transfer in the required currency and match them to the form. The fields required depend on the specific transfer.
Where can you find SWIFT details, and what should you ask the beneficiary?
Ask the beneficiary to find their bank's instructions for incoming international transfers. Specify the currency in advance: the instructions must apply to the planned transfer.
You can look for an account details section in the account portal, mobile app or online banking. Possible names include "Account details" and "International transfers." These are search suggestions, rather than a menu path for a particular bank. If the instructions are not available online, the beneficiary can request them from customer support or at a branch of their bank.
Message to the beneficiary
Please send me your account details for an incoming international transfer in (currency): the account holder's full name, account number or IBAN, bank name and country, and SWIFT/BIC.
If the bank's instructions include the beneficiary's address, bank address, local bank code or intermediary details, please send those too. Are there any specific instructions for the payment purpose and Reference field? If possible, please send the bank's instructions themselves.
If you are transferring money to yourself, request this information from the bank where you hold your overseas account.
What should you enter in the "Beneficiary account" field, and how does IBAN differ from SWIFT/BIC?
The beneficiary's account number for a SWIFT transfer comes from the instructions for the bank account. A card number alone does not provide a complete set of details: you cannot use it to fill in all the fields for the account holder, account and bank.
Field names depend on the sender's form.
| Detail | What it means | Where to find it in the instructions |
|---|---|---|
| Account number | The beneficiary's bank account number. | On the Account number line or in the account details. |
| IBAN | The international account number format used in countries that support it. | On a separate IBAN line. |
| SWIFT/BIC | The bank's identifier in the context of the transfer form. | On the SWIFT, BIC or SWIFT code line. |
Copy the IBAN from the instructions: you do not need to construct it yourself from the account number. Copy the beneficiary bank's SWIFT code from the bank document too, rather than choosing one based on a similar financial institution name.
According to Swift's description, a BIC contains eight characters; an additional three-character identifier specifies a branch, location or service. This produces codes of either eight or eleven characters.
When do you need the bank address and correspondent bank details?
The form may ask for the beneficiary's address, bank address, local bank code or correspondent bank details. For example, HSBC Egypt lists additional bank details and notes that some countries request additional information. These are requirements for the banking scenario described, rather than a standard set for all transfers.
A correspondent bank may act as an intermediary in an interbank payment. Its correspondent account and the beneficiary's personal account belong to different parties: enter each in its designated field.
If the bank address is required, take it from the instructions. Do not choose the address of the nearest branch or head office yourself. The bank details for a SWIFT transfer must match the selected currency; a general list of correspondent banks does not confirm the route for your transaction.
If the form asks for additional bank details, match them to the instructions for the selected currency. If there is no corresponding line, the sending party should explain what information is needed, and the beneficiary should request it from their bank.
How to enter the details in the form: a worked example
Suppose you are transferring money to your own overseas account. The bank has provided instructions containing the IBAN, account holder details and bank details. Open them alongside the form: the sender and beneficiary are the same person here, but the beneficiary details must refer specifically to the overseas account.
Illustrative example, not for use in a transfer: the IBAN below comes from a demonstration example in the Swift registry, and the BIC comes from NatWest's guidance. These illustrate the format and are not your beneficiary's details. The remaining rows explain what to take from your own bank's instructions.
| Field | Example value | How to select the right information |
|---|---|---|
| Beneficiary name - the beneficiary's name | Anna Petrova - a fictional name for this example | Enter the name exactly as the bank specifies it for this account. Do not replace it with a familiar shortened version. |
| Account number / IBAN - the account number or IBAN | GB29 NWBK 6016 1331 9268 19 | In this example, the instructions contain an IBAN. Enter it in the field the form provides for this detail. |
| Bank name - the bank's name | National Westminster Bank Plc (NatWest) | Use the beneficiary bank's name. If an intermediary is listed separately, do not enter its name here. |
| SWIFT/BIC - the bank code | NWBKGB2L | Select the code for the beneficiary's bank, rather than another party involved in the transfer. |
| Beneficiary address - the beneficiary's address | The account holder's address from their bank details; not shown in this example | Use the account holder's information. If the document does not include an address, request it for this field. |
| Bank address - the bank's address | The bank address from the payment instructions; not shown in this example | Copy the bank address from the same document. |
| Payment purpose - the purpose of the payment | Transfer between my own accounts | This sample wording describes this scenario. Check it against the form's guidance. |
| Reference - a payment reference or note | Check with the party arranging the transfer: no value is specified in this example | Our instructions do not contain this value. First, establish what the field is for, as described below. |
IBAN example: Swift IBAN registry. BIC example: NatWest guidance on IBAN and BIC. With no spaces, the sample IBAN looks like this: GB29NWBK60161331926819. For an actual payment, use only your beneficiary's details.
The names and order of fields in a payment order may differ. If Account number and IBAN appear separately, read the guidance: the example does not mean that you should enter the same value in both fields.
What should you enter in Payment purpose for a personal transfer?
Payment purpose explains why you are sending an international payment. Describe the actual purpose: transferring money to yourself, supporting someone close to you or paying tuition fees. Your status as an "individual" does not explain the purpose on its own.
The wording below is illustrative and has not been approved by a bank. Use it only if it matches your transaction and the form's requirements.
How should you describe a transfer to yourself?
Transfer between my own accounts - "A transfer between accounts I own." This wording conveys the purpose if both accounts belong to you.
How should you describe support for someone close to you?
Financial support for a family member - "Financial assistance for a family member." Use this meaning if you are actually sending family support.
How should you describe a tuition payment?
Tuition fee payment - "Payment for tuition." Check the wording against the educational institution's document and payment instructions.
If the form offers categories, select the one that matches the purpose and read the explanation. For a tuition payment, the beneficiary in the form must match the payment instructions: it may be the educational institution rather than the student.
What does Reference mean, and where can you find its value?
Read the explanation of the Reference field in the specific form. It may help match the payment to a beneficiary, document or arrangement, if that is the function described in the guidance. There is no single value that applies to every transfer.
Distinguish between a note the sender enters before sending and a transaction identifier the system assigns afterwards. Do not assume they are interchangeable or copy Payment purpose into Reference simply because both fields accept text.
In the worked example, the bank's instructions do not contain a Reference. First, read the explanation beside the field. If it is insufficient, ask the sending party a specific question.
"The form has a Reference field. What is it used for in this transfer, who provides the value, and what should I enter for my situation?"
If the beneficiary provides the value, request it along with the document or explanation it relates to. Do not invent a code to fill in the field.
What should you check before sending a SWIFT transfer?
-
Check the main details
Compare the account holder's name, account number or IBAN, and BIC against the original instructions. Check the letters and digits against the document, rather than from memory.
-
Check the currency and additional fields
Make sure the instructions apply to the selected currency. Check the addresses, local code and intermediary details if the form requires them.
-
Review the payment purpose and Reference
The purpose must describe the actual transaction. For Reference, establish who provides the value and how it is used.
-
Agree on the transfer terms
Check with the sending party whether the transaction is available, what the fee is and what conditions apply to crediting the funds. Complete details and a matching format do not, on their own, verify the account holder or confirm that the transfer is possible.
What questions about bank details can you ask ATM24?
If you are considering SWIFT transfers through ATM24, have the beneficiary's country, currency, amount and purpose of the money transfer ready. A manager will help you discuss an available route and agree on the terms before the transaction.
What to prepare for the conversation
- Which fields will be needed?
- The beneficiary's bank instructions for the selected currency.
- What information is still missing?
- A list of fields for which you could not find matching details.
- Is the transfer suitable for my needs?
- The country, currency, amount and actual purpose of the international transfer.
The beneficiary requests the instructions and account holder information from their bank. Discuss the required details for the agreed transfer with an ATM24 manager.
Questions and answers
The beneficiary sent only a card number. What else should I ask for?
Ask for the bank's instructions for an incoming international transfer in the selected currency. They need to include account holder, account and bank details; the beneficiary should request any missing information from their bank.
The details do not include an IBAN, or the form asks for Account number and IBAN separately. What should I do?
Find the account number in the instructions and check the form's guidance on which details it accepts. If it is unclear how they match, ask the sending party which field to fill in for this account; do not construct an IBAN yourself or duplicate the value.
The BIC has eight characters, but the form expects eleven. What should I do?
Show the sending party the code from the instructions and ask which version the form accepts. If a more specific code is needed, the beneficiary should request it from their bank rather than add characters themselves.
Is a correspondent bank needed if the beneficiary has not specified one?
Ask the sending party whether correspondent bank details are required for the selected currency and transfer. If they are, the beneficiary must request the relevant instructions from their bank.
Can I enter the same text in Payment purpose and Reference?
First, establish what Reference is used for by reading the form's guidance or asking the sending party. Payment purpose describes the reason for the transfer, while Reference may require a separate note from the beneficiary's instructions.
Do complete bank details confirm that the transfer is available?
The details describe the account and the parties involved in the transfer. Confirm separately with the sending party whether the specific transaction can be processed and on what terms before sending.
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