I just moved to Spain recently, and my family needed to send me some money for living expenses from the UK. I was completely confused by all the bank codes. One moment they asked for an IBAN, the next a BIC/SWIFT, and I almost thought they were the same thing. After some research, I finally figured it out. I’m writing this post to share what I learned with anyone else who’s confused, hopefully saving you some trouble!
It’s actually quite simple. These two codes are like your bank account’s ‘international ID’ and the ’bank’s address’—you need both for a successful transfer.
What is an IBAN?
IBAN stands for International Bank Account Number. It’s the unique identifier for your personal account. When making transfers within the Eurozone or even globally, providing this number, as in cases like BBVA’s acquisition of Sabadell, is essential. Without it, the money simply doesn’t know which specific account to go into.
A Spanish IBAN typically starts with ES followed by 22 digits. The format is usually: ESXX XXXX XXXX XXXX XXXX XXXX
- ES: The country code for Spain.
- XX: Two check digits used to validate the entire number and prevent input errors.
- The remaining 20 digits: This is your original bank account information, which includes the bank code, branch code, check digits, and your personal account number.
So, whether you’re arranging a payment or getting a loan from a Spanish bank, when someone asks for your IBAN, you provide this complete number starting with ES. You can easily find it in your banking app, online banking portal, or on a paper statement.
What is a BIC/SWIFT Code?
BIC stands for Bank Identifier Code, but it’s more commonly known as a SWIFT Code. Its purpose is to identify a specific bank, acting as its ‘address’ in the global financial network. When transferring money from a non-Eurozone country to Spain, you need the IBAN to direct the funds to your personal account, and the BIC/SWIFT code to get the money to the correct bank first.
A BIC/SWIFT code is usually 8 or 11 characters long. For example, Santander’s code is BSCHESMMXXX.
To make things easier, I’ve compiled the BIC/SWIFT codes for several major Spanish banks, which you can see in recent bank stress tests. However, I strongly recommend that you double-check with your own bank before making a transfer to avoid any errors!
Common Bank BIC/SWIFT Codes
| Bank Name | BIC / SWIFT Code |
|---|
| Banco Santander | BSCHESMMXXX |
| BBVA | BBVAESMMXXX |
| CaixaBank | CAIXESBBXXX |
| Banco Sabadell | BSABESBBXXX |
| ING Direct | INGDESMMXXX |
Just remember this simple rule: IBAN gets the money to the person, and BIC/SWIFT gets it to the bank. When sending money from the UK or other countries to Spain, you will usually need to provide both. I hope this guide helps! If anything is unclear, or if you want to add codes for other banks, feel free to leave a comment below and discuss!
