When is a SWIFT code needed?
Whenever an international transfer is made, a SWIFT code is necessary. It is usually paired with an IBAN (International Bank Account Number). Once the transfer is completed, the bank that receives the money issues a ‘SWIFT message’, a confirmation that funds were received and contains the full information about the transfer.
If you need to transfer funds to pay a supplier abroad, for example, you will need to include a SWIFT code. Conversely, if a customer from abroad needs to send you payment, they will request your SWIFT.
It is therefore an important piece of information to include in an invoice if you have customers abroad. It makes payment faster because the customer will not need to request the information, and ensure that your transfer is secure.