SWIFT code
International bank identifier code used for cross-border wire transfers.
Definition
SWIFT code (Society for Worldwide Interbank Financial Telecommunication) is an 8-11 character identifier for a specific bank in international wire transfers. Required information for wires across borders.
Context
Delaware LLC US bank accounts have SWIFT codes for receiving international wires from home-country accounts or foreign clients.
Example
A founder wires $50K from their Dhaka bank account to their Mercury account to capitalize the LLC. The wire requires Mercury SWIFT code and the founder Dhaka bank SWIFT code.
Common pitfalls
- Wire fees vary; international wires typically $25-50 per transaction.
- Incorrect SWIFT codes cause wire failures and delays.