Understanding SWIFT Codes: The Backbone of International Payments

Even though international payment providers now offer local payment options, the SWIFT system is still the backbone of International Payments.  SWIFT codes are an essential part of moving money between countries. A SWIFT code (also known as a BIC – Bank Identifier Code) is a unique identifier that helps banks communicate securely and ensures funds are sent to the correct financial institution.

Each SWIFT code identifies the bank, its country, location, and sometimes even the specific branch. A standard SWIFT code comprises 8 to 11 characters, structured as follows:

• Bank Code (4 letters): Identifies the bank.​
• Country Code (2 letters): Denotes the country of the bank.​
• Location Code (2 characters): Indicates the bank’s location.​
• Branch Code (3 characters, optional): Specifies a particular branch; if omitted, it typically refers to the bank’s primary office.

We’ve created a list of swift codes for every Israeli bank, so you don’t get confused if you decide to send directly from your bank to Israel:

• Bank Hapoalim B.M. – SWIFT Code: POALILIT​XXX
• Bank Leumi Le-Israel B.M. – SWIFT Code: LUMIILIT​XXX
• Israel Discount Bank Ltd. – SWIFT Code: IDBLILIT​XXX
• Mizrahi Tefahot Bank Ltd. – SWIFT Code: MIZBILITXXX
• First International Bank of Israel Ltd. – SWIFT Code: FIRBILIT​XXX
• Bank of Jerusalem Ltd. – SWIFT Code: JERSILITXXX​
• Mercantile Discount Bank Ltd. – SWIFT Code: BARDILIT​XXX
• Bank Massad Ltd. – SWIFT Code: MASBILITXXX​
• Bank Otsar Ha-Hayal Ltd. – SWIFT Code: OTSHILIT​XXX
• Bank Yahav for Government Employees Ltd. – SWIFT Code: BYAHILIJ​XXX
• Union Bank of Israel Ltd. – SWIFT Code: UNBKILITXXX​
• HSBC Bank PLC (Israel) – SWIFT Code: HSBCILITXXX
• Citibank N.A. (Israel) – SWIFT Code: CITIILITXXX​ ​

Using the correct SWIFT code helps ensure your international transfers to Israel are fast, secure, and hassle-free.
And remember — For a faster and more cost-effective way to send money internationally, consider using modern payment providers that offer local settlement — especially for transfers to Israel.