It is the unique identification code of a particular bank. The Committee of European Securities Regulators (CESR) had originally wanted each competent authority (CA) to collect this information and share relevant reports with other CAs by November 2008, one year after MiFID went live. BIC + IBAN international bank transfers are faster, more efficient, and low-cost as they are sent directly through the SWIFT interbank network without using intermediary banks (who deduct charges or fees for their service). ISO 9362 (also known as SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Bank Identifier Codes approved by the International Organization for Standardization (ISO).

Country	City	Bank Name	Branch	SWIFT
Taiwan	Taipei	Barclays Bank PLC Taipei Branch	Barclays Bank PLC Taipei Branch	BARCTWTPXXX