It is not the only coding system for banks - individual countries also have their own sets of codes which are used to identify banks in national interbank business. €™s their online search service that I wish to explain here. SWIFT is the process the Commonwealth Bank uses to send money overseas (similar to BPay used for domestic payments) and a BIC is the code that the SWIFT system uses to identify banks worldwide. €™s sending bank is in another country.

Country	City	Bank Name	Branch	SWIFT
Japan	Tokyo	Goldman Sachs Asset Management Japan LTD	Goldman Sachs Asset Management Japan LTD	GSAMJPJTXXX