Do NRIs Need an IBAN for Sending Money to India?

No, NRIs do not need an IBAN to send money to India, as the IBAN system is not used in India. Instead, international transfers to India require the bank’s SWIFT code along with the recipient’s account number and branch details.

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IBAN vs. SWIFT Code: What NRIs Need to Know

By Manish Prajapat |Last Updated: February 5, 2026

IBAN vs. SWIFT Code: What NRIs Need to Know

When it comes to IBAN vs. SWIFT code, many NRIs often face issues understanding the difference between these banking identifiers. They get confused about successful transfers, which code they should provide. For international money transfers, IBAN and SWIFT are two dominant standards. However, both of them are used for different purposes.

SWIFT code is also popular as BICs (Business Identifier Code). It helps in identifying banks and their branches globally. In contrast, IBANs work differently. Rather than the bank, it identifies the bank account of an individual. Both of them are vital for ensuring accurate, efficient, and secure cross-border payments.

Manish Prajapat(Tax Expert)

Mr Manish is a financial professional with over 10 years of experience in strategic financial planning, performance analysis, and compliance across different sectors, including Agriculture, Pharma, Manufacturing, & Oil and Gas. Mr Prajapati has a knack for managing financial accounts, driving business growth by optimizing cost efficiency and regulatory compliance. Additionally, he has expertise in developing financial models, preparing detailed cash flow statements, and closing the balance sheets.

Frequently Asked Questions

Yes, for countries that use the IBAN system—such as many European and Middle Eastern countries—you generally need both an IBAN and a SWIFT code to complete an international transfer.

To avoid errors, always verify the recipient’s banking details, especially the SWIFT code, from the official bank website. Carefully cross-check all information before initiating the transfer to prevent delays or failed transactions.

For an international transfer to India, you typically need the recipient’s full name as per bank records, bank account number, SWIFT code, and, in some cases, the IFSC code of the receiving branch.

The SWIFT code ensures that the transferred funds reach the correct Indian bank, regardless of the sender’s country. It acts as a universal identifier within the global banking network, enabling seamless cross-border transactions.

The SWIFT code is mandatory for Indian remittances because it ensures accuracy, security, and speed in international money transfers. It functions as a globally standardized 8–11 character alphanumeric code that helps identify specific banks and financial institutions across borders, reducing errors and supporting regulatory compliance.

IBAN vs. SWIFT Code: What NRIs Need to Know

Frequently Asked Questions

Do I Need an IBAN if I Have a SWIFT Code?

How Can I Avoid Mistakes When Sending Money to India?

What Information Do I Need to Provide for an International Transfer to India?

How Do SWIFT Codes Help in Sending Money to India?

Why Is the SWIFT Code Mandatory for Indian Remittances?

IBAN vs. SWIFT Code: What NRIs Need to Know

Frequently Asked Questions

Do I Need an IBAN if I Have a SWIFT Code?

How Can I Avoid Mistakes When Sending Money to India?

What Information Do I Need to Provide for an International Transfer to India?

How Do SWIFT Codes Help in Sending Money to India?

Why Is the SWIFT Code Mandatory for Indian Remittances?