BIC
noun [ C ]
BANKING uk/bɪk/ usabbreviation for bank identifier code: a set of numbers, letters, or symbols that identifies a bank, and is used by financial organizations to do business between banks:
If a person transferring money quotes both their IBAN and their BIC, they will incur reduced bank charges for the transaction.
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IBAN
SWIFT code
abbreviation for Bank Investment Contract: a formal agreement between a bank and an investor which promises that the investment will pay a particular amount of money over a particular period of time:
A company that benefits from the BIC fund gets more than a straight cash investment.