What happens if I enter the wrong SWIFT code for an international wire transfer?
Entering an incorrect SWIFT or BIC code during an international wire transfer typically results in the transaction being automatically rejected by the intermediary clearing bank or the destination institution's automated verification systems. When the error is caught, the funds are usually routed back through the banking network to your originating bank account, a process that can take anywhere from a few business days to over a week, and banks often deduct international wire trace fees or currency conversion processing charges from the returned amount. In rare instances where the incorrect SWIFT code happens to match an entirely different valid bank branch overseas, the transfer can be misdirected, requiring extensive communication, formal recall requests, and administrative investigations with your bank's compliance department to trace and recover the funds.
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