Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.

Are BIC and SWIFT code the same things?
BIC and IBANN are used in EU (and some other OECD countries) for inter bank transfers. SWIFT is used everywhere for interbank transfers. In the US - IBAN system is not (yet, hopefully) available, so you have to use SWIFT. The codes may look the same, but these are different systems. More details here.