BIC
noun[C]
BANKINGuk/bɪk/usabbreviationforbankidentifiercode: a set ofnumbers,letters, orsymbolsthatidentifiesabank, and is used byfinancialorganizationsto dobusinessbetweenbanks:
If apersontransferringmoneyquotesboththeirIBAN andtheirBIC, they willincurreducedbankchargesfor thetransaction.
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IBAN
SWIFT code
abbreviationforBank Investment Contract: aformalagreementbetween abankand aninvestorwhichpromisesthat theinvestmentwillpayaparticularamountofmoneyover aparticularperiodoftime:
Acompanythatbenefitsfrom the BICfundgets more than astraightcashinvestment.