IBAN for Indian Banks: HDFC, ICICI, SBI SWIFT Codes and The Global Payment Solution

Do Indian banks use IBAN numbers? If you have tried receiving international payments, you have probably faced this question from overseas clients and got confused. The simple answer is no — India does not use IBAN numbers for banking. Instead, Indian banks rely on the SWIFT network for cross-border transfers.

Many freelancers, SaaS founders, and exporters get stuck when clients ask for an IBAN. India doesn’t use IBAN, and searching online often makes things more confusing. To help you avoid this confusion, this guide explains everything in simple terms.

This guide will show you the exact bank details to share with international clients and the correct SWIFT codes for major banks such as HDFC, ICICI, and SBI.

What Is an IBAN and Why Doesn’t India Use It?

An IBAN, or International Bank Account Number, is a standard bank account format used in many countries, mainly across Europe. It was created to make international payments easier and to avoid mistakes. An IBAN usually includes:

• Country code
• Check digits
• Bank identifier
• Branch code
• Account number

However, India does not use an IBAN number. Instead, our banking system has its own format for domestic transfers (IFSC + account number) and uses SWIFT codes for international transactions. That means Indian banks, including HDFC, ICICI, and SBI, do not issue IBANs. When a foreign client asks you for an IBAN, you simply share your account number, IFSC, bank branch, and SWIFT code.

The Core Difference: IBAN vs. SWIFT/BIC

IBAN and SWIFT are often mentioned together in international banking, but they perform different roles. Here is a simple table to help you understand the difference clearly.

Your International Payment Solution: SWIFT Codes for Major Indian Banks

Below are the main SWIFT codes used by major Indian banks. These are the primary head-office codes, and in most cases, sharing these with your client is enough to receive international transfers. 

HDFC Bank SWIFT Code

The primary SWIFT code for HDFC Bank is HDFCINBBXXX. This is the standard code used for most international payments sent to HDFC accounts.

Here’s what each part means:

• HDFC = Bank code (HDFC Bank)
• IN = Country code (India)
• BB = Location code
• XXX = Standard branch code used for international transfers

This single SWIFT code works for the majority of overseas payments to HDFC Bank. You simply share this code along with your account number and bank details when someone is sending you money from abroad.

ICICI Bank SWIFT Code

The primary SWIFT code for ICICI Bank is ICICINBBXXX. This is the general code used for most international transfers into ICICI accounts.

Some remittances may use a specific NRI code, but for most transfers, ICICINBBXXX works without any issue. When a client sends money to your ICICI account, they need this code along with your full account number and name as per the bank records.

State Bank of India SWIFT Code

The primary SWIFT code for State Bank of India is SBININBBXXX. This is the general head-office code and is widely accepted for international payments sent to SBI accounts.

SBI has individual SWIFT codes for some large branches in metro cities. However, for most international transfers, SBININBBXXX works smoothly and is the easiest and most reliable option to share with overseas clients.

Other Banks SWIFT Codes

Here are the primary SWIFT codes for a few other major Indian banks.

How to Receive International Payments in India?

Pick the Right Method

Choose how you want to receive the money. The most common options are:

• Bank wire transfer (most secure and used for B2B payments)
• International payment gateways (for freelancers and SaaS founders)

Select the method based on speed, fees, and convenience. For large payments or retainers, bank transfer is usually best.

Collect (and Double-Check) the Details

Share your bank details exactly as they appear in your bank records:

• Full Name (as per bank account)
• Bank Account Number
• Bank Name
• Bank Branch Address
• SWIFT/BIC Code
• IFSC Code (only if asked)

Set the Currency and Who Pays Fees

Confirm the currency (USD/EUR/GBP or sender’s currency) and decide who covers transfer fees. Your bank will convert incoming money into INR at its own exchange rate, so agreeing on currency upfront avoids confusion.

Create and Send the Invoice

Prepare a clear invoice that mentions the amount, currency, bank details, and purpose of payment. This helps both your client and your bank process the transfer smoothly and reduces compliance checks.

Ask the Payer to Initiate the Transfer

Once you share the details, request the sender to start the transfer. It’s a good practice to ask them to share a screenshot of the entered banking details before submitting — this helps catch errors early, especially in the SWIFT code and account number.

Save the Transaction Reference

Once the client sends the payment, note down:

• SWIFT reference / UTR number
• Sender’s name
• Transfer date

These details help track transfers if there is a delay.

Wait for Funds to Reflect

International transfers usually take 1–5 working days depending on the sender’s bank and country. Delays can occur if a correspondent (intermediary) bank is involved or due to time-zone or bank-holiday differences.

If the fee or conversion margin is high, consider asking clients to use a service that offers better exchange rates or fewer charges.

Explore Razorpay’s Global Payment Solutions

Hidden Costs of SWIFT Payments

Many Indian freelancers and businesses assume that once they have the SWIFT code, international payments will be simple. But the real challenge is not the code — it’s the traditional banking network behind it.  While SWIFT works globally, it often comes with hidden pain points you only realise after your first few international payments. 

High Fees 

SWIFT transfers usually pass through one or more intermediary banks before reaching your Indian bank. Each bank in the chain may deduct fees. Then, your Indian bank applies its currency conversion margin, which can further eat into your earnings.

Result? You may end up receiving less money than expected due to transfer charges and currency mark-ups.

Slower Transfers 

International wire payments generally take 2–5 business days to reach India. If there are intermediary banks or compliance checks, delays are common. During this time, you may have no update or visibility unless you keep following up with your client and bank, which can be stressful when you’re waiting to pay bills, salaries, or run your business.

Customer Confusion

Many overseas clients are used to IBAN numbers. When they don’t see one for India, they may enter your details wrong or choose the wrong transfer option.

This can lead to:

• The money is getting stuck on the way.
• You do not know where the payment is.
• Delays and repeated follow-ups.

As the receiver, you feel stressed because the money seems “lost” for a while, even though you shared the correct details.

Simplify Global Payments With Razorpay

Receiving international payments through traditional banking often leads to confusion. IBAN formats don’t match Indian standards, SWIFT transfers involve multiple intermediaries, and hidden fees reduce the final payout. Most businesses lose time chasing bank updates instead of focusing on their work.

Razorpay changes this experience entirely. With a single payment link or invoice, your clients can pay from anywhere in the world — no banking codes, no manual follow-ups, and no guesswork. Here’s how it simplifies the entire payment process:

• With Razorpay, there’s no confusion over IBAN or SWIFT formats. Your client simply makes the payment, and it takes care of the rest.
• You also get transparent pricing with no hidden deductions, so you know exactly how much you earn every time.
• Its real-time dashboard allows you to track payments instantly — without delays, bank follow-ups or guesswork.
• The platform is built for freelancers, service providers, exporters and global businesses, with simple onboarding and fast settlements that help you get started quickly.

FAQs

1. Which bank in India has an IBAN number?

No bank in India has an IBAN number. Indian banks do not use the IBAN system.

2. What is the Indian equivalent of an IBAN number?

India does not have an IBAN equivalent. Indian banks use IFSC + account number for domestic payments and SWIFT + account number for international transfers, which together serve the same purpose as IBAN but are not the same system.

3. What details do I need to give to a foreign sender for a transfer to my Indian bank account?

Share the following details:

• Your bank account number
• Account holder name (as per bank records)
• Bank name and branch
• SWIFT code
• Branch address (if requested)

4. Is IBAN a SWIFT code?

No. IBAN and SWIFT are different. IBAN is a bank account format used in some countries, while SWIFT is a bank identification code used globally to route international payments.

5. Is it safe to receive international payments without IBAN?

Yes. It is safe to receive international payments without an IBAN if you are in India. Indian banks use SWIFT codes and account details instead of IBAN, and this system is secure and globally recognised.

6. What are the fees for international transfers using these banks?

Fees depend on the bank and the route used. Typically, you may be charged:

• A remittance/transfer fee by your bank
• Intermediary/correspondent bank charges during the transfer
• A currency conversion spread when funds are converted to INR

Most Indian banks follow this structure, and the total cost can vary based on the sending country, bank, and transfer method.