Focus on the pronunciation of BIC
English definition of “BIC”
/bɪk/ noun [C] BANKING
› abbreviation 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. → Compare 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.