BIC - definition in the Business English Dictionary - Cambridge Dictionaries Online

Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “BIC”

BIC

noun [C]
 
 
/bɪk/ 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.
(Definition of BIC from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of BIC?
Add Cambridge dictionaries to your browser to your website

Word of the Day

intellectualize

to think about or discuss a subject in a detailed and intellectual way, without involving your emotions or feelings

Word of the Day

What’s All The Commotion About? (Words to describe sounds)

by Kate Woodford,
May 20, 2015
​​​ In this post we look at a range of words and phrases that we use to describe noise and the absence of noise. Starting with complete quiet, we sometimes use the noun hush to describe silence: A hush fell over the room as the bride walked in./There was a deathly hush (=complete

Read More 

plyscraper noun

May 18, 2015
a skyscraper made mainly from wood The development of engineered timber could herald a new era of eco-friendly ‘plyscrapers’. Christchurch welcomed its first multistorey timber structure this year, there are plans for Vancouver, and the talk is China could follow

Read More