ISO 9362

The standard ISO 9362 describes a standardized international code for the identification of offices in payments. The resulting BIC ( Business Identifier Code abbreviation for / business indicator) is used worldwide in banks, brokers, depositories and companies and can uniquely identify each directly or indirectly participating partners. After its initial use in the SWIFT payments it is also called SWIFT -BIC, colloquially used to also BIC code or SWIFT code, but would correct SWIFT address or BIC.

By July 2010 was the acronym BIC for " Bank Identifier Code " (bank identifier - figuratively bank codes). If the BIC is assigned to a business operating outside the financial sector, it is also called Business Entity Identifier ( business unit code ). On the BIC is referenced in ISO 13616 are described in the IBAN account numbers ( International Bank Account Number).

In payment of the SWIFT network payment format is undefined. Thus, it is left to the banks involved to identify an account as well as to identify the transaction. In the framework of the Single Euro Payments Area SEPA, a standard was designed, which identifies the payment participants by means of IBAN and BIC. In TARGET2, the European central banks have created a real-time gross settlement system, which does not rely on clearing of standardized transactions to the SWIFT network ( see EBICS ). The TARGET Directory lists all BICs, which are connected to the TARGET2 network.

Construction

The BIC has a length of 8 or 11 alphanumeric characters and the following structure:

2-digit coding of location in two characters. The first character may not be the digit " 0" or "1". If the second character is not a letter but a digit, this means:

The letter ' O' is not permitted as a second character.

3-digit identification (Branch Code ) of the branch or department (optional)

An 8 -digit BIC can be supplemented by "XXX" to a 11- digit, accordingly may be omitted "XXX", other characteristics not. The Branch code must not start with "X", unless it is "XXX".

SWIFT members (banks ) can be used for non-SWIFT members ( eg, large industrial companies ) to register with SWIFT just built a code, which is then called BEI ( Business Entity Identifier). A typical field of application is online applications from companies to indicate to the customer 's actual account information and even money payments automated to perform with the respective bank. Companies, which can also be directly connected for some time with SWIFT obtained as a SWIFT participant a BEI. The different names but does not affect the function of the code of the respective SWIFT participant.

Shortcomings

The national bodies responsible for awarding the IBAN have not kept to the definitions of ISO 3166-1 in contrast to SWIFT, which allocates the BIC. Thus, a small number of banks in IBAN space is created in which the country codes diverge in BIC and IBAN.

Online banking systems, which require the identity of the two country codes do not achieve the full IBAN room.

The largest group of countries with differing country codes in BIC and IBAN are the French overseas territories, which have received ISO 3166-1 country code own while but all begin with the IBAN FR. These exceptions are hidden in the notes of the IBAN registry to France and the respective overseas territory.

The two Channel Islands Guernsey and Jersey have about the peculiarity differing country codes out to even the complication that probably each bank can choose the Clearing Agent in France or the United Kingdom. The selected country, the clearinghouse determines the country code in the IBAN. Consequently, the following combinations are theoretically all possible:

The determination of the country code for the country of the clearing house will not be adhered to without exception. So is the clearinghouse for Greenland ( GL) in Denmark ( DK ), the IBAN yet but start with GL. They belong to the "standard" countries without a country code against IBAN BIC deviation.

Ambiguous test BIC: BIC, which differ only in the last digit of the two digit area codes LL are no longer distinguishable in the test. Also lost in the test, the distinction between active and passive SWIFT participants.

Non-unique BIC: 0 = the number zero can easily be confused with the letter O.

Advantages of the BIC

The use of BICs in an interbank contract ( SWIFT message ) via SWIFT facilitates automatic processing, as a BIC can be reacted with the appropriate software for each institution in the internal database identifier ( Straight Through Processing ), even if it is a passive SWIFT participants are. In contrast, SWIFT Full addresses must be interpreted a bank manually. SWIFT publishes regularly update, currently monthly, a BIC Directory with information about admissions, changes, and deletions.

Examples

  • The SWIFT BIC BELADEBEXXX assigned to the Berliner Sparkasse. This is part of the Berliner Landesbank (BE LA) in Germany (DE ), headquartered in Berlin ( BE).
  • The SWIFT BIC RBOSGGSX is the Natwest offshore bank on the Channel Island of Guernsey assigned in the UK, however denominated accounts similar to the IBAN GB45NWBK12345678901234.
  • The SWIFT BIC CHASGB2LXXX is JPMorgan Chase Bank in London, United Kingdom, assigned.
  • The SWIFT BIC RZTIAT22263 is the Raiffeisen Bank Kitzbühel ( Bank code: 36263 ) assigned in Austria.
  • The SWIFT BIC BCEELULL associated with the " Banque et Caisse d' Epargne de l'Etat " in Luxembourg.
  • The SWIFT BIC MARKDEFF (or MARKDEFFXXX ) is assigned to the Headquarters of the German ( DE) Federal Bank (MARK) in Frankfurt am Main ( FF).
  • The SWIFT BIC GENODEF1JEV is assigned to the People's Bank Jever. It is located in Germany ( DE) composite of Cooperative Banks ( GENO ) and is passive participant in the SWIFT (1 ), ie without direct connection to the SWIFT system.
  • The SWIFT BIC UBSWCHZH80A the Swiss bank UBS AG is assigned.
  • The SWIFT BIC CEDELULLXXX is Clearstream Banking SA assigned in Luxembourg.
  • The SWIFT BIC HELADEF1RRS associated with the Rhön- Rennsteig savings bank. Since it is passive SWIFT participant, for example, transactions will only be accepted with the 8- digit code HELADEFF the parent Landesbank Hessen -Thüringen.
  • The SWIFT BIC GENODEF1S04 the Sparda- Bank München eG is assigned. It is thus also passive participant in the SWIFT.
Real Time Gross Settlement Electronic Banking Internet Communication Standard
103899
de