- OracleApps Epicenter - http://www.oracleappshub.com -

A bit on SEPA – IBAN & BIC

SEPA in system context have things which is really important.

  1. IBAN Code
  2. BIC Validation
  3. SEPA customer credit transfer, based on the ISO20022 format (XML)

So lets see why IBAN and BIC is so important.Take a note, SEPA schemes use BIC and IBAN codes to uniquely identify bank accounts

IBAN (International Bank Account Number)

The IBAN is provided by the bank servicing the account.

It should not contain any spaces when it is stored electronically. When printed on paper, however, it is usually expressed in groups of four characters, the last group being of variable length.

It consists of:

Total IBAN length may not exceed 34 characters.

BIC (Bank Identifier Code)

The BIC is the unique identifier for banks within the European Union.The BIC is regulated by ISO 9362

It consists of 8 or 11 characters, which include:

Similar Post

3 Comments (Open | Close)

3 Comments To "A bit on SEPA – IBAN & BIC"

#1 Comment By Chris Martin On September 23, 2008 @ 6:40 am

Sanjeev..

Whats your contact information. Even I am running an Oracle blog having 40-45k hits per month. Hope we can exchange links..

#2 Comment By Tony Clavering On September 24, 2008 @ 12:43 am

Good overview.

Validation of SWIFT BIC and IBAN is essential for SEPA compliance.

Unified Software [2] has an excellent web service which validates both BIC and IBAN (plus other stuff) and plugs straight into your application.

#3 Comment By Nafi On October 24, 2008 @ 11:02 am

how can i find iban and bic