Page last modified 09:57, 9 Jul 2012 by juhako

Connection between IBAN and BIC

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    Netherlands is one of the few countries using BIC bank code as part of the IBAN code, instead of a separate national bank code. This allows us to check that IBAN is indeed associated with the bank BIC states it is.

    Structure of IBAN and BIC:

    IBAN:  CCkk BBBB AAAA AAAA AA
BIC:   BBBB CC LL

k = check digit
B = bank code
A = account number
L = location code
C = country code

    Bank codes of IBAN and BIC have to match.

    For example, in the following IBAN and BIC do not match:

    <DbtrAcct>
  <Id>
    <IBAN>NL12INGBxxxxxxxxxx</IBAN>
  </Id>
</DbtrAcct>
<DbtrAgt>
  <FinInstnId>
    <BIC>RABONL2U</BIC>
  </FinInstnId>
</DbtrAgt>
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