Connection between IBAN and BIC
Table of contents
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>