Reference
Markdown exportBIC
Bank Identifier Code (SWIFT) used to identify banks in international payments.
Definition
Bank Identifier Code (SWIFT) used to identify banks in international payments.
Why this term matters
BIC (a.k.a. SWIFT code) is the bank-routing identifier in BT-86 PaymentServiceProviderIdentifier and is still required for any non-SEPA cross-border payment, plus most non-euro currency conversions. Omitting BIC for these flows often forces the buyer’s bank to reject the payment file or auto-derive a wrong BIC, delaying settlement.
Explanation
Sometimes optional within SEPA but used for international transfers.
Provided alongside IBAN in invoices.
Common mistakes
Use these points as the practical checks for this section.
- Sending an 11-character "BIC11" with branch code on systems that only accept the 8-character "BIC8" head office form, or vice versa.
- Including spaces or hyphens — the BIC must match /^[A-Z]{6}[A-Z0-9]{2}([A-Z0-9]{3})?$/ exactly.
- Mismatching country position 5–6 (the country code inside the BIC) with the country embedded in the IBAN.
- Hard-coding a BIC for a generic head office when the IBAN is held by a regional branch — corporate banks may reject the payment as misrouted.
Frequently asked questions
When is BIC mandatory in EN 16931?
BT-86 PaymentServiceProviderIdentifier is optional in EN 16931 itself, but Peppol BIS Billing 3.0 and several CIUSes require it for non-SEPA cross-border payments. For SEPA euro payments within the EU/EEA, BIC has been optional since the SEPA "IBAN-only" rule took effect in February 2016.
Where do I find a bank’s BIC?
On the bank’s account documentation, on bank statements, or via SWIFT’s public BIC directory (bank.swift.com). Some IBANs allow programmatic BIC derivation, but the safest source is the beneficiary themselves.
Are BIC and SWIFT code the same?
Yes — "SWIFT code" is the colloquial name. Formally it is the ISO 9362 Business Identifier Code (BIC). 8-character form is the head office; the optional 9th–11th characters identify a specific branch.