IBAN Plus

Ensuring accurate and complete beneficiary details for IBAN payments

IBAN Plus features

Successful processing of large volumes of SEPA payments requires straight-through processing (STP) rates of close to 100%. To achieve this, IBANs and BICs must be valid, accurate and available. However, IBAN accuracy can be a challenge due to incorrect bank/branch IDs embedded within the IBAN.

IBAN Plus helps overcome these challenges by providing a worldwide central database for validating IBANs and deriving the corresponding BIC for more than 70 countries, including the 32 SEPA countries. A specific directory is also available for corporate ERP systems. If you are a financial institution sending international IBAN payments or SEPA payments, find out how SWIFTRef's solution can help you achieve smooth and timely payments STP and SEPA compliance.

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What issues can you resolve with this directory?

  • Validate an IBAN, including country code pre-fix and IBAN length for the 70+ countries that adopted the IBAN
  • Extract the bank code and validate of its existence or confirm that they should not be present in IBANs

 
 

  • Find the corresponding BIC to be used, if not provided with the IBAN
  • Validate a BIC, if provided with the IBAN
  • Detect invalid IBANs generated by counterparties
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For correct routing and fast execution of your SEPA payments, the SEPA Plus directory provides everything else you need for a flawless SEPA payments process.

What can you find in this directory?

  • Institution name and country
  • Institution’s bank/branch codes in the formats as embedded in IBANs
  • Institution’s BIC codes as issued together with the IBANs to the account holders
  • Data for the 32 SEPA countries and all non-SEPA countries (40+) that adopted the IBAN. Each time a new country registers a new IBAN format with SWIFT (in the ISO Registry for IBANs), the file is updated

If purchased as a file, you will also receive IBAN STRUCTURE information, which includes:

  • IBAN country prefix
  • IBAN length
  • Bank code length, composition and position within the IBAN
  • Account number length and position
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