Define Bank Identifier Codes

Explanation

This activity is used to define bank identifier codes. A bank identifier code is a unique code that is used to identify a bank through which a transfer payment is made or received.

Prerequisites

This activity has no prerequisites.

System Effects

As a result of this activity, bank identifier codes will be available to be connected to

• bank addresses defined for payment methods that use the payment formats SEPA  and SEPADD, and
• cash accounts.

Window

Bank Identifier Codes (BIC)

Related Window Descriptions

Bank Identifier Codes (BIC)

Procedure

The following procedure is used to define a bank identifier code.

1. Open the Bank Identifier Codes (BIC) window and create a new record.
2. Enter an ID for the new bank identifier code in the BIC/Swift Code field. The ID must comprise of eight or eleven characters. The fifth and the sixth characters of the ID must be alphanumeric and equivalent to the country code of the country to which the bank identifier code applies. (e.g. If the bank identifier code is for a Polish bank, the country code is PL. Hence the fifth character of the code must be P and the sixth character must be L).
3. Enter a description for the bank identifier code in the Description field if necessary.
4. Enter the city in which the bank is located in the City field if necessary.
5. Rmb Change Validity and select Block if you want to make the bank identifier code unavailable to be connected to a bank address or a cash account.
6. Save the information.