Business identifier code: Difference between revisions
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Business identifier code, also known as the BIC, was originally called the bank identifier code. | Business identifier code, also known as the BIC, was originally called the bank identifier code. | ||
SWIFT (Society for Worldwide Interbank Financial Telecommunications)in its role of ISO registration authority, issues BICs to financial and non-financial institutions connected to the SWIFT network. | SWIFT (Society for Worldwide Interbank Financial Telecommunications) in its role of ISO registration authority, issues BICs to financial and non-financial institutions connected to the SWIFT network. | ||
The BIC is used in financial transactions, client and counterparty data bases, compliance documents and many others. | The BIC is used in financial transactions, client and counterparty data bases, compliance documents and many others. | ||
Revision as of 10:28, 30 October 2013
(BIC).
Business identifier code, also known as the BIC, was originally called the bank identifier code.
SWIFT (Society for Worldwide Interbank Financial Telecommunications) in its role of ISO registration authority, issues BICs to financial and non-financial institutions connected to the SWIFT network.
The BIC is used in financial transactions, client and counterparty data bases, compliance documents and many others.
