BICPLUSIBAN DIRECTORY PDF

Boost the quality of IBANs and BICs in SEPA paymentsThanks to SWIFT’s new BICPlusIBAN Directory, sending banks can validate the IBANs. The data files used to populate BICPlusIBAN directory must be obtained from SWIFT directly. The sample BICPlusIBAN directory from SWIFT OTD Library is only. This is optional. If such a resource is not available BIC codes are not validated. Ony one of BIC or BICPlusIBAN directory must be present.

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Accordingly, you can choose the required option in this field. You cannot modify this field. This field corresponds to field 56a of S. You can also make settlements using a combination of any of the modes mentioned above i.

An Account with Institution refers to the financial institution, at which the ordering party requests the Beneficiary to be paid. In such cases, input to field 33B will be mandatory. You can specify a clearing network during settlement instruction maintenance for the Pay Leg and the Cover details. You can indicate whether your counterparty whose BIC Code details you are capturing is capacitated to receive payment messages in the MT format. You can maintain different settlement instructions for direcctory products.

Validate SWIFT BICPlusIBAN Activity

For the IBAN to be considered as valid, following conditions should be satisfied. It is sent direcfory the Account Servicing institution to notify an account owner of an entry that has been debited to its account. This information is inserted in Field 71A of an MT message involving the combination for which settlement instructions are being maintained.

If you opt to furnish the ERI value of the amount, you have to enter the following in this screen:. Specify the country of the intermediary institution.

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The receiver of the MT is the Remitting bank. You can also select an ultimate beneficiary account from the option list provided. This is applicable only in the case of bank transfers and not for customer transfers. All settlements are, typically, made using accounts.

Even if you have uploaded the exclusion list, you can see the IBAN national ID in this screen only from the date of activation of the exclusion. You have the option rirectory deleting this information. Based on this the system generates the new reference number.

Updating BICPlusIBAN (SWIFT Integration Projects)

A fax copy of an MT can be triggered for generation:. You can maintain several settlement combinations for an Ultimate Beneficiary. Check this box to indicate that you would like to enable the Netting option for the various components Amount Tags involved in the transaction.

Here you can specify information, from the Ordering Party to the Beneficiary Customer, about the reason for the payment. This consists of ISO country code and sequential number of six digits. If enabled this indicates that accounting entries maintained for the PC product should be posted for the PC contract initiated for Clearing. This field gets populated based on your entry in the Receiver Correspondent field in the Settlement Instructions screen.

You can specify the additional information, if any, which would be inserted to qualify multiple Instruction Codes in Field 23E of the MT message. This is a primary selection criterion.

For the selected combination, you have to specify bicplusibna settlement mode. You can specify this in the Charges Details section, in the main Settlement Instructions screen. In the Payment By field, indicate the mode of payment, either Direcfory or Clear Details; and in the Cover By field, indicate the mode through which cover must bicpluiban available. End of Sequence B underlying customer credit transfer details.

If you donot specify a value it will be defaulted to If the transfer is originating from a different bank you will need to capture the relevant data in this field. When you settle a contract, funds may have to pass through a series of banks before it actually reaches the Ultimate Beneficiary. This message type will be generated in case instrument to be issued in FCY. The same approach is followed for party B whose details are extracted from sequence B of the message.

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The BICPlusIBAN directory

The adjoining option lists displays the following values:. Similarly, if a component is to be received the debit account chosen becomes the receive account in the settlement maintenance. Here you need to link this tag content to the customer account and sender to the counter party BIC. The Ultimate Beneficiary refers to the Customer to whom the amount of the component is to be paid.

The system shows only those receivers whose details you have maintained in the customer maintenance with MT as Y. You will not be allowed to change this. Interest calculation basis in ICCF screen for interest.

Indicate the method of payment for both Outgoing as well as Incoming Payments, for a Branch, Account and Currency combination. In the settlement messages that are generated MTMTthe settlement amount would bicpluaiban reported in the Settlement Account Currency. Under Details in the Generate MT screen, provide the following details about the chosen receiver:.

In this case Citibank, Mumbai will be the Intermediary.

This field is not populated if the receiver of the MT is the same as Our Correspondent. The data in this field will appear as 57A in the accompanying MT