Converting and validating the bank accounts of all 34 SEPA member states into IBAN and BIC – that is what the PASS Consulting Group makes possible with its IBAN-EU-Converter. The partnership with the bank reference data provider SWIFTRef provides the basis for it.
The IBAN-EU-Converter ensures SEPA-compliant processing of transactions for the Single Euro Payments Area as well as for all countries using IBAN – based on the bank reference data from more than 200 countries worldwide. The issued IBANs and their corresponding BICs are checked for admissibility and validity in accordance with the country specific IBAN structures. Primary bank accounts can be converted into valid IBANs. As a Value Added Reseller (VAR), PASS uses the reference data from SWIFTRef for this purpose and integrates the Directories IBAN Plus and Bank Directory Plus to facilitate the process. These are based on the following data sources:
- ISO 9362 BIC Directory
- ISO 13616 IBAN Registry
- ISO 3166 Country Codes
- ISO 4217 Currency Codes
- National bank codes and BICs from the issuing authorities (central banks and banking associations)
The IBAN-EU-Converter makes it possible for international companies to consolidate SEPA payment transactions across various locations. It is multilingual and available as a stand-alone solution, Web application or as a component to be integrated into propriety software. In addition, PASS also offers a conversion service.
Main features of the IBAN-EU-Converter
- Single and batch conversion of bank accounts from the entire SEPA area as well as all other IBAN-compliant countries worldwide
- Two-way conversions between account numbers/bank code numbers and IBAN/BIC for SEPA member states and non-member states
- IBAN and BIC validation
- Identification of the BIC corresponding to the IBAN in accordance with the EU Directive 260/2012
- Support of the IBAN-only method
- Provide information on the participation of financial institutions within national and international clearing and settlement systems
More information: www.pass-banking.com/en/solutions/sepa/iban-converter-eu