The current BIC Database Plus will be expanded to include SEPA identifiers, such as national bank IDs used in IBANs, IBAN formats and BICs issued with IBANs. The expansion will lead to a new directory called BICPlusIBAN Directory. The directory will allow to find the BIC corresponding to an IBAN and to validate the BICs and IBANs in SEPA payments.

BIC Database Plus will be phased out end of 2008 and users will have to migrate to the BICPlusIBAN Directory. The BICPlusIBAN Directory will go live and be available as files downloadable from www.swift.com on 28 December 2007, aligned with the BIC publication schedule .

BIC Database Plus users with contracts created in 2007 or before will have their contract automatically renewed and have access to both directories during the one-year migration period. Pricing of the BICPlusIBAN Directory is the same as the current BIC Database Plus.

Material available: