Our company effects all its payments by the Internetbanking and submits transfer orders using an accounting program. Is it necessary to change the original BBAN account details to the current IBAN form in case of every business partner registered in the accounting programme?

Banks are allowed to provide the outdated payment file forms conversions to their clients until 30.01.2016, which is the end of the interim period. Request your accounting programme provider to provide the current version of the accounting system, which supports the payment file pain.001.001.03 generating. Prerequisite for generating the payment file pain.001.001.03 is that both payer`s and recipient`s account details are stated in the IBAN form.

Description of the payment file structure in the SEPA XML form is to be found here: (SEPA Credit Transfer Customer to bank Implementation Guidelines).

Starting with 30.01.2016, you will be able to send and import the internal transfers exclusively as a pain.001, where the recipient`s BIC SWIFT bank code becomes an optional figure.

The BIC SWIFT code still remains one of the optional data containing information of the recipient`s bank within the payment order for the international payments. Click here for more information.