Skip to Content
Former Member
Nov 16, 2007 at 12:00 PM

BIC Code in bank master for SEPA requirements


Hello experrts,

we are currently running R/3 4.7 and I have a question regarding the maintenance of BIC code in bank master data. From next year on, payments inside Europe can/will be made according to SEPA requirements. One requirement is to provide the BIC code and IBAN for the tayment transfer.

Now in bank master data there is already a field for SWIFT code. Is it enough to maintain SWIFT? Because there is no separate field for BIC. Will the SWIFT flow into the payment document and represent the BIC?

In short words: Is SWIFT = BIC?