14 June 2018
SEPA, IBAN, BIC and European transfers. Payments in Europe in the spotlight.
SEPA, IBAN and BIC. Behind these simple acronyms lies the ease with which you can pay for your purchases across Europe and make transfers to European bank accounts.
SEPA, the single euro payments area
Thanks to SEPA (Single Euro Payments Area) all payments in Europe are made in the same way. SEPA covers all member states of the European Union, Norway, Iceland, Liechtenstein and Switzerland.
IBAN (International Bank Account Number) is a standardised way of writing bank account numbers all over Europe. An IBAN consists of an account number, a country code and a numeric verification key.
- Example of an electronic format IBAN: BE61310126985517
- Calculate the IBAN for your account number(s) here now. You can also calculate your IBAN in Home'Bank: go to Info > Calculating the IBAN.
BIC (Bank Identifier Code) is a unique code used to identify international banks. When you make an international transfer within or outside Europe, you need to provide the BIC of the beneficiary's bank.
- ING Belgium's BIC is BBRUBEBB.
- You can find the BIC of other international banks on the Swift website.