Convert your existing domestic bank account details to IBANs
For countries within the Eurozone, the requirement to use BIC and IBAN as the standard for domestic payments is already established. All account numbers will need to be changed by 2010 in accordance with the banks’ SEPA timeline.
As this is not a service that banks are allowed to provide, organisations are faced with the costly task of contacting potentially millions of individual customers in order to update their records. Experian Payments can clean-up and convert your existing domestic bank account data quickly and efficiently.
Domestic bank account conversion with Bank Wizard
By validating, reformatting and supplementing your existing payments database, we are able to:
- convert your existing domestic bank account details to IBANs
- Provide the valid corresponding BICs
This ensures that you comply with the requirements of:
- the EPC resolution 05/092 on BIC and IBAN
- the SEPA Credit Transfer and SEPA Direct Debit Schemes
How does Bank Wizard convert your domestic bank account data to BICs and IBANs?
Bank Wizard utilises the industry’s most accurate and up-to-date payment information and rules available to:
- form IBANs from valid domestic details
- perform validation of domestic account details
- provide a summary of error and warning conditions for each file
- provide a detailed report of invalid domestic data
- provide BIC information for domestic accounts
- generate an output file containing cleaned and generated data ready to be applied back to the customer’s database
Contact us to arrange to clean up and convert your existing data
Get it right. Keep it right
The efficiency of your payments database relies on the input of accurate data on an ongoing basis. Designed to be easily embedded within your systems, Bank Wizard is a complete application that can validate, provide and reformat your customer payment data at the point of entry. This ensures that you continually operate with accurate and up-to-date BIC and IBAN data.
Find out more about Bank Wizard