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BIC Code in bank master for SEPA requirements

Former Member
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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?

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Answers (2)

Answers (2)

Former Member
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Hello,

how are you, iam also implementing SEPA .

if you done with SEPA please suggest me how to proceed from starting to end steps.

waiting for your reply.

Best Regards

Damodar

Former Member
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Dear Reinhard,

yes, I can confirm this: SWIFT = BIC.

Best regards,

Reiner Kastner

Former Member
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Dear Reiner,

thanks for your "swift" reply. We will then start to maintain SWIFT in bank master. Would like to stay in contact with you when starting the SEPA functions during next year, if you don't mind?

Mit freundlichen Grüssen

Reinhard Wiggers