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Mandatory BIC and IBAN

In June 2005, the European Payments Council passed a resolution whereby the BIC (Bank Identifier Code) and IBAN (International Bank Account Number) are now the only beneficiary customer account identifier and bank routing designation recognised by banks for all European cross-border credit transfers in Euros.
Please also see Bank Wizard - BIC and IBAN validation and IBAN (International Bank Account Number) - an introduction

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