An immediately visible consequence of SEPA : from 12 to 34 digits (16 for Belgian numbers).

The Belgian account number we have been using ever since its introduction in 1971, will no longer be used and will be replaced by the IBAN.

                                               BE68 5390 0754 7034

                                         replaces the former Belgian number

                                                    539-0075470-34

The new number will be mentioned on invoices, statements of account, pre-printed money transfer forms, debit cards, etc.

The former number consisted of three parts:

● the first three digits serve to identify the bank with which the account is held.
● the following seven digits represent the account number at the bank.
● the last two digits are a check digit, i.e. the remainder obtained after dividing the first ten digits by 97.

As for Belgian banks, the new IBAN will consist of 16 alphanumerical digits, e.g. :

                                               BE68 5390 0754 7034

In this new IBAN number :

● the first two digits are used to identify the country code : BE.
● the following two digits make up a check digit.
● the last digits, written down in 4-digit series, represent the former Belgian number.

In order to identify the other bank, one does not only need the IBAN, but also the BIC. The BIC (Bank Identifier Code), also called the SWIFT address, serves to identify the beneficiary's bank. It consists of 8 up to 11 alphanumerical digits which stand for a bank code (4 digits), a country code (2 digits) and a locality code (2 digits), to which a bank office code (3 digits) can be added for some banks.
The ‘BIC' acronym is put in front of the BIC. This acronym will be left out in case of electronic registration.

Please find enclosed the practical guidelines for the use of the IBAN and BIC.

Extensive technical information on the IBAN can also be found on the EPC website.

Counterparty Converter Tool: from national account number (BBAN) into IBAN & BIC