SWIFT Module 7.1 SP10.July 2020 | Package Services | WmFIN Package Services | wm.fin.bic Folder | wm.fin.bic:validateBICIBAN
This service validates the BIC code and IBAN combination for a financial institution, as follows:
1. Finds the PARENT BANK CODE from the IBAN:
a. Retrieves the Country_Code from the IBAN (the first two characters).
b. Retrieves the Unique_IBAN_National_Id from the IBAN using the IBAN Structure list.
c. Searches the Bank Directory Plus list using the IBAN Country_Code and the Unique_IBAN_National_Id as search criteria.
d. Retrieves the PARENT BANK CODE from the row found it the file.
2. Finds the GROUP PARENT KEY from the Bank Directory Plus list:
a. Splits the BIC into a bicCode (the first 8 characters) and a branchCode (characters 9 to 11). If the branchCode is empty, substitutes it with XXX.
b. In the Bank Directory Plus list, finds the bicCode and the branchCode.
c. Retrieves the GROUP PARENT KEY from the row found in the file.
3. Compares the GROUP PARENT KEY found in the first two steps. If the GROUP PARENT KEYs are the same, then the BIC and the IBAN belong to the same institution.
If no matching record is found, it does not necessarily mean that the IBAN/BIC combination is invalid. Determine if any of the following situations apply:
*The account servicing institution issues IBANs along with the BIC of another institution.
*The account servicing institution has multiple BIC codes with different bank codes (first 4 characters).
Input Parameters
String BIC code of the financial institution.
String IBAN of the financial institution.
Output Parameters
String Specifies whether the validation succeeded. Valid values: true and false.
String Specifies the error message if an error occurs.
String Specifies whether an error occurred. Valid values: yes and no.