From February 2014, IBAN (the International Bank Account Number) will replace current bank sort codes and account numbers and ensure unified data formats throughout the Single Euro Payments Area (SEPA). Is your bank data in the new IBAN and BIC format? Is up-to-date customer data available for client acquisition? Can you trust your international bank data?
If your bank data is not available in a suitable format, penalty payments and annoyed business partners are almost inevitable. Every misdirected and/or failed transaction can cost your company up to EUR 50 in penalty payments. Delayed payments annoy customers and suppliers, and can lead to considerable image damage. Are you ready for SEPA?
With bank.International we provide a practically-orientated solution to efficiently and effectively cope with these challenges. Check your customer’s bank details simply, comfortably and reliably.
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You have the following possibilities:
Please check the IBAN / BIC and post code / account number consecutively. They cannot be checked concurrently, because the input of bank sort code and account number details would be ignored.
To ensure that you have bank data available as required by SEPA in the near future, all bank details must be converted into the SEPA format. bank.International efficiently converts bank details into IBAN and BIC format, which eases the path for further project steps. To protect your SEPA bank data from renewed pollution, bank.International enables you to check your bank data immediately during input. It establishes whether the IBAN syntax is correct; that all information required for generating an IBAN is fulfilled and that the IBAN can be clearly allocated to a specific bank. The IBAN itself is validated. You can enrich any missing information – such as the complete bank name, bank sort code, BIC, post code or location – with reference data from SWIFT (Society for Worldwide Interbank Financial Telecommunication).
You can use bank.International for processing single records, either as an on-premise solution embedded in your system environment, or as Software as a Service (SaaS) directly from Uniserv. Large quantities of data are processed either locally (on premises), or with data processing services in our computer centre.
If your company is reliant upon direct debit payments, SEPA means that you must take important new steps. In the future, direct debit orders must be obtained in writing from all affected partners. However, this is only possible when your contact master data (in particular the address information) is up-to-date, fully complete and free of errors.
With Uniserv you improve the quality of your international addresses, and in the next step you check newly received customer bank data. Thus, you can make sure that your data quality is high enough for the change to SEPA.