IBAN to BIC mapping clarifications

1. Background

The aim of this document is to provide clarifications about the BIC (Business Identifier Code) to be used to correctly route the Verification Of Payee (VOP) requests.

Each VOP scheme participant is uniquely identified in the EPC Register of Participant (ROP) and in the EPC Directory Service (EDS) only by one BIC (the “participant BIC”, also called institution or head office BIC), provided during the VOP scheme adherence process in the Schedule to the Adherence Agreement (Annex H-2).  The EPC Secretariat does not perform any check on this BIC.

When updating the EDS, the VOP scheme applicants or the RVMs acting on their behalf must insert their reachability data (API endpoint (URI)) and the BIC(s) (“Account Holding BIC(s)”) associated with each URI.

From these Account Holding BICs, the requesting PSPs will hence be able to retrieve the API endpoint (URI) to which the VOP requests must be sent, which is key to ensure reachability and interoperability.

To summarise, in order to secure VOP reachability through EDS, two actions are required: 

• on the responding side: correctly populate the EDS with all relevant Account Holding BIC(s) that need to be reachable within the VOP scheme.
• on the requesting side: use a correct IBAN to BIC mapping solution of its choice to retrieve the right Account Holding BICs related to the given IBAN.
  
  

2. Definition of Account Holding BIC

The “Account Holding BIC” to be inserted in the EDS is the BIC of the legal entity of the PSP holding the account (IBAN). It identifies the PSP where the IBAN is domiciled and where the account holder’s name is registered.
This Account Holding BIC corresponds to the BIC of the VOP scheme participant as indicated in the National ID issuer list¹ .

Important to note: 

1. The Account Holding BIC may be different from the payment routing BIC which is the BIC of the PSP that routes or processes the payments.
2. Each VOP scheme participant may have from 1 to multiple Account Holding BICs reported by the National ID issuers. In case of multiple Account Holding BICs, all of them must be stored in the EDS.
   
   
3. Obligations of the Responding PSPs

The Responding PSPs must make sure that they store and maintain up-to-date in the EDS all their Account Holding BIC(s) that need to be reachable within the VOP scheme as indicated in the National ID issuer lists and associate an API address (URI) to each of them. 
They also must ensure to keep their BICs in these National ID issuer lists up to date.
Failing to do so, may result in non-reachability.

Remarks:

• The API address (URI) may be the same for all the Account Holding BICs of one VOP scheme participant.
• In some exceptional cases, when a VOP scheme participant is in the process of changing one of its Account Holding BICs and the change has not yet been published by the National ID issuer, the participant is recommended to insert in the EDS both the old and the new Account Holding BICs, and to remove the old Account Holding BIC after a reasonable time has passed since the change is published in the National ID issuer list.
  
  

4. Obligations of the Requesting PSPs

As mentioned in the VOP scheme API specifications (EPC 103-24) and in the API Security Framework (EPC 164-22), before sending a VOP request, a requesting PSP will have to map the payee’s (payment counterparty’s) IBAN received from the requester into the Account Holding BIC of the responding PSP (i.e., the payment counterparty’s PSP) to find in the EDS the reachability data (URI) of this responding PSP, that is required in order to send the VOP request.

This mapping activity and the retrieval of the reachability data of the responding PSP in the EDS should be done before the effective sending of the VOP request and are excluded from the five (5) seconds Maximum Execution Time².

Therefore, the requesting PSPs must make sure that they have a solution in place to be able to map the IBANs received from the requesters into the Account Holding BICs of the Responding PSPs as indicated in the respective National ID issuer lists. To this end, they may use a Directory Service Provider (DSP) which should be able to indicate how to find the correct Account Holding BICs in its Directory (which must be based on the National ID issuer lists as unique source of information).

The use of an incorrect IBAN to BIC mapping solution may result into a wrong BIC and URI being looked up in the EDS, and therefore an invalid VOP request. 

5. Directory Service Providers 

The DSPs are expected to use the National ID issuer lists as unique source of information to populate the Account Holding BICs to be used for the VOP scheme in their Directories, and be able to indicate to their PSPs or RVMs clients how to find these Account Holding BICs in their Directories.

Under the VOP scheme rules³, it is the responsibility of the VOP scheme participant to ensure that its DSP (a) is able to indicate where to find the Account Holding BICs in its Directory product or service; (b) uses the National ID issuer lists to feed the Account Holding BICs in its Directory product or service as unique source of information; (c) updates its Directory product or service on a frequent basis, and any time there is a change in National ID lists.

Annex I – Operational recommendations 

The EPC has developed a set of test cases, validated with five Directory Service Providers⁴, that can be used by VOP scheme participants. The test cases are currently under legal validation and will be published in due course.

Annex II – National ID Issuer lists

National ID Issuer lists can be downloaded here. 

¹_{A non-binding inventory of National ID issuers is available on the EPC website.}

²  _{See the VOP scheme Rulebook, section 3.3 Overview of the VOP Process & Time Cycle}

³ _{See the VOP scheme Rulebook}
⁴_{The EPC issued in July 2025 a public “call for Interest” for Directory Service Providers (DSPs), that has been answered by 5 DSPs}