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BIC Derivation Rules for Ireland

From February 1 2016, an ‘IBAN only’ rule will come into effect. Bank customers will only be required to provide an IBAN (not the BIC) for the purpose of making a payment (credit transfer/direct debit) and banks will be required to derive the payer/payee’s BIC from the IBAN.

Payment Service Providers (PSPs) will continue to indicate the BIC of the account to be debited or credited when processing a SEPA payment transaction in the interbank space.

Download the BIC Derivation Rules for Ireland in PDF format here (pdf)

Download the BIC Derivation Rules for Ireland in Excel format here (excel)

Please note this document will be updated on a monthly basis with any additional BIC rules. It is the responsibility of the user to ensure they are referring to the most up to date version.