BIC is an abbreviation of the initial letters of the phrase "bank identification code". BIC is a mandatory element of the details of any bank. The bank identification code consists of nine digits. It fixes the territorial location of the bank's division, which provides customer service and non-cash payments.
Instructions
Step 1
The classification of bank identification codes is carried out by the Central Bank. The BIK directory is updated monthly. The BIK is unique for each bank. The bank identification code has nine digits. The first two digits represent the country code. For Russian banks the code "04" is always used.
Step 2
The next two digits (3 and 4 characters on the left) are the code of the territory of the Russian Federation in accordance with the "All-Russian Classifier of Objects of Administrative Territorial Division". If the 3rd and 4th digit of the BIK is equal to "00", it means that the bank's division is outside our country.
Step 3
The next two digits (5 and 6 characters on the left) are the code of the subdivision of the settlement network of the Central Bank, or the conditional number of the territorial subdivision of the Bank of Russia. It can range from "00" to "99".
Step 4
The last three digits (7, 8 and 9) are the conventional number of a commercial bank or its branch in the subdivision of the settlement network of the Central Bank, in which its correspondent account is opened. It can take values from "050" to "999". For cash settlement centers within the Bank of Russia, these categories take the value "000". For the Head Settlement and Cash Center and other divisions performing its functions, “001” is indicated in these categories. For other subdivisions of the Bank of Russia, these categories correspond to the code "002".
Step 5
Since the reference book of bank identification codes is open and posted on the website of the Central Bank and in other financial systems, all information encoded in it is available from external data sources. Extracting data from the BIK is advisable only if there is no information system at hand. From the BIK, you can find out the regional location of the bank, the division of the Bank of Russia responsible for its registration and maintenance, as well as the approximate date of opening the bank, since the internal number of the division is assigned as new credit institutions are registered.