Financial Institution Identification

Using with Account Id

An account ID (ACCT) only specifies the account, not the financial institution that holds that account. Therefore when the ACCT address type is selected, the Account Identification must always be used in conjunction with one of the Financial Institution Identification types in the table below.

When the address type is ACCT, the response from the Address Inputs API will automatically include a field for the Financial Institution Identification.

Using with a Proxy

In some countries, such as the Philippines, the same proxy can be registered to multiple financial institutions. Therefore it is necessary to collect the Financial Institution Identification for the Recipient. In these (rare) cases, the response from the Address Types API will automatically include a field for the Financial Institution Identification.

TABLE: Financial Institution Identification Types

The following Financial Institution Identification types are defined in ISO 20022.

CODE (ISO 20022)	MEANING	TYPE	NOTES
BICFI	Business Identifier Code for Financial Institution	Financial Institution Id	Used in conjunction with an Account Identifier (and in some countries, with the proxy)
LEI	Legal Entity Identifier	Financial Institution Id	We are not aware of any IPS that uses LEIs to address payments, but the ISO 20022 messages can support use of LEI.
ClrSysMmbId	(Non-BIC) Clearing System Member Id	Financial Institution Id	Used in conjunction with an Account Identifier. Maps to ISO 20022 element Financial Institution Identification > Clearing System Member Identification > Member Id