BICFI-ISO20022

BICFI (ISO 20022) is the <BICFI> XML element of the ISO 20022 dictionary that carries an ISO 9362 BIC inside the <FinInstnId> block.

Definition

<BICFI> is the main sub-element of <FinInstnId>. Its value is an 8- or 11-character BIC validated by regex [A-Z]{6}[A-Z2-9][A-NP-Z0-9]([A-Z0-9]{3}){0,1}. It is the primary bank-identification mechanism in pacs/pain/camt.

Origin

Introduced in the first ISO 20022 version (2004). Codifies the BIC inside the XML ecosystem, distinct from the 8-character 'bank' BIC and the 11-character 'branch' BIC.

Use

On a French pacs.008 to Deutsche Bank Frankfurt: <CdtrAgt><FinInstnId><BICFI>DEUTDEFFXXX</BICFI></FinInstnId></CdtrAgt>. The BICFI is validated against the SWIFT BIC Directory list on every reception.

Related terms

• BIC — ISO 9362 format.
• BICFI — general entry.
• FinInstnId — the container.
• ISO 20022 — the parent standard.