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Our platform performs various mathematical checksum calculations in order to determine if the bank account you entered is valid.
#HSBC IBAN VALIDATOR SOFTWARE#
In conjunction with Petra Financial, HSBC also offers a service for the wholesale cleansing of back-office (payables or receivables) records. provides Software as a Service (SaaS) solutions designed to validate and calculate International Bank Account Number (IBAN). The tool is available either on-line or on a CD. Real-time Payment Validation of sort code and bank account number with Modulus check and bank Directory lookup. "By incorporating this STP tool as an integral part of a global BIC lookup application, we feel we have gone a long way towards meeting our clients' needs." "It has proved difficult for many of our financial institution and corporate clients to get hold of the information needed to complete a payment in accordance with the new standards," he says. Paul Nixon, senior product manager, financial institutions, global payments and cash management, Europe, HSBC Bank Plc, says the switch is already having an impact on many of the bank's clients worldwide. Industry observers believe the conversion to the new standards represents a potential stumbling block for straight-through processing under Sepa as corporates struggle to source the correct counterparty codes.
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Additionally, several European countries have adopted Iban as part of their own domestic payment standard. The Bank is not liable for any damages which may arise if incorrect information is inputted at your end. Under the Single Euro Payments Area, the use of BIC and Iban to identify the bank and account of the beneficiary has become mandatory for all cross-border payments in euros within the region. Account number: IBAN: Disclaimer: The IBAN Validator and IBAN Converter will provide you with the validation of a BOV IBAN and the conversion of a BOV account number to an IBAN respectively. The new tool will allow clients to validate Bank Identifier Codes (BIC) and International Bank Numbering (Iban) details before payment submission or, if required, to derive these details from a bank name, address and BBAN (Basic Bank Account Number), subject to counterparty verification.