1. Cross Border User Guide
  2. Annexure
  3. PSD2 Compliance
  4. PSD2 Validations
  5. PSD2 Changes for Corporate BICs are part of the Payment Chain

PSD2 Changes for Corporate BICs are part of the Payment Chain

  • Currently, the originating bank country for PSD check is determined as below:
    • If field 52 exists, derive the originating country as the ordering institution country
    • If 52 is not available then check field 72 for BIC with code as INS
    • If both field 52 and 72 INS details are not available derive from sender BIC
  • It is possible that the resultant BIC in the chain is a corporate BIC. For corporate BICs, the BEI Indicator flag in ISTM_BIC_TYPE_CODE table will be ‘Y’.
  • In such cases, the BIC which comes next in the chain as the ordering institution will be considered by the system to determine the originating country.

Parent topic: PSD2 Validations