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Dear customer:
IBAN and SEPA are the results of European legislation.
IBAN stands for International Bank Account Number. From 1st February 2014, the Dutch IBAN will replace the existing 10 digit Dutch account numbers. The structured of the 18 digits Dutch IBAN as following:
· NL is the country code
· 2 check digits number
· 4 letters of the bank identifier
· 10 digits number
SEPA stands for “Single Euro Payments Area”.
BIC stands for Bank Identifier Code. Each bank has its own BIC.
What does it mean to you?
For the payments within the Netherlands and throughout the SEPA, the use of IBAN and BIC are mandatory from 1st February 2014.
Bank of China is ready to provide you with IBAN and BIC for SEPA payments. From 8th November 2013 you can use your IBAN and BIC (BKCHNL2R). You will receive letter informing the above changes.
For question regarding IBAN, SEPA and BIC, please call or send email to us.
Bank of China (Luxembourg) S.A. Rotterdam Branch
4 November 2013
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