Actualization of BICs codes on line

Currently, SWIFT activates new BICs on its network on a quarterly basis, with publication of valid BICs distributed through paper products and CD products. From January 2007, the changes to the FIN database will happen on a monthly basis, with activations taking place on the first Saturday of each month. The corresponding updated version of the BIC Directory will be published on SWIFT’s website and through SWIFTNet one week prior to the activation date.

Exception made for the first publication date end December 2006

To get ready for this new monthly cycle, SWIFT users must put in place new processes. Since the first publication/activation cycle will take place in a period of reduced activity / staffing, SWIFT wants to provide more time to users to update their databases and other applications within their FIN environment.

To ensure a smooth migration to a monthly update cycle, the first publication date of the BIC files is therefore brought forward to 27 December 2006, eight working days before their activation on the SWIFT network.

For detailed information, please refer to below links:

· BIC Directory publication schedule.

· Information paper: monthly BIC publication and activation

· Tip 59665: FAQs about the monthly BIC publication

· Article: 22 Sep - Users invited to test the download of monthly BIC publication files

· Article: Users urged to prepare now for monthly BIC publication and activation