It is important to facilitate the execution of cross-border payments by payment service providers. In that respect, standardisation should be promoted as regards, in particular, the use of the International Bank Account Number (IBAN) and the Bank Identifier Code (BIC). It is therefore appropriate that payment service providers provide payment service users with the IBAN and the BIC for the account in question.
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New version applies from 18/04/2019 — introduced by Regulation (EU) 2019/518.
26 provisions change.
Later versions: 15/12/2019, 19/04/2020, 19/04/2021, 19/08/2021.
Recital 9 changes in this version: compare with the current text.