IBAN and BIC code attribution and management process

IBAN and BIC codes

A uniform account number structure called IBAN, together with a harmonised code identifying the bank at which the account is held, known as the BIC code is in place to improve the performance of cross-border payment systems. Up to date IBAN LUX and BIC codes are available for download at the bottom of the page.

Background information

Pursuant to Regulation (EU) No 260/2012 of the European Parliament and of the Council of 14 March 2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009 (SEPA Regulation), which entered into force on 31 March 2012, since the 1 February 2014 the IBAN is to be used to identify payment accounts when making credit transfers and direct debits. As payment service users are not required to provide the BIC when ordering a payment, it is the payment service providers to supply BIC’s.

Since January 2002, all supervised entities in Luxembourg opening accounts and offering payment services to customers within the legal framework mentioned above, have to issue IBAN / BIC identified bank accounts.

This rule also applies to a branch licensed to offer financial services in Luxembourg as it directly effects, in whole or in part, operations related to the payment service provider. If, amongst these operations, it opens (payment) accounts on behalf of its clients, it is to be considered as the institution servicing the account and the business party, with LU as identifier in both codes.

The IBAN standard (ISO 13616-1) clearly states that the “the first two letters shall always be the two-character country code (alpha-2 code), as defined in ISO 3166-1, of the country in which the financial institution servicing the account resides;” (for Luxembourg: LU).

The structure of the IBAN number (International Bank Account Number)

« IBAN » + country code (2 letters) + check characters (2 digits) + national number (fixed length for each country).
Only the bank which holds the account is authorised to generate the IBAN account number.

IBAN is based on the addition of information to the existing standard national formats. This enhances the accuracy of a bank account number to be checked, regardless of the country of origin. Uniform information is also available to facilitate automatic processing (country code, bank code, account number, check number or check digit).

For accounts held with Luxembourg banks an IBAN number takes the following form:
IBAN LU97 8881 2345 6789 0123.

Characteristics of the Luxembourg format:

Fixed length of 20 alphanumerical characters according to standard EBS 204 (upper case characters from A to Z and 0 to 9).
Structure and characteristics of the data :

  • Positions 1 and 2 : Country code: alphabetical code complying with standard ISO 3166 (i.e. “LU”)
  • Positions 3 and 4 : Check-digit: numerical zone in compliance with standard ISO 7064
  • Positions 5 to 20 : BBAN (Basic Bank Account Number) of which :
    • Positions 5 to 7 : bank code assigned by the ABBL in agreement with Luxembourg  supervisors.
    • Positions 8 to 20 : Identification number freely available to each bank (13 alphanumerical characters in compliance with standard EBS204; upper case characters from A to Z and 0 to 9)

BIC code – attribution

The BIC code stands for “Business Identifier Code” and is an international standard for identification of institutions within the financial services industry (ISO 9362:2014 and ISO 3166-1). BICs are used in automated processing. They unambiguously identify a financial institution or a non-financial institution and are used for addressing messages, routing business transactions and identifying business parties.
The ISO 9362 standard specifies the elements and the structure of a BIC. A BIC consists of either eight or eleven contiguous characters.
These characters comprise either the first three, or all four, of the following components: business party prefix , country code, party suffix, and branch identifier.

AAAA BB CC DDD

  • First 4 characters (alphanumeric)- business party prefix
  • Next 2 characters (alphabetic) – country code as defined in ISO 3166-1 with country is “where the Business Party is located”, i.e. “LU” for organisations located in the Grand-Duchy of Luxembourg.
  • Next 2 characters (alphanumeric) – business party suffix
  • Last 3 characters (alphanumeric) and (optional) – Business party suffix (i.e. branch identifier used to identify specific locations, departments, services or units of the same business party); optional (“XXX” for primary office)

The International Organization for Standardization has designated SWIFT as the BIC registration authority. The BIC code will be assigned by SWIFT on the supervised entity’s request.

If you give instructions for a cross-border payment to be made, you are advised:

  • to ask the beneficiary to supply you with the IBAN and BIC numbers for the account to be credited;
  • to state these IBAN and BIC numbers on the transfer order addressed to your bank.

IBAN Code (Bank Code) – Attribution

A supervised entity opening IBAN / BIC identified bank accounts and offering payment services to customers has to submit a request for registration to ABBL by mail: ibanbic@abbl.lu.
The following information is needed:

  • identification number attributed by CSSF (and published on the CSSF’s website)
  • BIC Code provided by SWIFT to the requesting entity
  • date when the IBAN/BIC codes shall become operational

IBAN and BIC Codes – Publication

ABBL is manages the Luxembourg IBAN / BIC registry in coordination with the Luxembourg supervisors on behalf of the Luxembourg PSP (Payment Service Provider) community.

An up to date version may be downloaded below as well as a document showing of the recent changes.
In case of discrepancies or errors in the table IBAN-BIC Code table: send an email to ABBL: ibanbic@abbl.lu

Contact

Association des Banques et Banquiers, Luxembourg

Address

12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.