Archived 2023.08.11. Content moved to Payees
A Data Holder (DH) may use internal routing as opposed to BIC codes or similar. Where a DH offers payments utilising internal systems, does payee information for these transactions need to be shared? The data does not include conventional routing, so shared payee data may be incomplete.
There is no reason not to share payee information in this case. The only mandatory fields for an international payee are the
address of the bank which, for an internal customer, are known by definition. Presumably the routing codes for your own institutions are also known.