Institute identification
The institute identification (IID), formerly BC number ( bank clearing number ), is used in Switzerland and Liechtenstein to identify the financial institutions that are connected to the SIC ( Swiss Interbank Clearing ) or the euroSIC system. The SIC is a joint venture between the Swiss banks that processes payments in Swiss francs . EuroSIC processes payments in euros . The IID consists of 5 digits and is part of the International Bank Account Number (IBAN). In Germany and Austria , a Business Identifier Code (BIC; also known as SWIFT code) is used to identify financial institutions .
Structure of the IID
The first position of the IID represents the institute:
Digit | Institute |
---|---|
1 | Swiss National Bank |
2 | UBS AG |
3 | reserve |
4th | Credit Suisse Group AG |
5 | New Aargauer Bank |
6th | Regional banks of RBA-Holding AG |
7th | Cantonal banks |
8th | Raiffeisen banks , individual institutes |
9 | PostFinance AG |