BIC

The BIC (Bank Identifier Code) is used to identify a financial institution in any international financial transaction. Each financial institution has its own BIC.

Related definitions

UMR

Stands for Unique mandate reference (UMR). It is a unique number enabling the identification of a direct debit mandate. The

PSD2

PSD2 is a directive introduced by the European Parliament to harmonize payment regulations within the European Union.

Bank statement

A bank statement summarizes the activity of a bank account. It lists all the banking operations carried out on the

Deposit slip

The deposit slip is a document handed over by a client to his banker, as part of a deposit or

SEPA

SEPA is the Single Euro Payment Area set up by European institutions in 2002 to simplify and harmonize payment procedures

Value date

The value date corresponds to the date on which a given bank transaction, whether debit or credit, is booked…

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