Payables & Cash Management

Get Involved. Join the Conversation.

Topic

    Anjali Bisht
    DERIVE BANK ACCOUNT NUMBER FROM IBAN- 18C Feature
    Topic posted October 18, 2019 by Anjali BishtRed Ribbon: 250+ Points, tagged Cash Management, Financials, Payables 
    24 Views, 4 Comments
    Title:
    DERIVE BANK ACCOUNT NUMBER FROM IBAN- 18C Feature
    Summary:
    DERIVE BANK ACCOUNT NUMBER FROM IBAN
    Content:

    Hi All,

    I just wanted to understand how does the account number get derived from the IBAN code i.e. where is the feed coming from, is it internally mentioned by Oracle or some 3rd party system? We are planning to enable this feature but before opting for it would like to understand from where is the feed coming from and will only enabling the feature suffice the need or do we need to have any other integration in place for the account number to automatically get generated when IBAN is entered.

    Regards

    Anjali Bisht

    Comment

     

    • Julien Dubouis

      Hi Anjali, 
      You don't need to do anything, it is a basic concatenate function that is reversed, depending on t;he country. In France for instance, we take FR +2 characters + bank code + branch code + 11 characters of the account number + a modulo key. Oracle just de-concatenates to take the account number.

      Regards

    • Anjali Bisht

      Hi Julien,

      Thank you so much , makes complete sense to me now.  Is there a document as well on this for reference?

      Regards

      Anjali Bisht

      • Julien Dubouis

        I haven't found any country-restrictions in Oracle documentation so I would assume all the countries using IBAN would be covered by Oracle. The whole list and rules of derivation is clearly explained in the Wikipedia article about IBANs: https://en.wikipedia.org/wiki/International_Bank_Account_Number

        • Anjali Bisht

          Thanks Julien.

           

          Do you suspect any additional setup for this feature to work?  Are we just supposed to enable the feature -DERIVE BANK ACCOUNT NUMBER FROM IBAN and business can start creating supplier banks  at the supplier site level(payment tab) and just enter the IBAN number and save. Will this actually result in account number to automatically populate ?

          Regards

          Anjali Bisht