Example-iso-20022 Alternatives

example-iso-20022 reviews and mentions

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  Looking to XML schema of pacs.008.001.07 that I found here: https://github.com/yudhik/example-iso-20022/blob/master/src/...

  Each side of the payment (sender, receiver) has party identification (e.g. name and address), agent (i.e. a bank), and account.

  Account can be identified either by IBAN or by "generic account identification".

  IBAN is a string; first two characters are country code, the rest of the string is country-specific. (BIC is encoded in IBAN.)

  Generic account identification consists of a "schema" (one of predefined codes consisting of 1-4 characters, or a string description up to 35 characters), "issuer" (string up to 35 characters), and "id" (string up to 34 characters).

  I suppose banks have some lists that explain what all this means. Or rather, each bank knows the values that make sense for their customers, and just forward the information to other banks.

  This is general SWIFT. For SEPA payments, only IBAN is allowed as an account identifier. In other words, you cannot use SEPA without IBAN, but you can use IBAN without SEPA. IBAN is simply of many ways to identify an account. In general, the account is uniquely identified by the pair or bank identifier and account identifier, but in case of IBAN the bank identifier is redundantly also contained in the account identifier.