Deposits by Faster Payments, Direct Debit, BACS, CHAPS or standing order can be made, quoting the following details:
- Beneficiary account number
The eight digit account number of the person or company receiving the funds
- Beneficiary name
The name of the person or company receiving the funds
- Bank sort code
Your Al Rayan Bank IBAN and BIC have changed
What are IBAN and BIC?
IBAN stands for ‘International Bank Account Number’ and BIC stands for ’Business Identifier Code’. BIC is also sometimes referred to as a SWIFT Code or Bank Identifier Code. You use these when making or receiving international payments.
How has it changed?
Previously, all Al Rayan Bank accounts shared the same IBAN and BIC. From August 2017, all Al Rayan Bank accounts have an individual IBAN, and the Bank has its own BIC. Here is an example of your new IBAN, and new Al Rayan Bank BIC:
Does this replace my sort code or account number?
No, your new IBAN and BIC do not replace your sort code or account number - these are additional codes with extra information to help overseas banks identify your Bank and account number when making or receiving international payments.
Where will I see this new IBAN and BIC shown?
Your new IBAN and BIC appear on your bank statements from August 2017.
Do I need to do anything?
No, the change has happened automatically. All you need to do is ensure that anybody making an international payment into your account references your new IBAN and the Bank’s new BIC.