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Thread: New IBAN and BIC\Swift codes to comply with UK government regs


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Permlink Replies: 10 - Pages: 1 - Last Post: Oct 24, 2017 8:13 AM Last Post By: blaze99
gordopolis

Posts: 50
Registered: 03/06/11
New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 22, 2017 7:19 AM
 
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Hi,

My bank (HSBC in the UK) sent me an email saying that on 21st October 2017 they were changing their IBAN and BIC/Swift details to comply with government ring-fencing regulations. The new numbers are longer than the previous ones. As I understand it, I need to make sure that any international payments (KDP being one such source) made to me post-Oct 21st use the new numbers.

But when I tried to update the payment/bank page on 'My Account', it wouldn't accept any combination of them. Has anyone else had a similar prompt from their bank and how did you resolve it with respect to kdp payments?

Thanks,
Gordon

Edited by: gordopolis on Oct 22, 2017 7:20 AM

Edited by: gordopolis on Oct 22, 2017 7:20 AM

Edited by: gordopolis on Oct 22, 2017 7:21 AM

Edited by: gordopolis on Oct 22, 2017 7:21 AM

Mrs Julia Evans

Posts: 600
Registered: 05/22/16
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 22, 2017 7:55 AM   in response to: gordopolis in response to: gordopolis
 
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Hi Gordopolis,

I'm in the UK and haven't heard anything about this. I'm not with HSBC, though I've still got accounts with several of the bigger banks.

Can you give us an example of how the new numbers are laid out? (USING FAKE NUMBERS, OBVIOUSY!)

The Amazon website hasn't been updated at all, and still says that your BIC/Swift code should be either 8 or 11 characters long. I'm surprised that HSBC would try something completely different.

Silly question, but you did tick the box to say you were using a UK bank, didn't you? I'm sure your answer will be yes, but I had to ask, and its an easy mistake to make.

Good lick. J
gordopolis

Posts: 50
Registered: 03/06/11
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 22, 2017 8:45 AM   in response to: Mrs Julia Evans in response to: Mrs Julia Evans
 
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Hi Julia

Thanks for your reply.

Yes I chose 'UK' when trying to set up a new bank account. The details of the govt regs thing are here:
https://blog.mid.as/2017/08/21/upcoming-banking-changes-affecting-electronic-payments-from-our-international-customers/

Cheers,
G

Edited by: gordopolis on Oct 22, 2017 8:45 AM

gordopolis

Posts: 50
Registered: 03/06/11
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 22, 2017 8:48 AM   in response to: Mrs Julia Evans in response to: Mrs Julia Evans
 
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...and here is the format of the new codes I have been given (anonymised!)

*can't post this for some reason even though I've anonymised it :( *

Cheers,
G

Edited by: gordopolis on Oct 22, 2017 8:48 AM
gordopolis

Posts: 50
Registered: 03/06/11
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 22, 2017 8:49 AM   in response to: Mrs Julia Evans in response to: Mrs Julia Evans
 
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B8: Alpha, alpha, alpha, alpha, alpha, alpha, numeric, alpha
B11: Alpha, alpha, alpha, alpha, alpha, alpha, numeric, numeric, numeric, numeric, alpha
IBAN: Alpha, alpha, numeric, numeric, alpha, alpha, alpha, alpha, numeric, numeric, numeric, numeric, numeric, numeric, numeric, numeric, numeric, numeric, numeric, numeric, numeric, numeric

Edited by: gordopolis on Oct 22, 2017 8:49 AM
Mrs Julia Evans

Posts: 600
Registered: 05/22/16
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 22, 2017 9:20 AM   in response to: gordopolis in response to: gordopolis
 
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Ok, so my IBAN is 22 characters and my BIC is 11 characters.

Where A = Alpha and N = Numeric, they appear as follows;

IBAN Starting with 'GB', my bank identifier (4 letters), followed by my full sort code and account number with no spaces.

That gives you GBAAAANNNNNNNNNNNNNN

The BIC is my bank identifier (4 letters as above) GB then random numbers and letters.

That gives you AAAAGBNNANN.

We both have the same number of characters in both, although occasionally you have numbers where I have letters and vice versa, so I really don't see why the Zon page won't accept yours.

From the HSBC literature, all they're changing is the account number and sort code, so the layout shouldn't have changed a bit.

Maybe the Zon's computer was just having a brainf*rt and you just need to go back in and try again today?

Not sure what else to suggest, sorry.

J
blaze99

Posts: 169
Registered: 02/23/12
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 23, 2017 7:09 AM   in response to: gordopolis in response to: gordopolis
 
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Hi

I'm having the same issue with the HSBC IBAN changes. I suspect the new numbers haven't actually gone live yet, even though we're after the 21st. HSBC are totally useless if you ask them for a solution.

I'll try again on 24th, but let us know if you notice anything different!
gordopolis

Posts: 50
Registered: 03/06/11
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 23, 2017 10:40 AM   in response to: blaze99 in response to: blaze99
 
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Thanks Blase & Julia,

Blaze, I hadn't thought of the fact it might just be that HSBC's new numbers aren't 'live', so when KDP's website tries to check and validate them it reports an error.

I'll keep checking too and post an update on here if/when things change.
Mrs Julia Evans

Posts: 600
Registered: 05/22/16
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 23, 2017 10:48 AM   in response to: gordopolis in response to: gordopolis
 
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Both,

It could just be that the new sort codes haven't been uploaded yet to Amazons systems so they think they're fake. I have a feeling they'll catch up, but it's seriously being cut a bit fine.

Did HSBC say that they wouldn't accept any payments at all after 21/10 if the wrong numbers were used? Normally banks have a transitional period where both are accepted, not just a hard and fast cut-off date.

I would be surprised if your payments weren't redirected to your new account if they arrived under the old number. It might just take a few days longer to get there.

Just my thoughts. J
blaze99

Posts: 169
Registered: 02/23/12
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 23, 2017 12:36 PM   in response to: Mrs Julia Evans in response to: Mrs Julia Evans
 
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Thanks for your help, Julia. Much appreciated.
blaze99

Posts: 169
Registered: 02/23/12
Re: New IBAN and BIC\Swift codes to comply with UK government regs
Posted: Oct 24, 2017 8:13 AM   in response to: gordopolis in response to: gordopolis
 
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Gordon, someone just posted a helpful reply in the 'General' forum about this.
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