Glossary item

Ordering Institution ID

If a financial institution makes a payment on behalf of another financial institution, it's known as the Ordering institution.
When the Ordering institution makes the payment, they must provide their ID to comply with FATF guidelines. (All Financial Institutions have a unique institution ID.) In this situation it's called the Ordering institution ID. The ID defaults to your bank identifier code (BIC) - BIC format is preferred, but you may also enter a National Clearing Code (NCC), such as a sort code.

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