payment
What do SEPA, IBAN and BIC mean?
SEPA stands for Single Euro Payments Area. This is the name given to the new uniform regulation for national and European payment transactions. The IBAN (International Bank Account Number) is a number that will replace all national account details (in Germany, account number and bank code). The BIC (Business Identifier Code) is an internationally standardized bank code (comparable to the bank code in Germany) with which payment service providers can be uniquely identified worldwide.