Overview

The default BIC code of the Beneficiary/BeneficiaryBICCode is a setting located under Financial Settings > General Settings > Other Payments, in the Transactions Verification Codes sub-group.

What This Setting Does

This setting stores the BIC (Bank Identifier Code, also known as a SWIFT code) of the institution’s bank account that should be shown as the beneficiary, or receiving party, on verification QR codes and related payment information. A BIC code is a standard international code that identifies a specific bank.

Where It Is Used

This setting affects the beneficiary bank information embedded in verification QR codes generated on invoices or payment documents. The setting is configured at:

• Main Menu > Financial Settings > General Settings > Other Payments > Transactions Verification Codes – this is where the institution enters its bank’s BIC/SWIFT code as free text.

Business Logic / Behavior

• This is a free-text field where the institution enters its bank’s BIC/SWIFT code.
• The value entered here is used as the beneficiary bank identifier within the verification QR code content, typically alongside the beneficiary IBAN.
• If left blank, verification QR codes that require a beneficiary BIC are incomplete or fail to generate correctly.

Example(s)

Example National Institute holds its main tuition collection account at Example National Bank, which has the BIC code EXNBXXAB. The finance office enters EXNBXXAB into the Beneficiary BIC Code setting so that verification QR codes generated on invoices correctly point payers’ banking apps to Example National Bank.

When to Use

Enter this value once the institution has decided to use verification QR codes that include bank transfer details, so that the beneficiary bank is correctly identified on generated documents.

Notes

Prerequisite: this setting is only meaningful once Enable transactions unique verification QrCodes for the following types/EnableTransactionsUniqueVerificationQrCodes is turned on for relevant document types, and typically works together with the Beneficiary IBAN Account setting.

• The default IBAN of the account of the Beneficiary/BeneficiaryIBANAccount (Financial Settings > General Settings > Other Payments > Transactions Verification Codes)
• Verification QrCode Type/VerificationQrCodeType (Financial Settings > General Settings > Other Payments > Transactions Verification Codes)
• Enable transactions unique verification QrCodes for the following types/EnableTransactionsUniqueVerificationQrCodes (Financial Settings > General Settings > Other Payments > Transactions Verification Codes)

K-12 vs Higher Education: This setting behaves the same regardless of whether Higher Education Mode (Enable Configuration for Higher Education/Xrisi_parametropoihshs_kolegiou) is enabled or disabled.