Overview

The default IBAN of the account of the Beneficiary/BeneficiaryIBANAccount 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 IBAN (International Bank Account Number) of the institution’s bank account that should be shown as the beneficiary, or receiving party, on verification QR codes and related payment information. An IBAN is a standard international format for identifying a specific bank account.

Where It Is Used

This setting affects the beneficiary account 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 account’s IBAN as free text.

Business Logic / Behavior

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

Example(s)

Example National Institute collects tuition payments into an account at Example National Bank with the IBAN XX00 0000 0000 0000 0000 00. The finance office enters this IBAN into the Beneficiary IBAN Account setting so that verification QR codes generated on invoices point payers’ banking apps to the correct account.

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 account 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 BIC Code setting.

• The default BIC code of the Beneficiary/BeneficiaryBICCode (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.