BICFI
BIC for Financial Institutions (ISO 20022). See official source.
Definition
BICFI — XML element <BICFI> in the ISO 20022 schema that carries a BIC (ISO 9362) identifying a financial institution in a camt/pacs/pain payment message.
Origin
Introduced in the first versions of ISO 20022 schemas published by the SWIFT Standards Group from 2004. BICFI progressively replaced the BIC, BEI and BICOrBEI tags in SEPA schemas.
Use
In a pain.001.001.09 (SEPA Credit Transfer initiation), the debtor's agent is carried by <DbtrAgt><FinInstnId><BICFI></BICFI></FinInstnId></DbtrAgt>.