Simply put, an IBAN is a longer version of your Bank Account Number and a BIC is a longer version of the associated Sort Code.
- A United Kingdom bank account with account number "98765432" would have an IBAN of "GB82 WEST 1234 5698 7654 32"
- The same Bank account with sort code "12-34-56" would have a BIC of "NWBKGB2L".
We request this information from you during setup of you PayOurSchool account so that we can make settlements to a bank account of the money your parents have paid. They have to be in a standardised format accepted and used across all systems that send (your parents) and receive (your school) money.
Your Bank will be able to provide the correct details if you do not have them to hand although most banks make this information accessible via internet banking and some provide online help as to how to find this. NatWest for example have this page available.
Posted in: PayOurSchool FAQs