Both must be correct or payment will be rejected. This delay is not the first that the FSA has been forced to announce (see our coverage here): the launch has been delayed for nearly two years, as the regulator has struggled to get its current surveillance system up to scratch in order to be able to process transaction reports for AII transactions. Both of these will accept and validate AII records in their live production environments but these transaction reports will not be sent to the FSA but will instead be deleted by the ARM. The Swift organization issues the Bank Identifier Numbers or BIC. This is going to be a real hassle to start your car or jump on your scooter to go to the nearest bank and once you got there, you find yourself standing in a very long queue. The Swift numbers are valid worldwide.

Country	City	Bank Name	Branch	SWIFT
Germany	Nuernberg	Teambank AG	Teambank AG	TEAMDE71XXX
Germany	Nuernberg	Teambank AG	Teambank AG	TEAMDE71TAT