I’m trying to get bank key information from Industry and Commercial Bank of China, but nobody has an idea about it both the customer service contact and the local bank officer. Where can I find it?
Bank Key may have different meaning in different countries. This is an identification of bank account in addition to the Account Number.
For example in UK, Bank Key field contains Sort Code which is branch identification of a particular branch. In some cases it may be the bank Account Number itself. In that case the Bank Account number will be repeated twice (Bank Account Number field and Bank Key field).
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In SPRO you define this in the ‘Set Country Specific Checks’. Here you have 4 options – Bank Number, Assign Internally, Assign Externally and Obsolete. As per this set-up you will have to enter Bank Key.
In SAP, you can use IFSC code or MICR code as Bank Key.IFSC will be the Bank Key as a first priority, if IFSC is not available MICRcode will be the Bank key.
In my system the bank key for “Industry and Commercial Bank of China” is configured as “ICBKCNBJBJM”…same as the Swift #….the same can also be entered in the “Swift code” field of the bank master.
The only way to find it is to Google it unless your company’s AP dept. knows/finds it.
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Hope that helps!
Our company also faced this issue when we want to find a special code to setup as bank key. We tried our best to solve it. At the end, we use thesequence number as our bank key.
You will be able to get the information from Central Bank of thatcountry or ask the Clearing section of the commercial bank of china.This is the key with which the interbank clearing takes place.
Hope this piece information would help you.
Ask the Clearing section of the commercial Bank of China.This is the key with which the interbank clearing takes place.
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