The IBAN is starting today the unique identifier of bank accounts, replacing the NIB, but the transfers ordered in ATM network boxes will continue to be made based on NIB.

The IBAN – International Bank Account Number (‘International Bank Account Number’) adds to the NIB – Bank Identification Number country code (PT) and two digits control (50), but despite the ATM network keyboards only have numbers, the Bank of Portugal, in a clarification Lusa, said it will not require any change in the ATM network keyboards because these ATMs transfers will continue to be based on the NIB.

The replacement of the IBAN by the NIB follows the creation of the single payments area (SEPA, its acronym in English) for credit transfer transactions and direct debits, which began in 2002 and was now complete, date from which all SEPA transactions are now initiated indicating the IBAN of the payer and payee accounts.

Although there are no changes in transfers in the ATM network, the Bank of Portugal left a note: “Regulation 260/2012 [laying down the requirements of SEPA transfers] requires the use of IBAN to carry out credit transfers and direct debits and Technically, the transfers ordered from automated teller machines are card transactions. ”

Also the entity that manages the ATM network, SIBS, reinforced Lusa that transfers the ATM remain available to network users, “unchanged, as this is a specific operation of the national payment system.”

“Financial institutions have been following these processes in order to minimize the impact to their customers in the adoption of the new rules,” the SIBS.

The canals of ‘home banking’ [perform banking operations via Internet], SIBS clarified that, although transfers are SEPA, financial institutions may continue to accept the NIB as proof of identity, providing mechanisms to facilitate the indication of IBAN by the user, “as long as the user to confirm / view the IBAN before submitting the payment transaction.”

To date, the IBAN has been used only in international operations and the NIB in operations within the same banking system or country, but from now on the IBAN is now used both to make transfers to an account based on a Portuguese bank as a foreign and cease to exist difference in identifiers.

[Source]