Business Party Suffix
Business Party Suffix. A two-character (2 alphanumeric) code associated with the individual institution or business
In the prior version of the standard, position 7 of the BIC determined the location of the BIC in a particular country. In a country spanning over multiple time zones, each character may have been used to define a different time zone. If an organization moved location to a different time zone within the same country, the existing BIC would normally have been deleted and replaced by a new BIC with the appropriate location code.
- ISO 9362:2014 Banking -- Banking telecommunication messages -- Business identifier code (BIC)
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