Transition to new bank account numbers and bank identification numbers

22.01.2010

Please, contact the Bank to get information on new bank account numbers and bank identification numbers.

Kazkommertsbank would like to inform that from June 7, 2010 the new banking account numbers and bank identification numbers will be introduced in Kazakhstan, which will be based on the international standards ISO 13616: IBAN (International Bank Account Number) and ISO 9362: BIC (Bank Identification Code).

Transition to the widely used standards of banking instructions would improve the identification of the banks and their clients in the payment systems in Kazakhstan as well as speed up processing of international payments. Transition to the international standards plays significant role during integration of Kazakhstan to the global economy.

The new numbers of bank accounts and bank identification codes (IBAN and BIC) will be used both for payments within the Kazakhstan as well as for international payments.

IBAN in Kazakhstan will include 20 symbol-numerical ranks, and will look like the following:

KZ CC BBB X X X X X X X X X X X X X
Code of
Kazakhstan
        Control rank
            Digital code of bank (issued by the National Bank)
                   Internal bank number of account
  
To simplify the visual perception, the number of account might be paper-written with blank intervals between each four symbols:
KZCC BBBХ ХХХХ ХХХХ ХХХХ

However, the bank account number should be entered without any blanks when filling in to the payment order forms and other documentation in electronic format. No other abbreviations are allowed before the bank account number (for example, IBAN, A/C, Account No etc.).

BIC of the headquarters of the Kazakh banks will consist of 8 symbol-numerical ranks, and will look as follows:
BBBB KZ XX
Code of bank (capital letters, from its name)
          Code of Kazakhstan
                  Code of the location

Please note that bank account number and bank identification code should be indicated in the payment orders at any time.

According to the international standards, only the owner of the bank account has a right to issue new number of the bank account. Therefore, the individuals and corporates owning accounts in the banks in the Republic of Kazakhstan, should till June 7, 2010 (date of introduction of new banking settlement instructions) contact their respective bank to obtain IBAN. If a person/company has several accounts in different banks, the IBAN on each respective bank account will be obtained in the bank where the account was opened.

Starting from June 7, 2010 only new bank requisites based on international standards should be indicated for money transfers and transactions. To avoid return of transferred amounts and transaction due to indication of void account numbers and bank identification codes, starting from June 7, 2010, the individuals and corporates should timely inform their partners in Kazakhstan and abroad as well as other interested parties on new banking requisites and to obtain new IBAN and BIC of their partners in Kazakhstan.

The legal documentation on introduction of new bank requisites in Kazakhstan is available on the web-site of the national Bank in the section Payment systems/ Publications (www.nationalbank.kz).