Lookup for BIC Code/ SWIT Code in Faroe Islands

Officially name:Faroe Islands (FO)

Capital: Tórshavn

National currency: Danish krone (DKK)

Cancellation: Payment instructions are revocable by request provided the beneficiary has not already been advised or credited.

Stop Payment of Cheques: Properly authorised requests for stop payment of cheques, preferably by MT111, are acceptable and a response will be given by MT112 or another authorised message normally within 24 hours upon receipt.
Correspondents requesting a stop payment should make sure; such item remains unpaid to date of their latest statement of account. Generally stop instructions are valid for 6 months.

Value Date(s): Bank Transfers - The amount will be credited to the beneficiary bank with same value as the value date stated in field 32 of the message provided that the message is received not later than above mentioned cut-off time.
Execution of Clean Payment Orders - Customer transfers with a valid account number allocated to field 59 (Beneficiary Customer) will, as a general rule, be executed to the credit of that account without any checking of its compliance with the customer name provided in that field.
Valid Danish account numbers include bank or branch identification and consist of ten to fourteen digits.