Regulatory Alerts2025-04-24
Added · Updated
Circular Letter No. CC/2025/00000009: Rules for the Use of the Unique Identifier for Payment Accounts Domiciled with Payment Service Providers Established in Portugal (IBAN PT)
This Circular establishes the structure and usage rules for the IBAN PT, defining it as a 25-character alphanumeric identifier composed of the country code PT, control digits 50, and the Portuguese Basic Bank Account Number (BBAN/NIB). It specifies that only payment service providers established in Portugal, including credit institutions, payment institutions, electronic money institutions, financial companies, and certain public entities, are authorized to assign IBAN PTs, while explicitly prohibiting non-established entities from doing so. The document further designates Banco de Portugal as the contact point for IBAN-PT matters and ensures the permanent update of the IBAN Registry via SWIFT.
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