What is 'BIK' in SAP FI-BL - Bank Accounting?

BIK - Overview

• Component: FI-BL

• Component Name: Bank Accounting

• Description: The bank identification code, as used in Russia.

BIK - Details

• 
  Key Concepts: 
  BIK stands for Bank International Key. It is a unique identifier used to identify a bank in the SAP system. It is used to identify the bank in the FI-BL Bank Accounting component of SAP. 
  
  How to use it: 
  The BIK is used to identify a bank in the FI-BL Bank Accounting component of SAP. It is used when setting up a new bank account or when making payments to an existing bank account. The BIK can be found in the bank master data and is used to ensure that payments are sent to the correct bank. 
  
  Tips & Tricks: 
  When entering a BIK, make sure that it is entered correctly as it is used to ensure that payments are sent to the correct bank. If the BIK is incorrect, payments may be sent to the wrong bank and may not be recoverable. 
  
  Related Information: 
  The BIK can be found in the bank master data and is used in conjunction with other information such as the IBAN (International Bank Account Number) and SWIFT (Society for Worldwide Interbank Financial Telecommunication) code.