The “Invalid BIC” error when trying to carry out EUR withdrawals usually means that your bank is not part of the network of SEPA reachable banks or is located outside the SEPA zone (e.g. Turkey Kosovo, etc.). A full list of SEPA reachable BICs can be found by clicking here (PDF file).
You may also check if your bank is SEPA-reachable by entering your IBAN on a validator such as ibancalculator.com. In addition, this will help you verify that the IBAN´s checksum is correct (i.e. the IBAN is valid) and that you are providing the relevant BIC.
If your bank is part of the SEPA network but you still get the “Invalid BIC” error, this could mean that withdrawals to your bank are restricted because past withdrawals have frequently been rejected or returned. Please contact support for more information.
For clients using our default SEPA withdrawal option with Fidor AG:
There are certain rare combinations of IBAN and BIC where the first 2 letters of the IBAN do not match the 5th and 6th character in the BIC. This is typically seen with banks or branches of banks located in overseas regions, such as Isle of Man and Réunion. Unfortunately, our funding provider Fidor AG cannot process such transfers due to technical reasons. InCore or Bank Frick may be available as withdrawal options depending on your location. If this does not resolve your issue, please contact support.