If you are attempting to transfer funds from or to your payzy account, but you are shown an error code, or the transfer is bouncing back, you can do the following:
Check the recipient's data.
Make sure that they are filled in correctly in the relevant fields (Name-Last Name, IBAN, and BIC for international transfers). Be particularly careful with the BIC (Bank Identifier Code).
Pay attention to the “X”s in the BIC (Bank Identifier Code).
In many cases you may find three “X”s at the end of this number. These “X”s are placeholders for the bank's branch code. Don't include them in the relevant field in the payzy app.
Instant Credit Transfers (SCT Inst).
Cosmote Payments does not currently support Instant Credit Transfers (SCT Inst). Banks may use specific BICs to process this type of transactions, something which may affect your transfer.
What can you do?
We suggest reaching out to your bank to ask them: If there is a general BIC of the bank that you can use.
If it’s possible to use it in combination with your existing IBAN so you can complete the transfer that way.
If the process has been completed, but the transfer amount has not yet been credited the the recipient, check whether the required period has elapsed.