TN 57 (10-14)

GN 02402.367 Coding Monaco Bank Data on the Master Beneficiary Record (MBR)

This section describes how to code bank data for international direct deposit (IDD) of Title II benefits to a financial institution (FI) in Monaco. The Social Security Administration (SSA) stores IDD bank data on the MBR in the same fields used for United States (U.S.) direct deposit. Special coding identifies the data as a Monaco direct deposit and allows us to route benefit payments through the Federal Reserve Bank of Kansas City (FRBKC) and the processor bank in Monaco to the beneficiary's local FI.

NOTE: U.S. domestic (i.e., non-border) field offices (FOs) should not attempt to process an IDD request for this country. U.S. domestic FOs must forward all appropriate information to Office of Earnings and International Operations (OEIO) for processing. For more information on forwarding IDD information, see GN 02402.205C, GN 01010.255, and GN 01702.310C).

A. How we receive IDD Bank data

We receive requests to input bank data by mail, phone, or fax in the following formats:

  • a blank check;

  • an SSA-1199-OP37 (International Direct Deposit Signup Form for Monaco) (For the link to the form see GN 02402.367G in this section); or

  • any document that contains the required banking information.

NOTE: If upon receipt of the information, there are any discrepancies, follow instructions in GN 00203.020 and GN 02402.025.

B. Multi-country contract

The processing FI in Monaco has a prefix of 71 at the beginning of the Routing Transit Number (RTN).

C. Overview of IDD for Monaco

The beneficiary must provide complete information to DIO or the Federal Benefits Unit (FBU) for input. DIO will fax incomplete forms to the FBU that serves Monaco. The FBU contacts the beneficiary or FI for additional information.

D. Description of Monaco IDD bank data

The data for coding IDD for Monaco comes from the International Bank Account Number (IBAN) provided to the beneficiary from his or her FI. The IBAN is 27 characters. However, the bank data reflected on the MBR consists of 25 characters including the country code of “E” for Monaco.

E. Policy for coding Monaco bank data

The FRBKC relies on SSA to provide the complete bank data to ensure correct posting of payments to a customer’s account. If the information is incomplete, the FRBKC rejects the payment and returns the funds to SSA. When establishing or changing IDD bank data for Monaco, you can use an SSA system (i.e., Modernized Claims System (MCS), Manual Adjustment Credit and Award Data Entry (MACADE), etc.). However, you must go to to enter the full IBAN and Society for Worldwide Internet Financial Telecommunication-Business Identifier Code (SWIFT-BIC). If the complete bank account information is not in when the payment processes, the payment rejects and returns to SSA. When using, bank data posts to the MBR within four business days.

The SWIFT code consists of 8 to 11 alphanumeric characters. When an eight-digit code is present, it refers to the primary office:

  • First four characters - bank code (only letters);

  • Next two characters - ISO 3166-1 alpha-2 country code (only letters);

  • Next two characters - location code (letters and digits) (passive participant have "1" in the second character); and

  • Last three characters - branch code, optional ('XXX' for primary office) (letters and digits).

1. Initial award processing of IDD

Secure IBAN and SWIFT-BIC coding from the beneficiary at the time of filing. The FBU inputs an initial IDD claim if the beneficiary elects the option of direct deposit. All initial IDD claims that an FBU takes for Monaco require input into and an SSA system (i.e., MCS, MACADE, etc.) on the same day. You must complete all initial claims that the International Benefits Office (IBO) takes. All initial claims taken by the IBO involving IDD for Monaco also require input into and an SSA system (i.e., MCS, MACADE, etc.) on the same day.

NOTE: If there is dire need or hardship involved, advise the beneficiary of the option of initiating payment via a paper check. Inform the beneficiary that the bank may charge for cashing the check. If the beneficiary chooses the option of paper check, the FBU documents and processes the initial claim.

2. Adding or updating bank data using SSA systems

All changes to direct deposit information for Monaco require input into and an SSA system (i.e., Post Entitlement Online System (POS), MACADE, etc…) on the same day. Enter all POS direct deposit changes according to normal procedures. When coding IDD bank data in an SSA system for Monaco within four business days of the current operational month (COM) cutoff date, use the procedure outlined in the following chart:




Are you coding an initial claim?

If yes, go to step 3.

If no, go to step 2.


Is the beneficiary's address on the MBR in a foreign country (PCOC = 8)? If no, STOP.

REASON: The MBR does not accept the International Direct Deposit (IDD) information unless the address is in a foreign country.

If yes, go to step 3.


Is the beneficiary's account a U.S. dollar account in Monaco? If yes, STOP.

REASON: Beneficiaries in Monaco can only receive IDD payments in Euro accounts.

If no, go to step 4.


To derive the 9-digit RTN for Monaco, code as follows:

  • Code the prefix of 71, (the multi-country prefix SSA and FRBKC designated to use for IDD to Monaco).

  • Code the 5-digit bank code.

  • Code the first digit of the 5-digit the branch code.

  • Code the one-digit check code (obtain through Title II Interactive Comps)

NOTE: The final digit is the U.S. check digit code and is subject to change. Obtain check digit code through the Title II Interactive Comps from the Main Menus 07/Sub Menu 16.


Code the Type of Account as an “S” for savings or a “C” for checking. If no indicated account type, use a “C” for checking account.


To code the Depositor Account Number (DAN) for Monaco, code as follows:

  • Start with a country code of “E” designated for Monaco

  • Code the last four digits of the five-digit branch code.

  • Code the last 11-digit Customer Account Number.


All IDD payments made in Euros must include the applicable IBAN and SWIFT-BIC codes. Technicians must code this information in and an SSA system (i.e., MACADE, MCS) on the same day.

F. Example of coding Monaco direct deposit

The customer provides us with a signup form for Monaco containing the following information: IBAN MC1112739000700011111000H79

NOTE: The first characters of the Monaco IBAN are “MC,” which represents the International Organization for Standardization (ISO) country code. The third and fourth characters of the IBAN are the IBAN check digit. The technicians should never code the IBAN country code or check digit to the MBR. The next five characters of the IBAN represent the five-digit bank code. The next five characters represent the five-digit branch code. The next 11 characters of the IBAN represent the 11-digit account number.

1. Derive the RTN as follows

  • Code the prefix of 71;

  • Code the five-digit bank code “12739”;

  • Code the first digit of the five-digit branch code “0”;

  • Code the one-digit check code (i.e., 6) (obtained from the Title II interactive Comps from the Main Menus 07/Sub Menu 16); and

  • Code the type of account as a “C” for Checking or an “S” for Savings. If no account type indicated, use a “C” for Checking.

2. Derive the DAN as follows

  • Start with a country code of “E” designated for Monaco;

  • Code the last four digits of the five-digit branch code “0070”; and

  • Code the 11-digit account number “0011111000H”.

3. Coding in reflects:

IBAN: MC1112739000700011111000H79 SWIFT: Full code (example: AZFMMCMC)

The technician obtains the following:

RTN: 711273906


DAN: E00700011111000H

The coding in an SSA System reflects:






The MBR reflects the following information:

RTN- 711273906 DAN- E00700011111000H

G. Exhibit of IDD Enrollment Form for Monaco

To view this form, go toSSA-1199-OP37.

To Link to this section - Use this URL:
GN 02402.367 - Coding Monaco Bank Data on the Master Beneficiary Record (MBR) - 02/13/2018
Batch run: 07/09/2019