The creditor identifier is a reference number that identifies the creditor within the direct debit system at European level, and comprises a creditor number followed by the ISO country code, two control digits and a business code. The country code is not directly related to any location feature or credit identity, and only specifies the country that issued the code. To make collections in any SEPA country, creditors need at least one identifier.

General structure of a SEPA creditor identifier:

• Positions 1-2: the ISO country code; 
• Positions 3-4: the check digits according to ISO 7064 Module 97-10; 
• Positions 5-7: the Creditor Business Code established by the creditor. If not used, then filled with ‘ZZZ’; 
• Positions 8-13: the creditor number.

Creditor identifiers issued in Portugal have the following format: PTAABBB123456

• Country: PT;
• Control digits: AA (control digits according to ISO 7064 Module 97-10);
• Creditor Business Code: BBB (ZZZ or a Creditor Business Code established by the creditor);
• Creditor identifier (PT): 123456.