National Client Identifier

All foreign nationals are required to submit a National Client Identifier (NCI) to the Bank in order to trade with listed securities from 3 January 2018.

What is a National Client Identifier?

NCI stands for National Client Identifier and is an international identifier for individuals which financial institutions use in order to fulfil their reporting obligations to the regulatory authorities. The NCI varies between countries and may be based on personal identity number, tax identity number, passport number or a CONCAT code.

Who needs to provide an NCI?

All foreign nationals need to provide an NCI in order to trade with listed securities and financial instruments listed on a regulated securities market. Non-Icelandic nationals or dual nationals also need to provide an NCI, providing the higher priority identifier for the relevant country specified here . 

Individuals who only have Icelandic nationality are not required to provide an NCI.

How do I find my NCI?

You can see what NCI is required in different countries here. In most cases a personal identity number or passport number is required but in many cases a CONCAT code is needed.

A CONCAT code comprises the following:

  • Country code – two digit ISO code+
  • Date of birth – in the format YYYYMMDD (year-month-day)
  • First name – first five letters (# if name is less than five letters)
  • Surname – first five letters (# if name is less than five letters)

For example, Hans Maier, a German citizen born on 23 June 1965, has the CONCAT code DE19650623HANS#MAIER.

The NCI, name, Icelandic ID number and nationality should be submitted to Arion Bank at