diff --git a/account_banking/data/account_banking_data.xml b/account_banking/data/account_banking_data.xml
index 3d47ad718..14ae6eafe 100644
--- a/account_banking/data/account_banking_data.xml
+++ b/account_banking/data/account_banking_data.xml
@@ -13,12 +13,5 @@
             <field eval="False" name="required"/>
             <field eval="False" name="readonly"/>
         </record>
-        <!-- 
-             BIC is not legally required
-             See https://bugs.launchpad.net/bugs/933472
-        -->
-        <record id="base_iban.bank_swift_field" model="res.partner.bank.type.field">
-            <field eval="False" name="required"/>
-        </record>
     </data>
 </openerp>
diff --git a/base_iban_bic_not_required/__init__.py b/base_iban_bic_not_required/__init__.py
new file mode 100644
index 000000000..16e8b082f
--- /dev/null
+++ b/base_iban_bic_not_required/__init__.py
@@ -0,0 +1 @@
+import model
diff --git a/base_iban_bic_not_required/__openerp__.py b/base_iban_bic_not_required/__openerp__.py
new file mode 100644
index 000000000..08a6fb582
--- /dev/null
+++ b/base_iban_bic_not_required/__openerp__.py
@@ -0,0 +1,47 @@
+# -*- coding: utf-8 -*-
+##############################################################################
+#
+#    Copyright (C) 2013 Therp BV (<http://therp.nl>).
+#    All Rights Reserved
+#
+#    This program is free software: you can redistribute it and/or modify
+#    it under the terms of the GNU Affero General Public License as
+#    published by the Free Software Foundation, either version 3 of the
+#    License, or (at your option) any later version.
+#
+#    This program is distributed in the hope that it will be useful,
+#    but WITHOUT ANY WARRANTY; without even the implied warranty of
+#    MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+#    GNU Affero General Public License for more details.
+#
+#    You should have received a copy of the GNU Affero General Public License
+#    along with this program.  If not, see <http://www.gnu.org/licenses/>.
+#
+##############################################################################
+
+{
+    'name': 'IBAN - Bic not required',
+    'version': '0.1',
+    'license': 'AGPL-3',
+    'author': 'Banking addons community',
+    'website': 'https://launchpad.net/banking-addons',
+    'category': 'Banking addons',
+    'depends': [
+        'base_iban',
+        ],
+    'description': '''
+The account_iban module in OpenERP mandates the presence of a BIC
+code on an IBAN account number through a constraint. However, as of
+Februari 2012 there is a resolution from the EU that drops this requirement
+(see section 8 of [1]). This module reverts the constraint on BICs in the
+base_iban module.
+
+See also https://bugs.launchpad.net/openobject-addons/+bug/933472
+
+[1] http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//TEXT+TA+P7-TA-2012-0037+0+DOC+XML+V0//EN&language=EN#BKMD-9
+    ''',
+    'data': [
+        'data/res_partner_bank_type_field.xml',
+        ],
+    'installable': True,
+}
diff --git a/base_iban_bic_not_required/data/res_partner_bank_type_field.xml b/base_iban_bic_not_required/data/res_partner_bank_type_field.xml
new file mode 100644
index 000000000..274347a4d
--- /dev/null
+++ b/base_iban_bic_not_required/data/res_partner_bank_type_field.xml
@@ -0,0 +1,9 @@
+<?xml version="1.0" encoding="utf-8"?>
+<openerp>
+    <data>
+        <record id="base_iban.bank_swift_field"
+                model="res.partner.bank.type.field">
+            <field eval="False" name="required"/>
+        </record>
+    </data>
+</openerp>
diff --git a/base_iban_bic_not_required/model/__init__.py b/base_iban_bic_not_required/model/__init__.py
new file mode 100644
index 000000000..3f2925496
--- /dev/null
+++ b/base_iban_bic_not_required/model/__init__.py
@@ -0,0 +1 @@
+import res_partner_bank
diff --git a/base_iban_bic_not_required/model/res_partner_bank.py b/base_iban_bic_not_required/model/res_partner_bank.py
new file mode 100644
index 000000000..126e628bd
--- /dev/null
+++ b/base_iban_bic_not_required/model/res_partner_bank.py
@@ -0,0 +1,38 @@
+# -*- coding: utf-8 -*-
+##############################################################################
+#
+#    Copyright (C) 2013 Therp BV (<http://therp.nl>).
+#    All Rights Reserved
+#
+#    This program is free software: you can redistribute it and/or modify
+#    it under the terms of the GNU Affero General Public License as
+#    published by the Free Software Foundation, either version 3 of the
+#    License, or (at your option) any later version.
+#
+#    This program is distributed in the hope that it will be useful,
+#    but WITHOUT ANY WARRANTY; without even the implied warranty of
+#    MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+#    GNU Affero General Public License for more details.
+#
+#    You should have received a copy of the GNU Affero General Public License
+#    along with this program.  If not, see <http://www.gnu.org/licenses/>.
+#
+##############################################################################
+from openerp.osv import orm
+
+
+class res_partner_bank(orm.Model):
+    _inherit = 'res.partner.bank'
+
+    def _check_bank(self, cr, uid, ids, context=None):
+        #suppress base_iban's constraint to enforce BICs for IBANs
+        #workaround for lp:933472
+        return True
+
+    # Redefine constraint to update its function reference
+    _constraints = [
+        (_check_bank, 
+         '\nPlease define BIC/Swift code on bank for bank '
+         'type IBAN Account to make valid payments',
+         ['bic'])
+    ]