No coding is necessary to pair. It should pair to a phone the moment you install it in your car.

Is it the exact same part number or newer? If you got a TCU from a 2004 model year car, it will not have Bluetooth.

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SOLD
2000 E38 750iL Highline Edition, Upgraded with the lastest 2006 X5 Electronics
MKIV Navigation, 16:9 Display, Bluetooth, TV/Video with Backup Camera, Sirius, and Aux Input