IBAN
IBAN is an initiative being driven by the European Commission and banks across Europe to introduce a standard account number format for use with cross border payments in Europe
» History and background
It became mandatory for Banks in the EU to issue IBANs, on request, on all accounts from 31 December 2001, which resulted in the requirement for Banks to display IBAN & BICs on customer statements from 1 July 2003.
» EPC Resolution
The European Payments Council (EPC) has issued a resolution, which is mandatory for all Banks in the EU & EEA area.
» What is an IBAN?
IBAN stands for International Bank Account Number and always used in conjunction with a Bank Identifier Code (BIC)
» What does an IBAN look like?
The IBAN is a series of alphanumeric characters that uniquely identifies an account held at a bank
» Electronic and printed forms of an IBAN
When an IBAN is printed in paper form, for example on an invoice, the IBAN may be split into groups of four characters to make it easier to read. When an IBAN is processed electronically it must not contain blank spaces and must not include the word 'IBAN'.
» How do IBANs work?
The beneficiary bank will recognise the payment as destined for that country from its country code. It extracts the domestic account number from the IBAN and uses it to pay the funds to the beneficiary's account.
» Check the validity of an IBAN
The IBAN Checker can check the format of an IBAN (International Bank Account Number) that originates from a member or joining country of the EU or the EEA, plus Switzerland
» Frequently asked questions
Answers to your questions regarding BIC and IBAN when sending or receiving funds.
Find out more
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