An International Bank Account Number (IBAN) is a standard international numbering system developed to identify an overseas bank account. It is an internationally agreed-upon system of identifying bank accounts across national borders to facilitate the communication and processing of cross-border transactions with a reduced risk of transcription errors. An IBAN uniquely identifies the account of a customer at a financial institution. It was originally adopted by the European Committee for Banking Standards (ECBS) and since 1997 as the international standard ISO 13616 under the International Organization for Standardization (ISO) . The current version is ISO 13616:2020, which indicates the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as the formal registrar.
An IBAN number contains a two-letter country identification code, two check digits, and up to 30 characters for the Basic Bank Account Number (BBAN) . Each country decides the BBAN format to cater to its national standard for domestic payments. An IBAN does not replace a banks own account numbering, as it’s only meant to provide additional information that helps in identifying overseas payments.
IBANs are used to identify individual accounts involved in international transactions and to verify that transaction details are correct. They facilitate cross-border payments and help overseas banks identify bank accounts so that international payments can be sent or received. IBANs are used in most European countries and numerous countries in other parts of the world, mainly in the Middle East and the Caribbean. As of July 2023, 86 countries were using the IBAN numbering system.
It is possible to find your IBAN number by checking your bank statement, online banking account, or by contacting your bank's customer service.
