What is an IBAN?

What is an IBAN?

IBAN is an acronym of International Bank Account Number, being an international standard created by the Society for Worldwide International Financial Telecommunication in order to standardize bank accounts internationally.

What is IBAN for?

The IBAN code makes it easy for banks in different countries to identify your bank account, reducing the chance of errors or communication failures when processing international payments. The IBAN contains a maximum of 34 characters between numbers and letters, including the country code, bank identification number, two check digits, and the bank account number, among other information necessary for the transfer.

You may need an IBAN for international transfers.

What countries use IBAN?

While a number of countries process foreign payments using IBAN numbers, they aren’t used across the entire world. Over 70 countries have adopted the IBAN numbering system, however notable exceptions include the USA, Australia, and New Zealand. In addition, the regulations in some countries deem the use of IBAN numbering as mandatory, while others simply recommend it.

Most of Europe use IBAN codes, as do some areas of Africa, Central America and the Middle East.

How long is an IBAN number?

The IBAN can be between 16 to 34 alphanumeric characters long, depending on the bank account of the country of origin. In the United Kingdom, for example, the IBAN contains 22 characters and will always start with the letters GB and followed by the number 29.

How to find an IBAN code?

Finding an IBAN number is relatively simple, but it can vary depending on the country where the current account is located. Most digital platforms or account statements will provide your IBAN and BIC/SWIFT code.

If your bank is in the United Kingdom, you can find your IBAN in your digital access or APP and also in your statement. In the same way that for everyone who has a bank account in the UK it would be created with the following information:

ISO code 

Check code

First 4 digits of the BIC (SWIFT or BIC)

Account ID

Account number

Below is an example of what a UK IBAN would look like. This example would be for a fictitious Barclays customer Account Code: 01-01-01 and as account number: 0202020202.

GB29 BUKB 0101 0102 0202 02

If you’re having trouble finding or figuring out your IBAN, it’s always a good idea to speak to your bank either in person or over the phone to ask where to find your IBAN before potentially providing the wrong one and adding complications to receiving funds.

Why choose moneycorp?

120+ currencies to choose from

120+ currencies to choose from

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Verification of documentation safely

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