IBAN Numbers

International Bank Account Numbers(IBAN)

IBAN stands for International Bank Account Number. It is the ISO 13616 international standard for numbering bank accounts. In 2006, the International Organization for Standardization (ISO) designated SWIFT as the Registration Authority for ISO 13616.

Before International Bank Account Numbers were adopted, different European countries had different bank account number formats, and this discrepancy led to errors in cross-border transactions. Then in 1997, the International Organization for Standardization (ISO) proposed a new system of global money movement. Today, this international standard is known as ISO 13616-2:2007. With the implementation of IBAN, there are very less chances of error in cross border financial transactions. IBAN system has resulted in safe, secure, accurate and timely execution of wire transfers.

IBAN system has implemented a validation check, to find the correctness of the beneficiary IBAN. Payment is not allowed to transferred if the IBAN validation fails.

Use of IBAN

The IBAN facilitates the communication and processing of cross-border financial transactions. It allows exchanging account identification details in a machine-readable form. IBAN is required to receive and make payments between the account holders of different member countires.

The ISO 13616 IBAN Standard

Structure

The IBAN structure is defined in ISO 13616-1 and consists of a two-letter ISO 3166-1 country code, followed by two check digits and up to thirty alphanumeric characters for a BBAN (Basic Bank Account Number) which has a fixed length per country and, included within it, a bank identifier with a fixed position and a fixed length per country. The check digits are calculated based on the scheme defined in ISO/IEC 7064 (MOD97-10).

Terms and definitions

Bank identifier

The identifier that uniquely identifies the financial institution and, when appropriate, the branch of that financial institution servicing an account In this registry, the branch identifier format is shown specifically, when present.

BBAN

basic bank account number: The identifier that uniquely identifies an individual account, at a specific financial institution, in a particular country. The BBAN includes a bank identifier of the financial institution servicing that account.

IBAN

international bank account number: The expanded version of the basic bank account number (BBAN), intended for use internationally. The IBAN uniquely identifies an individual account, at a specific financial institution, in a particular country.

Registration Authorities for IBAN

The Society for Worldwide Interbank Financial Telecommunication SCRL, SWIFT, has been designated by the ISO Technical Management Board to act as the Registration Authority for International Bank Account Numbers.

How to find IBAN for Bank Account Number?

If you are from a Country, which has implemented IBAN for financial transactions, then you can find IBAN in your Bank Statement. You can also find IBAN in your online Banking system, besides, you can ask also get IBAN from your Bank.

What does IBAN Contains?

IBAN number has a series of alphanumeric characters, all of which represent an important information to money transfer process. IBAN length is different for different countries but it is same for all the bank account holders of a country, i.e. UK's Banks Account Holders, IBAN length is 22 characters, France IBAN length is 27. In general, an IBAN number is divided into the following parts:
1. Country code : From left postion 1-2
2. Check digit code : position 3-4
3. Bank identifier code : length differs from country to country
4. Branch code : Not in all countries and length differs from country to country
5. Account number length differs from country to country
The last three (bank, branch, and account numbers) collectively make up the Basic Bank Account Number (BBAN).
To create an example, here's a hypothetical IBAN from a bank in Cyprus:
GB29NWBK60161331926819
Although IBANs are used without any spaces in financial transactions, for convenience we can add some here to make interpreting our fictitious IBAN a little easier.
GB 29 NWBK 601613 31926819
As you can see, United Kingdom uses 22 characters across five sections.
1. The first two characters are the ISO country code. GB is used for Great Britain.
2. The two digits following the country code (29) are the check digits. They help to validate the account number.
3. The next section (NWBK) is the bank code. Obviously, this identifies the specific bank that holds the account. NWBK has been assigned to NATIONAL WESTMINSTER BANK PLC.
4. The fourth string of characters (601613) is the branch code. NATIONAL WESTMINSTER BANK PLC Branch identifier, 601613.
5. Finally, we get to the last string of characters (31926819), which represent a Bank Account Number in NATIONAL WESTMINSTER BANK PLC.

List of IBAN Compliant Countries

Following countries has implemented IBAN standards for Payment Transfers. The countries are listed in alphabetical order by ISO 3166 country code.
Sr NoCountry NameCountry CodeIBAN LengthIBAN Electronic Format IBAN Paper Format
1AndorraAD24AD1200012030200359100100AD12 0001 2030 2003 5910 0100
2United Arab Emirates (The)AE23AE070331234567890123456AE07 0331 2345 6789 0123 456
3AlbaniaAL28AL47212110090000000235698741AL47 2121 1009 0000 0002 3569 8741
4AustriaAT20AT611904300234573201AT61 1904 3002 3457 3201
5AzerbaijanAZ28AZ21NABZ00000000137010001944AZ21 NABZ 0000 0000 1370 1000 1944
6Bosnia and HerzegovinaBA20BA391290079401028494BA39 1290 0794 0102 8494
7BelgiumBE16BE68539007547034BE68 5390 0754 7034
8BulgariaBG22BG80BNBG96611020345678BG80 BNBG 9661 1020 3456 78
9BahrainBH22BH67BMAG00001299123456BH67 BMAG 0000 1299 1234 56
10BrazilBR29BR1800360305000010009795493C1BR18 0036 0305 0000 1000 9795 493C 1
11Republic of BelarusBY28BY13NBRB3600900000002Z00AB00BY13 NBRB 3600 9000 0000 2Z00 AB00
12SwitzerlandCH21CH9300762011623852957CH93 0076 2011 6238 5295 7
13Costa RicaCR22CR05015202001026284066CR05 0152 0200 1026 2840 66
14CyprusCY28CY17002001280000001200527600CY17 0020 0128 0000 0012 0052 7600
15CzechiaCZ24CZ6508000000192000145399CZ65 0800 0000 1920 0014 5399
16GermanyDE22DE89370400440532013000DE89 3704 0044 0532 0130 00
17DenmarkDK18DK5000400440116243DK50 0040 0440 1162 43
18Dominican RepublicDO28DO28BAGR00000001212453611324DO28 BAGR 0000 0001 2124 5361 1324
19EstoniaEE20EE382200221020145685EE38 2200 2210 2014 5685
20EgyptEG29EG380019000500000000263180002EG380019000500000000263180002
21SpainES24ES9121000418450200051332ES91 2100 0418 4502 0005 1332
22FinlandFI18FI2112345600000785FI21 1234 5600 0007 85
23Faroe IslandsFO18FO6264600001631634FO62 6460 0001 6316 34
24FranceFR27FR1420041010050500013M02606FR14 2004 1010 0505 0001 3M02 606
25United KingdomGB22GB29NWBK60161331926819GB29 NWBK 6016 1331 9268 19
26GeorgiaGE22GE29NB0000000101904917GE29 NB00 0000 0101 9049 17
27GibraltarGI23GI75NWBK000000007099453GI75 NWBK 0000 0000 7099 453
28GreenlandGL18GL8964710001000206GL89 6471 0001 0002 06
29GreeceGR27GR1601101250000000012300695GR16 0110 1250 0000 0001 2300 695
30GuatemalaGT28GT82TRAJ01020000001210029690GT82 TRAJ 0102 0000 0012 1002 9690
31CroatiaHR21HR1210010051863000160HR12 1001 0051 8630 0016 0
32HungaryHU28HU42117730161111101800000000HU42 1177 3016 1111 1018 0000 0000
33IrelandIE22IE29AIBK93115212345678IE29 AIBK 9311 5212 3456 78
34IsraelIL23IL620108000000099999999IL62 0108 0000 0009 9999 999
35IraqIQ23IQ98NBIQ850123456789012IQ98 NBIQ 8501 2345 6789 012
36IcelandIS26IS140159260076545510730339IS14 0159 2600 7654 5510 7303 39
37ItalyIT27IT60X0542811101000000123456IT60 X054 2811 1010 0000 0123 456
38JordanJO30JO94CBJO0010000000000131000302JO94 CBJO 0010 0000 0000 0131 0003 02
39KuwaitKW30KW81CBKU0000000000001234560101KW81 CBKU 0000 0000 0000 1234 5601 01
40KazakhstanKZ20KZ86125KZT5004100100KZ86 125K ZT50 0410 0100
41LebanonLB28LB62099900000001001901229114LB62 0999 0000 0001 0019 0122 9114
42Saint LuciaLC32LC55HEMM000100010012001200023015LC55 HEMM 0001 0001 0012 0012 0002 3015
43LiechtensteinLI21LI21088100002324013AALI21 0881 0000 2324 013A A
44LithuaniaLT20LT121000011101001000LT12 1000 0111 0100 1000
45LuxembourgLU20LU280019400644750000LU28 0019 4006 4475 0000
46LatviaLV21LV80BANK0000435195001LV80 BANK 0000 4351 9500 1
47LibyaLY25LY83002048000020100120361LY83 002 048 000020100120361
48MonacoMC27MC5811222000010123456789030MC58 1122 2000 0101 2345 6789 030
49MoldovaMD24MD24AG000225100013104168MD24 AG00 0225 1000 1310 4168
50MontenegroME22ME25505000012345678951ME25 5050 0001 2345 6789 51
51MacedoniaMK19MK07250120000058984MK07 2501 2000 0058 984
52MauritaniaMR27MR1300020001010000123456753MR13 0002 0001 0100 0012 3456 753
53MaltaMT31MT84MALT011000012345MTLCAST001SMT84 MALT 0110 0001 2345 MTLC AST0 01S
54MauritiusMU30MU17BOMM0101101030300200000MURMU17 BOMM 0101 1010 3030 0200 000M UR
55Netherlands (The)NL18NL91ABNA0417164300NL91 ABNA 0417 1643 00
56NorwayNO15NO9386011117947NO93 8601 1117 947
57PakistanPK24PK36SCBL0000001123456702PK36 SCBL 0000 0011 2345 6702
58PolandPL28PL61109010140000071219812874PL61 1090 1014 0000 0712 1981 2874
59Palestine State ofPS29PS92PALS000000000400123456702PS92 PALS 0000 0000 0400 1234 5670 2
60PortugalPT25PT50000201231234567890154PT50 0002 0123 1234 5678 9015 4
61QatarQA29QA58DOHB00001234567890ABCDEFGQA58 DOHB 0000 1234 5678 90AB CDEF G
62RomaniaRO24RO49AAAA1B31007593840000RO49 AAAA 1B31 0075 9384 0000
63SerbiaRS22RS35260005601001611379RS35 2600 0560 1001 6113 79
64Saudi ArabiaSA24SA0380000000608010167519SA03 8000 0000 6080 1016 7519
65SeychellesSC31SC18SSCB11010000000000001497USDSC18 SSCB 1101 0000 0000 0000 1497 USD
66SwedenSE24SE4550000000058398257466SE45 5000 0000 0583 9825 7466
67SloveniaSI19SI56263300012039086SI56 2633 0001 2039 086
68SlovakiaSK24SK3112000000198742637541SK31 1200 0000 1987 4263 7541
69San MarinoSM27SM86U0322509800000000270100SM86 U032 2509 8000 0000 0270 100
70Sao Tome and PrincipeST25ST23000100010051845310146ST23 0001 0001 0051 8453 1014 6
71El SalvadorSV28SV62CENR00000000000000700025SV 62 CENR 00000000000000700025
72Timor-LesteTL23TL380080012345678910157TL38 0080 0123 4567 8910 157
73TunisiaTN24TN5910006035183598478831TN59 1000 6035 1835 9847 8831
74TurkeyTR26TR330006100519786457841326TR33 0006 1005 1978 6457 8413 26
75UkraineUA29UA213223130000026007233566001UA21 3223 1300 0002 6007 2335 6600 1
76Vatican City StateVA22VA59001123000012345678VA59 001 1230 0001 2345 678
77Virgin IslandsVG24VG96VPVG0000012345678901VG96 VPVG 0000 0123 4567 8901
78KosovoXK20XK051212012345678906XK05 1212 0123 4567 8906

What Is the Difference Between IBAN and SEPA?

The Single Euro Payment Area (SEPA), is a payment network in Europe that facilitate payment transfers within the European Union countries, Norway, Iceland, Switzerland, and Liechtenstein.
28 countries are member of SEPA Network. While 78 countries currently use the IBAN system. Multiple currencies can also be sent using IBAN, whereas only Euros can be used on the SEPA network. Now many countries in Middle East and the Caribbean have also begun using the IBAN system for digital money transfers.

IBAN, SWIFT and BIC

IBAN is International Bank Account No. IBAN is allotted to the Bank Account Holders of IBAN implementing agencies of the concerned contry as per the IBAN format.
SWIFT Code is the code allotted by The Society for Worldwide Interbank Financial Telecommunication SCRL, SWIFT, to the Bank Branches for transferring International Payments. BIC Code is called Bank Identification Code. As BIC are allotted SWIFT, so BIC codes are also called SWIFT Codes.

How International Payments Transferred without IBAN?

Bank Account Holders from one IBAN country can transfer payment to the Bank Account holder of another IBAN Country through IBAN. But the IBAN counties are only 78, so if you want to transfer payment from non IBAN Contires, then you need SWIFT Code of the Bank Branch, Account Number & domestic routing number of that particular branch. Major Banks are member of SWIFT for payment transfer and have implemented SWIFT Payment Transfer Modules in some of their branches.

The Society for Worldwide Interbank Financial Telecommunication SCRL (SWIFT) has allotted SWIFT Codes/BIC to Bank Branches performing International Payment Transfers, customers desirous of transferring payment internationally can approach these bank Branches to transfer payment to other countries. You can find country-wise, City-wise list of the Bank Branches, enabled for International Payment Transfer with SWIFT Codes from following link:
© 2024 Copyright: www.bbcodes.comPrivacy Policy