International Bank Account Number (IBAN)

The International Bank Account Number (IBAN) is a standardized system of identifying bank accounts across national borders, facilitating international transactions. It consists of a series of Alphanumeric characters, which include a country code, Check digits, and the domestic bank account number. The length of the IBAN can vary by country, but it generally ranges from 15 to 34 characters.

For example, a UK IBAN might look like this: GB29 NWBK 6016 1331 9268 19, where:

  • GB is the country code for the United Kingdom.
  • 29 are the Check digits.
  • NWBK 6016 1331 9268 19 is the bank identifier and account number.

In Germany, an IBAN could be: DE44 1234 1234 1234 1234 00, where:

  • DE is the country code for Germany.
  • 44 are the Check digits.
  • 1234 1234 1234 1234 00 is the bank identifier and account number.

Using IBANs helps reduce errors and speeds up the processing of cross-border payments, making them essential for international banking.