Iban to Account Number

The BIC ( Bank Identifier Code ) is essentially the same as the SWIFT code . They are just called differently by different financial institutions .

What is IBAN number

The IBAN number makes international bank transfers easier and quicker.

The International Bank Account Number is a global system for identifying bank accounts. It’s used to make international money transfers .

IBAN was primarily designed by the ECBS ( European Committee for Banking Standards ) to facilitate money transfers inside the European Union . Today, 77 countries in South America, the Middle East , Asia, and the Caribbean all implement the IBAN numbering system for international transfers.

The IBAN format : What does IBAN look like?

An IBAN code contains a mix of uppercase letters and numbers. The length ranges from as few as 15 (in Norway ) up to as many as 34 alphanumeric characters .

Usually, shorter IBAN codes are used in Europe while longer ones are outside of Europe .

An International Bank Account Number consists of:

1. National Bank Code ( Country code ) – two letters that represent the country according to ISO standard
2. Check digits – two numbers used as the bank identifier with the ISO
3. BIC bank code – four in total either letters or numbers, depending on the country and the bank
4. Bank and branch code – expressed in numbers, the length may vary depending on the bank and country
5. Account number – expressed in numbers, the length may vary depending on the bank and country
6. Check digits – two numbers that identify an account in the bank

Together, parts 4, 5, and 6 on the list make something that’s called a Basic Bank Account number ( BBAN ). So, your actual bank account would consist of the bank code , branch code (or sort code ), your account number, and the check digits .

You can verify a IBAN by using the European Central Bank’s IBAN checker .

What is the purpose of IBAN ?

The IBAN makes international banking easier, overcoming some of the challenges of global payroll and improving the processing time of global wire transfers . Banks use this international standard to identify specific bank accounts when conducting international financial transactions. It makes international payments simpler to conduct because it shows all the necessary information in one line of alphanumeric characters . The IBAN ’s built-in check digits also help prevent typos.

IBAN FAQs

What is my IBAN ? How do I find my IBAN code ?

Your IBAN identifies your account in the international banking system. It separates your specific bank account from all the others in the world with a series of letters and numbers.

Just by looking at your IBAN , another bank can automatically determine which country and bank you have an account in.

There are several ways to find your IBAN code :

• Look it up on your bank statement or on online banking
• Contact your bank and request the information
• Ask your personal banker

• DIY: figure out the identifier letters and digits for your country and add your bank account (but be careful, as missing one digit on the routing number can cause your payments to be delayed or go to the wrong person)
• You can use an IBAN calculator to combine your account number with your bank’s details

What do I use my IBAN for?

Share your International Bank Account Number to receive international payments from outside of your country.

What is a BIC code ?

The BIC ( Bank Identifier Code ) is essentially the same as the SWIFT code . They are just called differently by different financial institutions .

Can I use my domestic account’s IBAN for payments in other currencies?

It depends on your bank or country. If you receive a payment in a foreign currency, some banks may automatically convert the funds to your domestic currency. Other banks may reject the transfer. It’s recommended to open an account in the specific currency you are receiving. This will allow you to avoid any unfavorable exchange rates and ensure a smooth transfer.

IBAN number vs SWIFT code – what is the difference?

The IBAN is used to identify your particular bank account while the SWIFT code is only used to identify your bank.

SWIFT ( Society for Worldwide Interbank Financial Telecommunication ) is a global network of financial institutions that enables banks around the world to perform international transactions and check account details .

Each bank has a unique SWIFT code . The SWIFT/ BIC code consists of uppercase letters and follows naming rules set by the International Organization for Standardization ( ISO ).

If you use SWIFT, you need to provide additional details separately to find the exact bank account. For example, to send an international transfer to Canada , you need a SWIFT code , a TRANSIT number, and an ACCOUNT number.

What is SEPA and how does it affect my IBAN ?

SEPA is a transfer system used between countries of the European Union . SEPA transfers only use Euros. You use your IBAN to make SEPA transfers.

Can I use my IBAN to send or receive payments outside of Europe ?

Yes. Although IBAN originated for European countries , the IBAN system can be used to transfer payments outside of Europe .

However, not all cross-border payments use the IBAN system . Some countries use other systems. For example, the United States uses a combination of ABA and the SWIFT system . That means paying foreign independent contractors may require collecting different account details .

Iban to Account Number

In this guide, we’ll look at how to find your account number from an IBAN, the breakdown of an IBAN, and what other information you might need when sending money to friends and family abroad.

An IBAN – International Bank Account Number – is used for identifying a specific bank account for international money transfers and transactions. Along with your SWIFT/BIC code, any time you are sending your money to another bank account abroad, you are likely to be asked for the corresponding IBAN for that account. In this quick guide, we’ll cover how to find your account number from your IBAN.

At a glance.

IBAN Breakdown

• AA-BB-CCCC-DDDDDD-EEEEEEEE
• AA: Country code: the country that the bank account is held in
• BB: Check digits: enable the sending bank to perform a security check of the routing destination.
• CCCC: Bank identifier: This code identifies the account holder’s bank.
• DDDDDD: Sort code
• EEEEEEEE: Account number

How to find your account number within your IBAN

If you know your IBAN, finding your account number will be very straight forward. The account number is the last 8-digits of your IBAN, and will be the same as the account number associated with whatever account is receiving funds.

The middle set of digits are your branch sort code, while the first 8-digits are your BIC code.

Where else to find your account number:

If you don’t have your IBAN code to hand, there are other ways you can find your account number, which include:

• Logging in to your online banking and viewing your account information there
• Phoning your bank to request your details
• Visiting your local branch in-person
• Looking on a bank statement

How to know if you have the correct IBAN?

If you want to verify the validity of the IBAN you have been given, you can use an IBAN checker. An IBAN checker will validate all the separate components of the IBAN you provide so you feel confident that your international payment will be processed correctly and accurately.

Related content

Article Factchecked by Elliot Laybourne on 20th July 2022. Elliott is a former investment banker with a 20 year career in the city of London. During this time he held senior roles at ABN Amro, Societe Generale, Marex Financial and Natixis bank, specialising in commodity derivatives and options market-making. During this time, Elliott’s client list included Goldman Sachs, JP Morgan, Credit Suisse, Schroders Asset Management, and the Pennsylvania State Public School Employees Retirement System, amongst others.

Yasmin Purnell is a Content Writer and Editor for Moneytransfers.com. Yasmin has a wealth of experience writing across a range of topics within the personal finance, student, and business niche. Yasmin joined the team with the one main mission to provide accessible financial, career and business information and advice for all.

What is an IBAN number?

IBAN numbers, or International Bank Account Numbers, are used for fast and secure payments both domestically and internationally. Unique to you and your account, this number offers a safeguarding system that checks account data before sending funds between international banks. Up to 34 letters and numbers, each set of characters in an IBAN provides information on your account to verify it during the transaction.

Why IBAN numbers were created

The IBAN system was designed to simplify the transfer of money overseas—but they’re used in some countries for domestic transfers as well. Separate from your account number and sort code, they include information about the account holder’s specific bank, the country that this bank is in, and a combination of other account details. This added level of coded security reduces transaction errors, rejected payments, and transfer delays across borders. IBANs can only be used to send or receive funds, and they can’t be used for other transactions, such as cash withdrawals.

IBAN characters, explained

Each character set of an IBAN number shares a specific piece of information with banks. They begin with a two-letter country code—such as ‘FR’ for France and ‘DE’ for Germany. The next two digits are control checks, acting as a security layer specific to your bank. The remaining numbers are domestic banking details, also known as your Basic Bank Account Numbers (BBAN). The BBAN information will typically include a bank code and branch reference, as well as the account number—although formats can differ across IBAN regions.

How an IBAN number works

When you make a cross-border transaction, the characters that make up your IBAN number are run through the payments system used by your bank. By verifying the numbers and letters against their database, the system is able to confirm the sender’s account and that of the recipient. Special algorithms are used to digest and check the account information. If it’s valid, the payment will be processed.

How an IBAN number works

When you make a cross-border transaction, the characters that make up your IBAN number are run through the payments system used by your bank. By verifying the numbers and letters against their database, the system is able to confirm the sender’s account and that of the recipient. Special algorithms are used to digest and check the account information. If it’s valid, the payment will be processed.

Who uses IBAN numbers?

Although IBAN numbers were originally designed for payments between Eurozone banks, they’re now used in 70+ countries worldwide. In places like Canada or the US, IBAN numbers haven’t been adopted, and they’re not required for transferring funds to those countries. However, they are needed when making an international transaction to a country that has adopted the system.