Woalet

IBAN

International Bank Account Number - a standardized international bank account identifier used across European and many other countries.

Full Explanation

An IBAN (International Bank Account Number) is a standardized way to identify bank accounts internationally. IBANs are used primarily in Europe and some other regions. An IBAN contains the country code, check digits, and the domestic bank account number. For example, a UK IBAN starts with "GB". IBANs make international transfers more reliable by reducing errors.

Related Terms

SWIFT Transfer

An international bank transfer using the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network.

Wire Transfer

An electronic method of transferring money directly from one bank account to another, usually internationally.

Frequently Asked Questions

How long is an IBAN?

IBANs are 15-34 characters long depending on the country.

Do all countries use IBAN?

IBAN is used in Europe and some other regions. Not used in US, Canada, or most of Asia.

Is IBAN safer than account number?

Yes, IBAN includes check digits that validate the account number, reducing errors.

Can I find my IBAN?

Yes, check your bank statement or ask your bank. Usually available in online banking too.