What Is IBAN? Everything You Need to Know About IBAN Number

IBAN, or International Bank Account Number, is a code used to make or receive international payments, and WHAT.EDU.VN is here to provide all the details you need to understand it fully. This code helps overseas banks identify your bank account, making international transactions smoother. Let’s explore the ins and outs of IBAN, its purpose, and how to find it, along with related concepts like SWIFT and BIC codes, ensuring you’re well-versed in international banking.
At WHAT.EDU.VN, we aim to simplify complex financial topics and provide clear, accessible information for everyone. You’ll also learn about SEPA, the IBAN registry, and the differences between IBAN and SWIFT codes, enhancing your knowledge of international financial systems.

1. What is an IBAN (International Bank Account Number)?

An IBAN, which stands for International Bank Account Number, is a standardized code used to identify a specific bank account in international transactions. Think of it as a unique identifier for your bank account that’s recognized worldwide.

1.1. Why is IBAN Important?

The primary reason for using an IBAN is to facilitate and streamline international money transfers. According to a study by the European Central Bank, the use of IBANs has reduced errors in cross-border payments by up to 80%. This reduction in errors leads to faster processing times and lower transaction costs.

1.2. Key Benefits of Using an IBAN

Reduced Errors: IBANs ensure that payments are routed correctly, minimizing the risk of errors.
Faster Transactions: With accurate account identification, transfers are processed more quickly.
Lower Costs: By reducing errors and streamlining processes, transaction costs are often lower.
Standardized Format: IBANs adhere to a standardized format, making them easy to recognize and validate.
Global Acceptance: Used in over 70 countries, IBANs are widely accepted for international payments.

1.3. How Does an IBAN Work?

An IBAN contains information that helps banks identify the country, bank, and specific account number involved in a transaction. This data is crucial for ensuring that the money reaches the correct destination.

1.4. IBAN Components

An IBAN consists of several key components:

Country Code: A two-letter code that identifies the country where the bank account is located (e.g., “DE” for Germany, “FR” for France).
Check Digits: Two digits that are used to validate the IBAN and ensure its accuracy.
Bank Identifier: A code that identifies the bank and its branch.
Account Number: The specific account number at the bank.

1.5. Example of an IBAN

Here’s an example of what an IBAN might look like:

GB29 NWBK 6016 1331 9268 19

In this example:

GB is the country code for the United Kingdom.
29 are the check digits.
NWBK is the bank identifier.
601613 is the sort code (branch identifier).
31926819 is the account number.

1.6. Countries That Use IBANs

IBANs are primarily used in European countries, but they are also utilized in many other parts of the world. Some notable countries that use IBANs include:

European Union (EU) member states
United Kingdom
Switzerland
Norway
Many countries in the Middle East and North Africa

1.7. Who Needs an IBAN?

If you frequently send or receive money internationally, particularly to or from countries that use the IBAN system, understanding and using IBANs is essential. It ensures that your transactions are processed smoothly and efficiently.

1.8. Where to Find Your IBAN

You can typically find your IBAN on your bank statement or through your bank’s online banking portal. If you’re having trouble locating it, you can also contact your bank directly for assistance.

1.9. IBAN Calculators

There are also online IBAN calculators that can help you generate an IBAN based on your bank details. These tools can be particularly useful if you need to provide your IBAN to someone but don’t have your bank statement handy.

1.10. IBAN Validation

Before using an IBAN, it’s a good idea to validate it to ensure that it’s correct. You can use online IBAN validation tools to check the format and accuracy of the IBAN.

1.11. Understanding the Role of WHAT.EDU.VN

At WHAT.EDU.VN, we understand that navigating the complexities of international banking can be challenging. That’s why we offer a platform where you can ask questions and get clear, accurate answers from experts in the field. Whether you’re wondering how to find your IBAN, how it works, or how it compares to other banking codes, we’re here to help.

1.12. Key Takeaways

An IBAN is a standardized code used to identify bank accounts in international transactions.
It helps reduce errors, speed up transactions, and lower costs.
IBANs consist of a country code, check digits, bank identifier, and account number.
They are primarily used in European countries but are also utilized in many other parts of the world.
You can find your IBAN on your bank statement or through your bank’s online banking portal.

2. What Does an IBAN Look Like?

Understanding the structure of an IBAN is crucial for recognizing and validating it. The format is standardized, but the length varies depending on the country.

2.1. General Structure of an IBAN

An IBAN consists of up to 34 alphanumeric characters and is divided into several parts:

Country Code: The first two letters indicate the country where the bank account is located.
Check Digits: The next two digits are used for validation purposes.
Basic Bank Account Number (BBAN): The remaining characters represent the domestic bank account number. This part varies in length and format depending on the country.

2.2. Detailed Breakdown of IBAN Components

Country Code: As mentioned earlier, this is a two-letter code that follows the ISO 3166-1 alpha-2 standard. For example, DE is for Germany, FR is for France, and GB is for the United Kingdom.
Check Digits: These two digits are calculated using a Mod-97 algorithm, which helps ensure the accuracy of the IBAN. Banks use these digits to verify that the IBAN is valid before processing a transaction.
Basic Bank Account Number (BBAN): This part of the IBAN contains the bank identifier, branch code, and account number. The structure of the BBAN varies from country to country.

2.3. Examples of IBAN Structures in Different Countries

To illustrate how the IBAN structure can vary, let’s look at a few examples:

Germany (DE): The IBAN consists of 22 characters. For example, DE89 3704 0044 0532 0130 00.
France (FR): The IBAN consists of 27 characters. For example, FR14 2004 1010 0505 0001 3M02 606.
United Kingdom (GB): The IBAN consists of 22 characters. For example, GB29 NWBK 6016 1331 9268 19.

2.4. Key Differences in BBAN Formats

The BBAN format is determined by each country’s national standards and can include different elements such as:

Bank Code: Identifies the specific bank.
Branch Code: Identifies the branch of the bank.
Account Number: The individual account number.

2.5. How to Validate an IBAN

Validating an IBAN is essential to ensure that the payment reaches the correct destination. Here are a few ways to validate an IBAN:

Check the Format: Ensure that the IBAN follows the correct format for the country.
Use an IBAN Validator: Online IBAN validation tools can check the format and accuracy of the IBAN.
Contact Your Bank: Your bank can verify the IBAN for you.

2.6. Why Validation is Important

Incorrect IBANs can lead to payment delays, additional fees, or even the payment being rejected. Validating the IBAN helps prevent these issues and ensures a smooth transaction.

2.7. Common Mistakes to Avoid

When providing or entering an IBAN, be aware of common mistakes such as:

Typos: Double-check the IBAN for any typos or errors.
Incorrect Format: Make sure the IBAN follows the correct format for the country.
Missing Characters: Ensure that all characters are included in the IBAN.

2.8. Role of Technology in IBAN Validation

Technological advancements have made it easier to validate IBANs. Many banks and financial institutions now offer automatic IBAN validation tools within their online banking platforms. These tools can quickly identify any errors in the IBAN and prevent incorrect payments.

2.9. Benefits of Understanding IBAN Structure

Understanding the structure of an IBAN provides several benefits:

Easier Identification: You can quickly identify the country and bank associated with the IBAN.
Improved Accuracy: You can double-check the IBAN for any errors or inconsistencies.
Enhanced Security: You can protect yourself from fraud by ensuring that the IBAN is valid.

2.10. How WHAT.EDU.VN Can Help

At WHAT.EDU.VN, we provide resources and information to help you understand the structure of IBANs and how to validate them. Our platform allows you to ask questions and get expert advice on international banking matters.

2.11. Key Takeaways

An IBAN consists of a country code, check digits, and a basic bank account number (BBAN).
The BBAN format varies depending on the country.
Validating an IBAN is essential to ensure that the payment reaches the correct destination.
Understanding the structure of an IBAN can help you identify errors and protect yourself from fraud.

3. IBAN vs. BIC (Bank Identifier Code)

When dealing with international bank transfers, it’s common to encounter both IBAN and BIC. While they both serve the purpose of identifying banks and accounts, they have different roles.

3.1. What is a BIC?

A BIC, or Bank Identifier Code, is also known as a SWIFT code. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. The SWIFT network is used to send secure messages between banks, including payment instructions.

3.2. Purpose of a BIC

The main purpose of a BIC is to identify a specific bank or branch in international transactions. It’s used to ensure that the payment is routed to the correct bank.

3.3. Structure of a BIC

A BIC consists of 8 or 11 characters:

Bank Code: The first four letters identify the bank.
Country Code: The next two letters identify the country.
Location Code: The next two characters identify the city or region.
Branch Code: The last three characters are optional and identify a specific branch.

3.4. Example of a BIC

Here’s an example of what a BIC might look like:

DEUTDEFFXXX

In this example:

DEUT is the bank code for Deutsche Bank.
DE is the country code for Germany.
FF is the location code for Frankfurt.
XXX is the branch code (in this case, the primary branch).

3.5. Key Differences Between IBAN and BIC

Feature	IBAN	BIC (SWIFT Code)
Purpose	Identifies a specific bank account	Identifies a specific bank or branch
Structure	Up to 34 alphanumeric characters	8 or 11 characters
Information	Includes country code, check digits, account number	Includes bank code, country code, location code, branch code
Usage	Required for transactions in many countries	Required for identifying the bank in international transactions

3.6. When to Use IBAN and BIC

IBAN: Use the IBAN when you need to provide the specific bank account number for an international transaction.
BIC: Use the BIC when you need to identify the bank in an international transaction.

In many cases, you’ll need to provide both the IBAN and BIC to ensure that the payment is processed correctly.

3.7. Finding the BIC

You can typically find the BIC on your bank statement or through your bank’s online banking portal. If you’re having trouble locating it, you can also contact your bank directly for assistance.

3.8. Importance of Accuracy

Providing accurate IBAN and BIC information is essential to avoid payment delays, additional fees, or even the payment being rejected. Always double-check the information before submitting it.

3.9. How Banks Use IBAN and BIC

Banks use IBAN and BIC codes to automate the processing of international payments. These codes allow banks to quickly identify the country, bank, and account number involved in a transaction, reducing the need for manual intervention.

3.10. The Role of SWIFT Network

The SWIFT network plays a crucial role in international banking. It provides a secure and reliable way for banks to communicate with each other and exchange payment instructions. Without the SWIFT network, international transactions would be much more complex and time-consuming.

3.11. How WHAT.EDU.VN Can Help

At WHAT.EDU.VN, we offer a platform where you can ask questions and get expert advice on international banking matters. Whether you’re wondering how to find your BIC, how it compares to IBAN, or how banks use these codes, we’re here to help.

:max_bytes(150000):strip_icc():format(webp)/dotdash_Final_Swift_Code_VS_Routing_Number_Sept_2020-01-4b44a8580d714069a34eb607a354069f.jpg)

3.12. Key Takeaways

A BIC (Bank Identifier Code) is also known as a SWIFT code.
It’s used to identify a specific bank or branch in international transactions.
An IBAN identifies a specific bank account, while a BIC identifies the bank.
In many cases, you’ll need to provide both the IBAN and BIC to ensure that the payment is processed correctly.

4. IBAN vs. SWIFT Code

While the terms IBAN and SWIFT code are often used interchangeably, they are not the same. Understanding the differences between them is crucial for ensuring smooth international transactions.

4.1. What is a SWIFT Code?

As mentioned earlier, SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. A SWIFT code is a unique identifier for a bank, used in international transactions.

4.2. Purpose of a SWIFT Code

The primary purpose of a SWIFT code is to identify a specific bank in international transactions. It ensures that the payment is routed to the correct bank, regardless of the country.

4.3. Structure of a SWIFT Code

A SWIFT code consists of 8 or 11 characters:

Bank Code: The first four letters identify the bank.
Country Code: The next two letters identify the country.
Location Code: The next two characters identify the city or region.
Branch Code: The last three characters are optional and identify a specific branch.

4.4. Example of a SWIFT Code

Here’s an example of what a SWIFT code might look like:

DEUTDEFFXXX

In this example:

DEUT is the bank code for Deutsche Bank.
DE is the country code for Germany.
FF is the location code for Frankfurt.
XXX is the branch code (in this case, the primary branch).

4.5. Key Differences Between IBAN and SWIFT Code

Feature	IBAN	SWIFT Code
Purpose	Identifies a specific bank account	Identifies a specific bank
Structure	Up to 34 alphanumeric characters	8 or 11 characters
Information	Includes country code, check digits, account number	Includes bank code, country code, location code, branch code
Usage	Required for transactions in many countries	Required for identifying the bank in international transactions

4.6. When to Use IBAN and SWIFT Code

IBAN: Use the IBAN when you need to provide the specific bank account number for an international transaction.
SWIFT Code: Use the SWIFT code when you need to identify the bank in an international transaction.

In many cases, you’ll need to provide both the IBAN and SWIFT code to ensure that the payment is processed correctly.

4.7. Finding the SWIFT Code

You can typically find the SWIFT code on your bank statement or through your bank’s online banking portal. If you’re having trouble locating it, you can also contact your bank directly for assistance.

4.8. Importance of Accuracy

Providing accurate IBAN and SWIFT code information is essential to avoid payment delays, additional fees, or even the payment being rejected. Always double-check the information before submitting it.

4.9. How Banks Use IBAN and SWIFT Code

Banks use IBAN and SWIFT codes to automate the processing of international payments. These codes allow banks to quickly identify the country, bank, and account number involved in a transaction, reducing the need for manual intervention.

4.10. The Role of SWIFT Network

4.11. How WHAT.EDU.VN Can Help

At WHAT.EDU.VN, we offer a platform where you can ask questions and get expert advice on international banking matters. Whether you’re wondering how to find your SWIFT code, how it compares to IBAN, or how banks use these codes, we’re here to help.

4.12. Key Takeaways

A SWIFT code is a unique identifier for a bank, used in international transactions.
An IBAN identifies a specific bank account, while a SWIFT code identifies the bank.
In many cases, you’ll need to provide both the IBAN and SWIFT code to ensure that the payment is processed correctly.

5. Examples of IBAN Numbers

To better understand how IBANs look in practice, let’s examine examples from different countries.

5.1. Germany (DE)

IBAN: DE89 3704 0044 0532 0130 00
Country Code: DE
Check Digits: 89
Bank Code: 3704
Bank Branch Code: 0044
Account Number: 0532 0130 00

5.2. France (FR)

IBAN: FR14 2004 1010 0505 0001 3M02 606
Country Code: FR
Check Digits: 14
Bank Code: 2004
Bank Branch Code: 1010
Account Number: 0505 0001 3M02 606

5.3. United Kingdom (GB)

IBAN: GB29 NWBK 6016 1331 9268 19
Country Code: GB
Check Digits: 29
Bank Code: NWBK
Bank Branch Code: 6016
Account Number: 1331 9268 19

5.4. Spain (ES)

IBAN: ES91 2100 0418 4502 0005 1332
Country Code: ES
Check Digits: 91
Bank Code: 2100
Bank Branch Code: 0418
Account Number: 4502 0005 1332

5.5. Italy (IT)

IBAN: IT60 X 02008 05319 000123456789
Country Code: IT
Check Digits: 60
Bank Code: 02008
Bank Branch Code: 05319
Account Number: 000123456789

5.6. Netherlands (NL)

IBAN: NL91 ABNA 0417 1643 00
Country Code: NL
Check Digits: 91
Bank Code: ABNA
Account Number: 0417 1643 00

5.7. Switzerland (CH)

IBAN: CH93 0076 2011 6238 5295 7
Country Code: CH
Check Digits: 93
Bank Code: 0076
Account Number: 2011 6238 5295 7

5.8. Norway (NO)

IBAN: NO93 8601 1117 947
Country Code: NO
Check Digits: 93
Bank Code: 8601
Account Number: 1117 947

5.9. Understanding the Variability

These examples illustrate how the length and structure of IBANs can vary from country to country. The country code and check digits are consistent, but the bank code, bank branch code, and account number formats differ based on national standards.

5.10. How to Use These Examples

These examples can be helpful for:

Recognizing IBANs: Familiarizing yourself with the general format of IBANs from different countries.
Validating IBANs: Checking if an IBAN you receive matches the expected format for its country.
Providing IBANs: Ensuring you provide the correct IBAN format when sending or receiving international payments.

5.11. Importance of Country-Specific Knowledge

When dealing with international transactions, it’s important to have country-specific knowledge about IBAN formats and requirements. This can help prevent errors and ensure that payments are processed smoothly.

5.12. How WHAT.EDU.VN Can Help

At WHAT.EDU.VN, we offer resources and information to help you understand IBAN formats and requirements for different countries. Our platform allows you to ask questions and get expert advice on international banking matters.

5.13. Key Takeaways

IBAN formats vary from country to country.
The country code and check digits are consistent, but the bank code, bank branch code, and account number formats differ.
These examples can be helpful for recognizing and validating IBANs.
Country-specific knowledge is important when dealing with international transactions.

6. How to Find Your IBAN Number

Finding your IBAN number is a straightforward process. Banks typically provide this information on your bank statements and through online banking portals.

6.1. Check Your Bank Statement

Your IBAN is usually printed on your bank statement. Look for it in the account details section. It may be labeled as “IBAN” or “International Bank Account Number.”

6.2. Use Online Banking

Most banks display your IBAN in their online banking portals. Log in to your account and navigate to the account details section. You should find your IBAN listed there.

6.3. Contact Your Bank

If you can’t find your IBAN on your bank statement or online, you can contact your bank directly. They will be able to provide you with your IBAN.

6.4. Use an IBAN Calculator

There are online IBAN calculators that can generate your IBAN based on your bank details. You’ll need to provide your bank code, branch code, and account number. However, be cautious when using these tools and ensure they are from reputable sources.

6.5. Check Your Bank’s Mobile App

Many banks now include IBAN information in their mobile apps. Log in to your app and navigate to the account details section to find your IBAN.

6.6. Look for IBAN on Checks

In some countries, the IBAN may be printed on your checks. Check the bottom of your checks for the IBAN.

6.7. Ask Customer Support

If you’re having trouble finding your IBAN, don’t hesitate to contact your bank’s customer support. They can guide you through the process and provide you with the information you need.

6.8. Importance of Accuracy

When providing your IBAN, it’s crucial to ensure that it’s accurate. Even a small error can cause payment delays or rejections. Double-check the IBAN before submitting it.

6.9. Tips for Keeping Your IBAN Safe

Only Share with Trusted Parties: Only provide your IBAN to trusted parties who need it for legitimate transactions.
Secure Your Bank Statements: Keep your bank statements in a secure location to prevent unauthorized access to your IBAN.
Be Cautious of Phishing Scams: Be wary of phishing emails or phone calls asking for your IBAN. Always verify the source before providing any information.

6.10. How WHAT.EDU.VN Can Help

At WHAT.EDU.VN, we provide resources and information to help you find your IBAN and use it safely. Our platform allows you to ask questions and get expert advice on international banking matters.

6.11. Key Takeaways

Your IBAN is usually printed on your bank statement and available through online banking.
You can contact your bank directly for assistance.
There are online IBAN calculators that can generate your IBAN.
Always ensure that your IBAN is accurate when providing it.
Take steps to keep your IBAN safe and prevent unauthorized access.

7. Does it Cost Money to Use an IBAN?

Using an IBAN itself doesn’t directly incur a cost. However, international bank transfers, which require IBANs, often involve fees. These fees can vary depending on the banks involved, the countries, and the amount being transferred.

7.1. Types of Fees Involved in International Transfers

Transfer Fees: These are fees charged by the sending bank for processing the international transfer.
Receiving Fees: These are fees charged by the receiving bank for accepting the international transfer.
Intermediary Fees: In some cases, intermediary banks may be involved in the transfer, and they may charge fees for their services.
Currency Conversion Fees: If the transfer involves converting currencies, there may be fees associated with the currency conversion.

7.2. Factors Affecting the Cost of International Transfers

Banks Involved: Different banks have different fee structures for international transfers.
Countries: The cost of international transfers can vary depending on the countries involved. Some countries have higher fees than others.
Amount Being Transferred: The fees may be a percentage of the amount being transferred or a fixed fee.
Currency Conversion: If the transfer involves converting currencies, the exchange rate and fees can affect the overall cost.

7.3. How to Minimize the Cost of International Transfers

Compare Fees: Compare the fees charged by different banks and money transfer services.
Use Online Money Transfer Services: Online money transfer services often have lower fees than traditional banks.
Choose the Right Currency: If possible, send the money in the local currency to avoid currency conversion fees.
Negotiate Fees: If you frequently make international transfers, you may be able to negotiate lower fees with your bank.

7.4. Transparency of Fees

It’s important to understand all the fees involved in an international transfer before initiating it. Banks and money transfer services are required to disclose their fees upfront.

7.5. Alternatives to Traditional Bank Transfers

There are several alternatives to traditional bank transfers that may be more cost-effective, such as:

Online Money Transfer Services: Services like PayPal, Wise (formerly TransferWise), and Remitly often have lower fees and better exchange rates than traditional banks.
Cryptocurrencies: Cryptocurrencies can be used to transfer money internationally, but they are subject to price volatility and regulatory risks.

7.6. Understanding Exchange Rates

When making international transfers, it’s important to understand the exchange rate being used. Banks and money transfer services may add a markup to the exchange rate, which can increase the cost of the transfer.

7.7. How WHAT.EDU.VN Can Help

At WHAT.EDU.VN, we provide resources and information to help you understand the costs associated with international transfers and how to minimize them. Our platform allows you to ask questions and get expert advice on international banking matters.

7.8. Key Takeaways

Using an IBAN itself doesn’t directly incur a cost.
International bank transfers, which require IBANs, often involve fees.
The fees can vary depending on the banks involved, the countries, and the amount being transferred.
Compare fees, use online money transfer services, and choose the right currency to minimize costs.
Understand the exchange rate being used and be aware of any markups.

8. Main Functions of an IBAN Number

IBANs play a crucial role in facilitating international bank transfers. They serve several key functions that help ensure the accuracy and efficiency of these transactions.

8.1. Identifying the Country of Origin

The first two letters of an IBAN represent the country code, which identifies the country where the bank account is located. This information is essential for routing the payment to the correct country.

8.2. Specifying the Bank and Branch

The bank code and branch code within the IBAN identify the specific bank and branch where the account is held. This information is crucial for directing the payment to the correct financial institution.

8.3. Identifying the Account Number

The account number within the IBAN specifies the unique account to which the payment should be credited. This ensures that the money is deposited into the correct account.

8.4. Ensuring Accuracy

The check digits within the IBAN are used to validate the accuracy of the IBAN. Banks use these digits to verify that the IBAN is valid before processing a transaction.

8.5. Automating Processing

IBANs allow banks to automate the processing of international payments. The standardized format and structured information within the IBAN make it easy for banks to quickly identify the country, bank, and account number involved in a transaction, reducing the need for manual intervention.

8.6. Reducing Errors

By providing a standardized and structured way to identify bank accounts, IBANs help reduce errors in international bank transfers. This leads to faster processing times and lower transaction costs.

8.7. Facilitating Cross-Border Payments

IBANs facilitate cross-border payments by providing a common identifier that is recognized by banks around the world. This makes it easier for individuals and businesses to send and receive money internationally.

8.8. Supporting Regulatory Compliance

IBANs support regulatory compliance by providing a clear and auditable trail of international transactions. This helps prevent money laundering and other financial crimes.

8.9. How WHAT.EDU.VN Can Help

At what.edu.vn, we provide resources and information to help you understand the functions of IBANs and how they facilitate international bank transfers. Our platform allows you to ask questions and get expert advice on international banking matters.

8.10. Key Takeaways

IBANs identify the country of origin, bank, branch, and account number.
They ensure accuracy and automate processing.
IBANs reduce errors and facilitate cross-border payments.
They support regulatory compliance.

9. Which Banks Use IBAN Numbers?

IBANs are primarily used in Europe, but they are also utilized in many other countries around the world. However, not all banks use IBANs.

9.1. Banks in Europe

Most banks in Europe use IBANs for international bank transfers. This includes banks in the European Union (EU), as well as banks in countries like Switzerland, Norway, and the United Kingdom.

9.2. Banks Outside of Europe

Many banks outside of Europe also use IBANs, particularly in the Middle East and North Africa. Some examples include banks in Saudi Arabia, the United Arab Emirates, and Egypt.

9.3. Banks in the United States

Banks in the United States do not typically use IBANs for domestic transactions. Instead, they use ABA routing numbers and account numbers. However, U.S. banks may use IBANs when sending money to foreign bank accounts.

9.4. Banks in Canada

Banks in Canada do not use IBANs. They use transit numbers and account numbers for domestic transactions.

9.5. Banks in Australia and New Zealand

Banks in Australia and New Zealand do not use IBANs. They use BSB codes and account numbers for domestic transactions.

9.6. How to Find Out if a Bank Uses IBANs

If you’re unsure whether a bank uses IBANs, you can contact the bank directly or check its website. The bank should be able to provide you with its IBAN information if it uses IBANs.

9.7. Alternative Identifiers

If a bank doesn’t use IBANs, you may need to use alternative identifiers, such as SWIFT codes, ABA routing numbers, or transit numbers, to make international transfers.

9.8. The Role of SWIFT Network

The SWIFT network is used by banks around the world to send secure messages and payment instructions. Even if a bank doesn’t use IBANs, it may still use SWIFT codes for international transactions.