IBAN (International Bank Account Number)

An IBAN is a standardised international bank account identifier defined by ISO 13616. It consists of a two-letter country code, two check digits, and a Basic Bank Account Number (BBAN) of up to 30 alphanumeric characters. For example, a UK IBAN begins with 'GB', followed by two check digits, then 4 digits for the bank code, 6 digits for the account sorting code, and the account number. IBANs are used throughout the EU, EEA, and approximately 80+ countries for SEPA (Single Euro Payments Area) payments and cross-border transfers. The check digits employ mod-97-10 validation to detect transcription errors. Notably, IBANs are not used domestically in the United States, Canada, or Australia. While the IBAN uniquely identifies a specific bank account, the associated BIC (Bank Identifier Code) or SWIFT code identifies the bank itself. Together, IBAN and BIC enable efficient international fund transfers and comply with regulatory requirements for cross-border payments.