What is IBAN
IBAN
IBAN ( International Bank Account Number) is an international standard of numbering bank accounts. It has been developed to eliminate problems resulting from various baking standards in the EU countries. Works on introduction of a uniform bank account number used in international transactions were supervised by the European Committee for Banking Standards - ECBS . The IBAN is currently used in most European countries (including EU states), and in several countries from outside EU. It has a status of ISO 13616 standard.
IBAN structure
The IBAN consists of two-letter county code ISO 3166-1, after which are two control digits, and up to thirty alphanumerical characters which specify the account number, called BBAN ( Basic Bank Account Number). The length of this block is decided by individual countries, whereas the given country must have one, specific length. The BBAN must contain a unique code which identifies the bank, of specific length and specific initial number. Its position and length also depends on the given country.How to use the IBAN for international transfers?
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