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IBAN
(International Bank Account Number)
IBAN (International Bank Account Number) is an internationally agreed system for identifying bank accounts across national borders. The IBAN consists of up to 34 alphanumeric characters including a country code, check digits, and the domestic account number.
Used primarily in Europe but recognized worldwide, IBANs facilitate efficient cross-border transactions and reduce errors in international payments. When sending money abroad, the IBAN works alongside the SWIFT Code to ensure funds reach the correct account. The system has been adopted by over 70 countries and is mandatory for EUR payments within the Single Euro Payments Area (SEPA).
Used primarily in Europe but recognized worldwide, IBANs facilitate efficient cross-border transactions and reduce errors in international payments. When sending money abroad, the IBAN works alongside the SWIFT Code to ensure funds reach the correct account. The system has been adopted by over 70 countries and is mandatory for EUR payments within the Single Euro Payments Area (SEPA).