IBAN
International Bank Account Number
The international bank account number — a standard in Europe and most countries. Without an IBAN you cannot receive an international transfer. EMIs also issue IBANs.
- What it is
- The international format of a bank account number
- What it looks like
- Two country letters, two check digits, then the account number
- Where it applies
- Europe and most countries of the world; the US uses a different format
- Why it is needed
- Without it an international transfer is usually not credited
- Who issues it
- Banks, as well as licensed EMIs and payment institutions
In plain words
An IBAN (International Bank Account Number) is the international format of a bank account number. Put simply: an ordinary account number written to a single standard, so that any bank in the world understands which country and which bank the account is in.
The structure is always the same: the first two letters are the country code, the next two digits are check digits, followed by the internal account number and bank code. The length differs by country but does not exceed 34 characters. The check digits let the system catch a typo before the money is sent.
The format is used by European countries and dozens of states beyond Europe. The United States and some other countries do not use the IBAN — there the account number and a local bank code are given instead. An important nuance: IBANs are issued not only by traditional banks but also by licensed EMIs and payment institutions, and these are not always equivalent in reliability or in how the receiving party treats them.
When you will need an IBAN
What an IBAN consists of
- Two letters — the country code
- Two check digits
- Protection against typos
- Bank code
- Branch (in some countries)
- Internal account number
- Europe and the EEA
- Dozens of countries outside Europe
- The US uses a different format
- Traditional banks
- EMIs and payment institutions
- The licence status matters
How to use an IBAN correctly
- 01Request the details officially
- 02Check the IBAN and the account holder’s name
- 03Give the bank’s BIC
- 04Send the transfer
- 05Receive confirmation of crediting
What you need to know
- An IBAN does not replace a BIC — both are usually needed
- The account holder’s name must match the details
- Check digits catch a typo, but not a substitution
- State programmes do not always accept an IBAN from an EMI
- The number format differs by country
Common mistakes
- Taking the IBAN from correspondence rather than an official letter
- Mixing up similar characters when typing by hand
- Sending money to an IBAN in someone else’s name
- Assuming any IBAN is a “European bank account”
- Not checking whether the recipient accepts payments from an EMI
What this means for a BRIDGES client
We check the payment details before the money is sent: we compare the IBAN and the holder’s name with the recipient’s official letter and confirm in advance whether the receiving party accepts payments from your type of account. It is the cheapest insurance against returns and lost time.
Frequently asked questions
01 /What is an IBAN, in plain words?
It is your bank account number in international format. With it any bank in the world understands which country and which bank the account is in.
02 /Is a BIC needed if you have an IBAN?
As a rule, yes. The IBAN points to the account, the BIC to the bank. Many banks require both for an international transfer.
03 /Do all countries have IBANs?
No. The format is used by European countries and dozens of states beyond Europe, but the United States, for example, uses a different set of details.
04 /Is an IBAN from an EMI the same thing?
Technically the number works the same way, but behind it stands not a bank but a licensed payment organisation. Some state programmes, notaries and sellers do not accept such payments.
05 /What should you do if there is an error in the IBAN?
Most often the payment will not go through because of the check digits, or it will be returned to the sender. Contact your bank at once — the chances of a quick return are higher before the money is credited.
06 /Can an IBAN be in someone else’s name?
It can, but for citizenship and residence programmes it is almost always a problem: the payment is expected from the applicant themselves. A name mismatch raises compliance questions.
See also
Read next
This material has undergone editorial review by BRIDGES.
Unsure about the payment details?
We will check the account and payment conditions before the transfer — so that the money goes where it should, first time.