An IBAN, or International Bank Account Number, serves as a unique identifier for bank accounts used in global payments.
The IBAN format is standardized internationally under ISO 13616:2003. It typically begins with a two-letter country code followed by two digits, and includes up to thirty-five alphanumeric characters that uniquely identify the recipient’s bank account.
No, they refer to the same concept. A normal bank account includes both a Basic Bank Account Number (BBAN) and an International Bank Account Number (IBAN). The IBAN includes additional information that helps identify the recipient’s country, enhancing verification for cross-border payments.
To ensure your payment reaches its intended recipient smoothly through Transfer Vault, you’ll need to provide both their IBAN and SWIFT code.
If you’re interested in local UK and EU IBAN solutions or need support with cross-border payments, Transfer Vault is here to help.
