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What is an IBAN?

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.

Is an IBAN different from a normal 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.

Sending a payment using Transfer Vault. What information do I need?

To ensure your payment reaches its intended recipient smoothly through Transfer Vault, you’ll need to provide both their IBAN and SWIFT code.
  • IBAN: This identifies the individual bank account where the payment will be sent.
  • SWIFT code: This identifies the specific bank receiving the payment.

Need assistance with opening local IBANs or sending cross-border payments?

If you’re interested in local UK and EU IBAN solutions or need support with cross-border payments, Transfer Vault is here to help.
Contact us at [email protected] or visit our Contact Us page to connect with our local teams in London, Dubai (DIFC), Amsterdam, Luxembourg, Riga, Singapore, and Hong Kong. We’re committed to simplifying your international banking needs with secure, efficient solutions tailored to your business.

Do you require any additional help?

Contact us to learn more about our services and receive assistance from our dedicated support team.
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