IBAN (International Bank Account Number)

An IBAN (International Bank Account Number) is a standardized code that uniquely identifies a customer's bank account across countries, making international transactions more efficient and accurate. It combines country codes, bank identifiers, and your specific account number into a single, structured sequence. This helps banks and financial institutions verify where the money is coming from or going to, reducing errors and delays in cross-border transfers. Essentially, an IBAN ensures your international payments are directed correctly, streamlining global banking with a clear, consistent format.