GLOSSARY
IBAN (International Bank Account Number)
A standardized account identifier up to 34 characters used to route cross-border payments accurately.
An IBAN is an alphanumeric string of up to 34 characters that uniquely identifies a bank account for international transfers. It begins with a two-letter country code, two check digits, and the domestic Basic Bank Account Number (BBAN).
Why it matters
SEPA payments require a valid IBAN, and most European, Middle Eastern, and North African banks reject wires without one. The built-in check digits let your treasury system catch typos before submission: a single transposed character fails the modulo-97 validation defined in ISO 13616, preventing misrouted funds and costly repair fees.
You can verify IBAN formats and country-specific structures using the SWIFT IBAN Registry at swift.com/standards/data-standards/iban-international-bank-account-number.