What is an IBAN number?
The International Bank Account Number (IBAN) is the international standard for identifying international bank accounts across national borders. The IBAN is comprised of a maximum of 27 alphanumeric characters within Europe and a maximum of 34 outside of Europe (German IBAN: 22 characters). At present, the United States does not participate in IBAN. Therefore, our Bank (Bank of America) does not have an IBAN number. When sending wire transfers to countries that have IBAN numbers, we recommend including those numbers in your wire transfer documentation. According to the European Directive, only the account-keeping bank may calculate the IBAN / check digits. To obtain the IBAN numbers of another bank, please visit that banks website or contact them directly to obtain that information.
The IBAN number is the number that allows your bank account to be recognized internationally. This number consists of your BIC (Bank Identification Code) and your full account number. If you are uncertain as to how to calculate your IBAN, please contact your bank in order to receive the information necessary to determine the IBAN.
IBAN stands for the International Bank Account Number and is used by banks in European countries for international funds transfers. Every customer has their own unique IBAN, which should be quoted for all international funds transfers. The format of IBAN for Citibank-UK customers is as follows GBXXCITIYYYYYYZZZZZZZZ where GB – Great Britain, XX – Two digit numeric code, CITI – Citibank, YYYYYY – Citibank-UK’s Sort Code, and ZZZZZZZZ – Your 8 digit Citibank Account number.
IBAN’s are a banking initiative that has been undertaken by the European Union. The idea is that every bank account in the EU has a unique account number that identifies which bank, branch and account number to which a payments needs to be credited. As such the structure of an IBAN is very specific but there are variations in length depending on the country the payment is being sent to. It is important that where possible an IBAN is provided to all payments that are sent to the European Union as it will increase the efficiency of the payment and reduce delays. In addition there are some non-EU countries that also use IBAN’s for example (but not limited to) Turkey, Switzerland, Israel, Tunisia and Faroe Islands. An Example of an IBAN is as follows France KRkk BBBB CCCC CCCC CCCC CCCC United Kingdom GBkk BBBB SSSS SSCC CCCC CC Where B= Bank code, S= sort code, C= Account number Other Types of Payment Formatting For payments to New Zealand please ensure that you always provide the BSB num
