![]() Read What is a SWIFT code? Cheaper alternatives to bank transfers It is important to understand the different roles they both play in the processing of international money transfers. The main difference between the two is that a SWIFT code refers to the corresponding bank code, whereas an IBAN number identifies a specific account. It is easy to get confused by these two terms as they are both internationally recognised methods of identifying money transfers. They may also be called for during other international payment procedures such as setting up a wire transfer. When will you need to use an IBAN number?Īs the name suggests, an International Bank Account Number is used for sending and receiving interbank transfers. It is always better to be safe than sorry when it comes to moving your hard-earned money. The same goes for those who want to verify their IBAN number before submitting an international money transfer. Simply enter your home country, bank account number and sort code, and the calculator will generate your IBAN. If for any reason you are struggling to find your IBAN number, there are several IBAN calculators available online for those who need a helping hand. Alternatively, you can search for the IBAN on your bank's website and by calling or visiting your branch. Your IBAN number can be found on bank statements or in your online/mobile banking account. Do you know how long your IBAN number is? How do you find an IBAN number? ![]() Conversely, the shortest IBAN numbers are found in Norway where they are just 15 characters long. The prize for the longest IBAN is awarded to Malta their IBAN numbers are comprised of 31 characters. The sequence of alphanumerical characters that can make up an IBAN number differs depending on the region/country, a 22 character example would look as follows:Īn example of an IBAN is: GB25HLX11073611219664 Did you know. This globally-established coding system is primarily practised by banks within Europe, but it is becoming more widely used by countries outside the EU. An IBAN is used to identify the individual account involved in an international transaction. ![]() IBAN stands for International Bank Account Number and they are called for when sending or receiving international payments. South Georgia and the South Sandwich Islands. ![]()
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