IBAN verification

IBAN verification

IBAN (International Bank Account Number) is a number of the customer’s bank account as per international numbering standards.

IBAN structure: first two letters – state code, then follow two check digits and a combination of letters and digits or digits only – code of the bank and/or its branch and the account number (the number of characters depends on the IBAN length used in a particular country).

In electronic form, IBAN should not contain any spaces, punctuation marks or other symbols (in printed form only, IBAN may contain spaces to split characters into groups and thus make it better discernible).

Advantages of the IBAN Format

IBAN allows identifying customer’s account in a particular financial institution or its branch.

Check digits confirm correctness of the specified customer’s bank account number.

Specifying account number in IBAN format, you lessen the potential for errors or delays in performing a transfer, and also lessen the possible risk of incurring additional costs due to manual transfer processing.