An IBAN, or International Bank Account Number, is used to make international payments. The IBAN identifies the country, financial institution and the individual bank account. It's not a new bank account number, but it uses your existing bank account details plus additional characters.
If you're receiving an international payment, you'll need to give the payer your IBAN and BIC
To send an international payment, you'll often need the payee's IBAN (dependent on the location), and if you're sending a SEPA Credit Transfer, also called a SEPA payment, you'll always need their IBAN. Certain countries, including the US, Canada, China and Australia, don't use IBANs and instead use their own combination of account numbers and routing codes etc.
IBANs can vary in length, depending on the country, but every country’s IBAN begins with a two-letter, country prefix. Bankline will alert you if you've not entered the IBAN in a valid format for that country. If the country you’re sending a payment to doesn’t use IBANs, then you'll need an account number instead. This is a simple identifying number, but it will vary in length depending on the country.
I: IBANs (International Bank Account Numbers) are used by all countries in the SEPA zone and certain other countries.
