What is an International Bank Account Number (IBAN)?

An International Bank Account Number (IBAN) is a standardized alphanumeric identifier, used mainly in Europe and some other countries, that helps financial institutions route and validate international payments by specifying the account’s country, bank, branch, and individual account number. Introduced through ISO standards to reduce errors, delays, and costs caused by inconsistent national account formats, IBANs can contain up to 34 characters and include a country code, check digits, and a Basic Bank Account Number, with lengths varying by country. Countries such as Australia, the United States, China, and New Zealand generally use account numbers with routing and SWIFT/BIC codes instead. IBANs can usually be found in banking apps or statements and are generally safe to share for receiving payments, though card security details should remain protected. An invalid IBAN will typically cause a transfer to be rejected, while a valid but incorrect recipient account may receive the funds and can be difficult to reverse. IBANs are commonly used alongside SWIFT/BIC codes, including for SEPA euro payments, while transfer costs depend on the payment network, currency conversion, and service provider.

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