What are BIC and IBAN?
IBANs are used with BICs in Europe to standardise the identification of bank accounts, representing national account numbers in an internationally recognised standard format. The Bank Identifier Code (BIC) is either 8 or 11 characters long and the International Bank Account Number (IBAN) can be up to 34 characters long, a combination of letters and digits. BIC and IBAN details can be found on your bank statement. The BIC may also be referred to as SWIFTBIC or SWIFTCODE. If the Sender provided your BIC and IBAN details, the transfer will be completed automatically without any intervention needed by you. If you have been sent money to an email address, you can provide your BIC and IBAN details to receive the money to your bank account.
