What is an “IBAN” (International Bank Account Number)?
IBAN numbers are being introduced to standardise the identification of bank accounts. It is not a new account number so your existing bank code and account numbers will not be replaced, but additional characters will appear in front of them. The complete identifier will be known as the IBAN. It is intended this will improve the quality of information exchanged between parties involved in European cross border payments and reduce errors and delays.
