What is an International Bank Account Number (IBAN)?
IBAN stands for International Bank Account Number. We add a few extra characters to your existing account number to create your IBAN. This can be found at the top right hand corner of your statement. IBANs have been introduced to standardise the identification of bank accounts across Europe. We’ve teamed up with banks across Europe to improve the quality of information we send between each other. IBANs will make sure that any cross border payments are done correctly and efficiently. You should include the IBAN when requesting a foreign transfer whenever possible to avoid additional charges from the overseas banks.
The IBAN is a number that uniquely identifies a customer’s bank account. The IBAN consists of an alphabetical country code, followed by two check digits, and up to thirty alphanumeric characters for the bank account number. An example of an IBAN and its components follows: Do not enter hyphens or spaces (e.g. enter GB 12 CPBK 0892 9965 0449 91 as GB12CPBK08929965044991).
IBANs are being introduced to standardise the identification of bank accounts. The IBAN is not a new account number. 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. IBANs will improve the quality of information exchanged between parties involved in European cross border payments and reduce errors and delays. Important points to note FX Solutions Limited complies with all current money laundering legislation and guidelines. Some overseas banks may charge you to receive your foreign exchange transfer. If you would like FX Solutions to contact you with further information and the very best rate please click here to complete the on-line form. Please note: If you have any kind of “pop-up” blocker on your PC you will need to deactivate this to receive further information * Subject to us being in receipt of cleared funds in settlement from you.
