Why do I now need to include an IBAN in my NetBank IMT to a European Bank or European Economic Area?
An IBAN is necessary in order to ensure proper routing of IMTs to many countries in the European Union. The Commonwealth Bank may be unable to process your IMT to some European countries without a valid IBAN. The Commonwealth Bank may be unable to process your IMT to some European countries or European Economic Area’s without an IBAN or BIC. If the IBAN or BIC is missing or incorrect, the charge (which may be substantial) may be applied by the beneficiary bank and your IMT may be rejected. Beneficiary bank charges may be deducted from your payment or charged back to you.
Related Questions
- Will there be higher risk hurdles to cross for outsourcing outside the European Economic Area, the EU States plus Switzerland, Norway and Liechtenstein ("EEA")?
- Do you licence technology or manufacture and distribute under licence within the European Economic Area ("EEA")?
- Why do I now need to include an IBAN in my NetBank IMT to a European Bank or European Economic Area?
