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International Bank Account Number

IBAN stands for International Bank Account Number

The number is attached to all accounts in the EU countries plus Norway, Switzerland, Liechtenstein and Hungary.

The IBAN is made up of a code that identifies the country the account belongs to, the account holder's bank and the account number itself. The IBAN makes it easier and faster to process cross-border payments.

How is an IBAN constructed?

The number comprises maximum 34 alphanumerical characters, which are structured as follows:

  • Two letters representing the home country of the account-holding bank (ISO 3166 country code with two letters, e.g. IE for Ireland)
  • Two numbers that are a control key
  • Maximum of 30 alphanumeric characters that identify the bank and the ordinary account number
International Bank Account Number

Read the full story at: Danske Bank Group

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