The latest business news around the world. Written by Market Business News's very own editorial team to deliver reliable, up to date, and honest news.

What is the International Bank Account Number (IBAN)?

The International Bank Account Number (IBAN) is a series of alphanumeric characters used as a means of identifying a specific bank account.

IBANs were first adopted by the European Committee for Banking Standards.

The idea is essentially that each bank account has its own IBAN, which can be used to quickly pinpoint the account’s location anywhere in the world.

The IBAN consists of up to 34 alphanumeric characters.

IBANExample of a British bank statement showing the location of the IBAN. 

The use of IBANs helps expedite automatic processing of cross-border payments and receipts and reduces the need for manual intervention – ensuring proper transmission of data.

In turn, this results in fewer costs and delays that can occur when bank information is missing or incorrect.



 

What do the numbers mean?

  • The first two digits identify the country of the account.
  • The next characters typically identify the National bank code or BIC bank code.
  • The remaining characters usually identify the account’s branch code (sort code) and account number.

Countries that use the IBAN (in blue or orange):

Countries that use the IBAN


European countries that use the IBAN:

Albania – 28 characters long

Andorra – 24 characters long

Austria – 20 characters long

Belgium – 16 characters long

Bosnia and Herzegovina – 20 characters long

Bulgaria – 22 characters long

Croatia – 21 characters long

Cyprus – 28 characters long

Czech Republic – 24 characters long

Denmark – 18 characters long

Estonia – 20 characters long

Faroe Islands – 18 characters long

Finland – 18 characters long

France – 27 characters long

Georgia – 22 characters long

Germany – 22 characters long

Gibraltar – 23 characters long

Greece – 27 characters long

Greenland – 18 characters long

Guernsey – 22 characters long

Hungary – 28 characters long

Iceland – 26 characters long

Ireland – 22 characters long

Isle of Man – 22 characters long

Italy – 27 characters long

Jersey – 22 characters long

Latvia – 21 characters long

Liechtenstein – 21 characters long

Lithuania – 20 characters long

Luxembourg – 20 characters long

Macedonia – 19 characters long

Malta – 31 characters long

Moldova – 24 characters long

Monaco – 27 characters long

Montenegro – 22 characters long

Netherlands – 18 characters long

Norway – 15 characters long

Poland – 28 characters long

Portugal – 25 characters long

Romania – 24 characters long

San Marino – 27 characters long

Serbia – 22 characters long

Slovakia – 24 characters long

Slovenia – 19 characters long

Spain – 24 characters long

Sweden – 24 characters long

Switzerland – 21 characters long

Ukraine – 29 characters long

United Kingdom – 22 characters long


Non-European countries that use the IBAN:

Algeria – 24 characters long

Angola – 25 characters long

Azerbaijan – 28 characters long

Bahrain – 22 characters long

Benin – 28 characters long

Brazil – 29 characters long

British Virgin Islands – 24 characters long

Burkina Faso – 27 characters long

Burundi – 16 characters long

Cameroon – 27 characters long

Cape Verde – 25 characters long

Central African Republic – 27 characters long

Congo – 27 characters long

Costa Rica – 21 characters long

Dominican Republic – 28 characters long

Egypt – 27 characters long

French Guiana – 27 characters long

French Polynesia – 27 characters long

Gabon – 27 characters long

Guadeloupe – 27 characters long

Guatemala – 28 characters long

Iran – 26 characters long

Israel – 23 characters long

Ivory Coast – 28 characters long

Kazakhstan – 20 characters long

Kuwait – 30 characters long

Lebanon – 28 characters long

Madagascar – 27 characters long

Mali – 28 characters long

Martinique – 27 characters long

Mauritania – 27 characters long

Mauritius – 30 characters long

Mozambique – 25 characters long

New Caledonia – 27 characters long

Pakistan – 24 characters long

Palestine, State of – 29 characters long

Réunion – 27 characters long

Saint-Pierre and Miquelon – 27 characters long

Sao Tome and Principe – 25 characters long

Saudi Arabia – 24 characters long

Senegal – 28 characters long

Tunisia – 24 characters long

Turkey – 26 characters long

United Arab Emirates -23 characters long

Wallis and Futuna – 27 characters long


Video – IBAN and BIC