IBAN, Swift Code And BIC

IBAN, Swift Code, and BIC: Understanding the Basics

 

What is an IBAN?

 

The International Bank Account Number (IBAN) is a standardized format used worldwide to identify bank accounts. It consists of a two-letter country code followed by up to thirty alphanumeric characters. For EU residents, you can easily locate your IBAN number on your bank statement.

 

What is a Swift code?

 

A Swift code, also known as a Bank Identifier Code (BIC), is a unique code assigned to your bank branch. It typically consists of 8 or 11 characters. You can find this code on your chequebook or bank statement, making it easier to identify your specific branch. In case you need assistance, don't hesitate to reach out to your branch directly for accurate information.

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