IBAN and BBAN

IBAN

An International Bank Account Number – IBAN – is the standardised international bank account format developed to unambiguously identify a customer bank account in any given country using IBAN. The IBAN always starts with the two-letter ISO 3166-1 alpha-2 country code, followed by two check digits and the BBAN (see below).

The length of an IBAN varies due to the country’s domestic banking system. An IBAN can be a minimum of 14 characters but currently Norway has the shortest IBAN at 15 characters. The maximum length is 34 characters but currently the longest IBAN is held by Saint Lucia at 32 characters. Some IBANs can have other more letters in them which is common for UK IBANs.

Examples:

Norway: NO93 8601 1117 947
Saint Lucia: LC55 HEMM 0001 0001 0012 0012 0002 3015
United Kingdom: GB29 NWBK 6016 1331 9268 19

Note that the United Kingdom’s country code is GB, not UK.

It is common to write an IBAN with spaces for legibility. Remove the spaces when using IBAN to make payments.

All IBANs are created with a validation algorithm. Electronic banking services will validate the IBAN based on this algorithm calculation. This is however not a confirmation that the account is otherwise correct or exists in the other bank.

When to use IBAN

Within SEPA an IBAN is always mandatory regardless of payment currency. SEPA also follows the IBAN-only principle meaning that you do not need to provide a BIC (Business Identifier Code) when making a payment to a SEPA country.

Many countries outside of Europe have mandated the use of IBAN. Countries in the process of transitioning from BBAN to IBAN will often state that IBAN is optional. It is strongly advised to always use IBAN when given the option. The IBAN format reduces the risk of errors compared to using BBAN. For all of these countries outside of Europe a BIC is always mandatory.

Where is my IBAN?

You can find your IBAN in your electronic banking service or your account statement. If you are expecting a transfer or payment from abroad, provide your IBAN and BIC to the remitter.

BBAN

A Basic Bank Account Number – BBAN – is a bank account number that includes the domestic bank code, branch identifier and account number. BBANs are based on the domestic banking system, often requiring the use of a bank code in addition to the bank account number. The BBAN is the last part of the IBAN when used for international funds transfers. The number of countries transitioning from BBAN to IBAN continues to grow every year.

In the attached document you will find a list of countries that use IBAN as well as other IBAN related information.

 

See Country and Currency list here