When do you need an IBAN?

If you ’re sending or receiving money internationally, most European banks will need you to use an IBAN. It’s the safest and most efficient way of making sure your money gets to where it needs to be. More banks around the world are starting to adopt this system, but you may need more details to send money to other countries.

How banks create IBAN codes?

Banks and other institutions create IBANs to represent individual accounts. They combine your local bank details into one string of characters - making it easy to identify your account when sending or receiving money.

IBANs usually start with a reference to the country, and end with the individual bank account details. This tool will tell you the name of the bank, extract the local account details, and show you what each section represents.

Where can I find my IBAN number?

You can usually find your IBAN number by logging into your online banking, or checking your bank statement. If you want to send money overseas, it's important that you use the correct IBAN code. If you get it wrong, your bank might charge you for an invalid payment or send your money to the wrong destination.

Which Countries Use IBAN for Bank Transfers?

The IBAN (International Bank Account Number) system is used in more than 70 countries worldwide to ensure safe and accurate cross-border payments. It is mandatory across Europe in all EU and EEA countries, including Germany, France, Italy, Spain, the Netherlands, as well as Switzerland, Monaco, and San Marino, where IBAN is required for both domestic and international transfers. In the Middle East, countries like the United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Bahrain, Jordan, Lebanon, and Iraq use IBAN to support fast and secure banking, especially for international workers sending money home. Several African nations such as Egypt, Tunisia, Mauritania, and Cape Verde have also adopted the IBAN system, while in Asia, countries including Pakistan, Israel, Kazakhstan, and Palestine use IBAN for smooth money transfers.

However, some countries like India, the United States, Canada, Australia, and New Zealand do not use IBAN and instead rely on SWIFT/BIC codes with standard account numbers. Knowing which countries use IBAN is important for anyone sending or receiving international payments, and with TOWB you can easily verify IBANs to ensure your transactions are secure, error-free, and delivered on time.