What is an IBAN?
An IBAN (International Bank Account Number) is a unique code used to identify your bank account in international financial transactions. It ensures that banks can correctly and quickly process transfers between countries.
What does an IBAN look like?
An IBAN consists of the following parts:
- Country Code: The first two letters represent the country where the account is opened (e.g., "GB" for the United Kingdom, "UA" for Ukraine).
- Check Digits: Two digits that help verify the correctness of the IBAN.
- Bank Identifier: This part includes the bank code, which can vary in length depending on the country.
- Account Number: The remaining characters represent the specific account within the bank.
For example, an IBAN for a bank in Ukraine might look like this: UA11 1111 1111 1111 1111 11.
When to Use an IBAN
An IBAN is required for conducting international transfers, such as when you’re sending or receiving money from another country.
How to Find Your IBAN
You can find your IBAN:
- On your account statements
- In your online banking
- By contacting your bank
Do You Need to Keep Your IBAN Confidential?
While it's essential to handle your financial information carefully, providing your IBAN to someone who needs to send you money is safe and necessary for the transaction.
Tips for Proper Use
- Ensure that you enter the IBAN correctly when making international transfers.
- If you have questions or doubts about the IBAN format, don’t hesitate to contact your bank.
Our goal is to make your financial transactions as convenient and secure as possible. If you have any questions or need assistance, feel free to contact our support team.
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