International standard (ISO 13616) for bank account identification. Using IBAN allows for automated transaction processing (STP), ensures data accuracy and enhances standardization.
The IBAN is composed of a string of characters indicating the bank account number, bank and branch ID, country code and two checksum digits, as described below:
|Account number||Branch ID||Bank ID||Checksum||Country code|
|Up to 30 characters ||2 characters||2 characters|
|Branch ID||Bank ID||
|13 characters||3 characters||
|2 characters||2 characters|