IBAN stands for International Bank Account Number

The number is attached to all accounts in the EU countries plus Norway, Switzerland, Liechtenstein and Hungary.

The IBAN is made up of a code that identifies the country the account belongs to, the account holder's bank and the account number itself. The IBAN makes it easier and faster to process cross-border payments.

How is an IBAN constructed?

The number comprises maximum 34 alphanumerical characters, which are structured as follows:

Two letters representing the home country of the account-holding bank (ISO 3166 country code with two letters, e.g. IE for Ireland)
Two numbers that are a control key
Maximum of 30 alphanumeric characters that identify the bank and the ordinary account number

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