Meaning of IBAN
What Does IBAN Mean?IBAN (International Bank Account Number) is an internationally agreed system for identifying bank accounts across national borders to facilitate the communication and processing of cross-border transactions with a reduced risk of transcription errors.
IBAN was introduced in 1997 as a unifying standard to overcome the regular routing errors caused by the existence of several bank transfer systems which did not have error checking incorporated in their design. It was originally adopted by the European Committee for Banking Standards (ECBS), and in the same year the International Organization for Standardization (ISO) formalised IBAN internationally by creating ISO 13616:1997 (with improvements following in 2003 and 2007.)
IBAN consists of up to 34 alphanumeric characters, comprising a country code, two check digits and a long and detailed bank account number. It carries all the routing information needed to get a payment from one bank to another wherever it may be.
Summary of Key Points
Definition for IBANIBAN means "International Bank Account Number". This is the most common definition for IBAN on Snapchat, WhatsApp, Facebook, and Twitter. Here is some more information about IBAN:
|Definition:||International Bank Account Number|
2: Quite easy to guess
Adults and Teenagers
An Image for IBANWhen I write IBAN, I mean this:
The image shows a typical IBAN number used to identify bank accounts.
Examples of IBAN in SentencesHere is an example of IBAN being used in a conversation:
- Person A: Hi, Tony. I am trying to pay your invoice, but I need your bank’s IBAN number to transfer the funds.
- Person B: How do I find that information?
- Person A: If it is not on your bank statement you can probably Google it.
An Academic Look at IBANIBAN is an acronym (i.e., an abbreviation spoken like a word). Acronyms differ from initialism abbreviations, which are pronounced using their individual letters.
A Text with IBAN
Using IBAN on a Cell Phone (SMS Texts, Whatsapp, and Yubl)