What is IBAN (International Bank Account Number)?

An IBAN is a standardised international account identifier of up to 34 alphanumeric characters that uniquely identifies a bank account across borders, combining the country code, two check digits and the domestic account number.

IBAN was introduced by the European Committee for Banking Standards and is now mandatory for cross-border payments in Europe and the Single Euro Payments Area (SEPA). A Swiss IBAN is 21 characters (e.g. CH93 0076 2011 6238 5295 7), a German IBAN is 22 characters (DE89 3704 0044 0532 0130 00), a French IBAN is 27 characters, and an Italian IBAN is 27 characters as well.

The two-digit check sum after the country code is computed with a mod-97 algorithm, which means most typos are caught before the payment leaves your bank. Combined with the BIC (the bank's SWIFT code) the IBAN tells the payment network exactly which institution and which account should receive the funds. Inside SEPA the BIC is now optional ('IBAN-only' rule).

Always copy and paste the IBAN; never re-key it manually. A single transposed character routes the payment to the wrong account, and while the recovery process exists it is slow and not always successful. Save your most-used IBANs in your bank's beneficiary list — most apps will pre-validate the check digits and warn you if the number is malformed.

Example

To send EUR 2,000 from Germany to a Swiss freelancer, the payer enters IBAN CH93 0076 2011 6238 5295 7. The mod-97 check digits validate, the BIC POFICHBEXXX is auto-populated, the payment is converted to CHF at the bank's spot rate and arrives in 1–2 business days for a SEPA-equivalent fee of around EUR 5.

Related terms

SWIFT / BIC Code

A SWIFT code, also called a BIC (Bank Identifier Code), is an 8 or 11-character identifier that uniquely names a financial institution worldwide, used to route international payments to the correct bank, branch and country.

Wire Transfer

A wire transfer is an electronic, account-to-account payment in which the sending bank pushes funds through a payment network (SEPA, SIC, SWIFT) directly to the receiving bank, typically settling the same day or within 1–2 business days.

Direct Debit

A direct debit is a recurring payment arrangement in which you authorise a company to pull a variable or fixed amount from your bank account on agreed dates, used for utility bills, insurance premiums, gym memberships and subscriptions.

Standing Order

A standing order is a customer-initiated instruction to your bank to transfer a fixed amount to the same beneficiary on the same day of each month (or week, quarter, year), used for rent, savings sweeps and regular allowances.

Frequently asked questions

Why does my IBAN have a different length than my neighbour's?+

IBAN length is set per country: 21 in Switzerland, 22 in Germany, 27 in France and Italy, up to 34 globally.

Do I still need a BIC inside Europe?+

Inside SEPA the BIC is optional under the IBAN-only rule, but it speeds up routing for some banks.

Is sharing my IBAN risky?+

No — an IBAN alone cannot be used to withdraw money. It is comparable to sharing a postal address.