GlossaryTerm · Banking

What is an IBAN?

By Tokenova Editorial Desk

The long account number that makes cross-border transfers less error-prone.

2 sources ↓
An old bank document from a national bank with a handwritten payee and amount
Photo: “Bank statements, deposit slips and other account information” by Union Colony of Colorado, compiler, Public Domain Mark 1.0 (edited: cropped, colour-graded)

Quick answer

An IBAN (International Bank Account Number) is a standard format for identifying a bank account, defined by ISO 13616, with Swift as its registration authority⁠[1]. It starts with a two-letter country code and two check digits, followed by the national account number of up to 30 characters⁠[2].

Key points

  • IBAN stands for International Bank Account Number and follows the ISO 13616 standard.
  • Structure: country code, two check digits, then the domestic account details (the BBAN).
  • The check digits use the MOD 97-10 method, which helps catch typing mistakes before a payment is sent.
  • Not every country uses IBANs; the United States, Canada and Australia are not in the IBAN registry.
On this page
  1. What is an IBAN used for?
  2. How is an IBAN built?
  3. Do all countries use IBANs?
  4. FAQ
  5. Sources

#What is an IBAN used for?

Swift explains that the IBAN facilitates the automation of cross-border payment processing⁠[1]. Instead of every country's account numbers looking different, an IBAN wraps the domestic number in a common format that banks' systems can check automatically. Each country sets its own national IBAN format within the ISO 13616 standard, and ISO has designated Swift as the registration authority that publishes them⁠[1]. IBANs appear in many international and European transfers; see cross-border payments explained.

#How is an IBAN built?

According to the Swift IBAN registry, an IBAN is a two-letter ISO 3166-1 country code, followed by two check digits and up to thirty alphanumeric characters for the BBAN, the basic bank account number used at home⁠[2]. Lengths are fixed per country: the registry lists 22 characters for the United Kingdom and Germany, 27 for France and 15 for Norway⁠[2]. On paper, IBANs are printed in groups of four characters to make them easier to read.

Worked example

Example: checking the registry's UK sample IBAN

The registry's UK example is GB29 NWBK 6016 1331 9268 19. The registry says the check digits follow the ISO/IEC 7064 MOD 97-10 scheme⁠[2]. To check it, move the first four characters to the end, turn each letter into a number (A = 10 … Z = 35) and divide by 97; under this scheme a valid IBAN leaves a remainder of 1. All steps were computed with code.

Rearranged
NWBK60161331926819GB29
Letters converted to numbers
2332112060161331926819161129
Remainder after dividing by 97
1 (valid)
Same IBAN with last digit typed as 8
Remainder 71 (rejected)

#Do all countries use IBANs?

No. The United States, Canada and Australia are not listed in the Swift IBAN registry (release of September 2026)⁠[2], so payments to accounts there rely on other, national account details. To see how payment messages carry account data, read ISO 20022 explained. Related terms: neobank and settlement.

Frequently asked questions

Is an IBAN the same as a SWIFT/BIC code?

No. The IBAN identifies an account; a BIC identifies a bank. Swift acts as registration authority for the IBAN standard⁠[1].

Does a correct IBAN guarantee the money reaches the right person?

No. The check digits catch typing errors, but a valid IBAN can still belong to someone else, so confirm details with the recipient before you pay.

Sources

  1. International Bank Account Number (IBAN) — Swift Primary
  2. IBAN Registry (Registration Authority for ISO 13616), Release 103 — Swift, 2026 Primary

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