IBAN is an acronym for International Bank Account Number. It is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors.
Initially developed to facilitate payments within the European Union, it has been implemented by most European countries and numerous countries in other parts of the world, mainly in the Middle East and the Caribbean.
The IBAN consists of up to 34 alphanumeric characters comprising a country code; two check digits; and a number that includes the domestic bank account number, branch identifier, and potential routing information. The check digits enable a check of the bank account number to confirm its integrity before submitting a transaction.