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IBAN Converters: A Complete Guide to Generating IBANs

For some customers, in spite of having used the services of a bank their whole life, the concept of an IBAN is entirely foreign: sometimes literally. This makes sense when considering that customers who have never sent money overseas will not need to use an IBAN. This guide, therefore, is aimed at explaining why IBANs exist, what they represent, and how to convert and decode certain bank details to find out an IBAN when arranging an international money transfer.

April Summers
Author 
April Summers
2 minutes
December 12th, 2023
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What is an IBAN?

The IBAN, or International Bank Account Number, has been designed to reduce transaction errors when transferring money internationally. An IBAN is an alphanumeric code consisting of the bank name, branch, routing code and account number. It is used to identify the account of a customer at a bank when sending money from an account in one country to an account overseas. Verifying your beneficiary’s IBAN number will determine the difference between a payment arriving safely at its destination or getting lost in the system.

Although the format differs country to country, IBAN numbers will contain the following information:

  • Country code

  • Account number

  • Bank identifier code

  • Check digits

Why you might need an IBAN

If you are making an international payment to a bank account in any of the 80 countries that use IBAN numbers, you may be required to provide this information.

Another globally recognized, standardized method of identification when making international payments is BIC or SWIFT codes.

Both SWIFT codes and IBANs are crucial components of transferring money to a foreign country and both systems have effectively enhanced the process of sending cross-border money transfers.

An IBAN converter works much like an IBAN calculator as it uses information such as the national bank account number - also known as the Basic Bank Account Number or BBAN - to convert bank details into the relevant International Bank Account Number.

How to convert an IBAN

Depending on the country you are located in IBAN conversions will be conducted by requesting some, or all, of the following information:

  • Sort code

  • Account number

  • Bank/branch code

  • Bank name

Due to technological advancements, free online converter tools are designed to take this limited banking information and convert it into the IBAN required to successfully process cross-border transactions.

Verify the results of an IBAN converter by using an IBAN checker to make sure the correct bank or financial institution has been selected.

Summary

This guide has been written in an attempt to present the basic information required for a customer to issue a successful international money transfer, albeit through a bank or with a money transfer service like the ones listed on our companies page. Readers interested in discovering the best value deal for their global remittance, should use our comparison tool to find out more.

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Contributors

April Summers
April Summers is an experienced Senior Financial Content Editor who combines a wide range of professional skills with her academic background in English literature and journalism. Her professional background includes key positions at the Daily Star, LBB Online, and Entertainment Daily UK, which have sharpened her financial and journalistic expertise.