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Few Words about IBAN

Have you ever tried to send or receive money internationally? No? Then you obviously haven’t heard about the IBAN code. It was originally used to speed up the processing of international payments in the European Union. Currently, it is used in non-EU countries as well. Its purpose is to facilitate inter-bank settlement transactions and the remittance process.

Structure and Length

The IBAN code can’t contain more than 34 symbols. For example, in France, it consists of 27 characters, in the UK of 22, in Malta of 31, etc. IBAN example in France: FR1420041010050500013M02606.

1–2 — the…


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