IBAN (international bank account number) is an internationally recognised system to identify bank accounts around the world. It’s used to facilitate the processing of cross border payments.
IBAN consists of 34 alphanumeric characters - a unique sequence that helps to identify a specific bank account.
Country code: identifies which country an account is issued/held in.
Check number: validates the account number and routing destination.
Bank code: identifies the specific bank that holds the account.
Account number: identifies the individual account.
What does this mean for Neat customers?
There are a few countries where we can send payments to that requires IBAN. Find out what bank account information is necessary per destination by logging on to your Neat dashboard.