What is the IBAN?

The International Account Number (IBAN) is an international bank account structured according to to the standards confirmed by the ECBS (European Committee for Banking Standards). Every bank account can be converted to IBAN account by the bank in which it is held.

IBAN’s purpose is to facilitate the automatic processing of cross-border fund transfers. In this way, the correct bank account transmission is being secured and there is a reduction of manual intervention.

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