IBANs simplify money transfers between European Union bank accounts
The International Bank Account Number (IBAN) has been a requirement for payments between European Union countries and Norway, Switzerland, Liechtenstein and Iceland since January 1, 2007. Made up of a combination of letters and numbers that define a country, bank and account number, each IBAN is unique to each bank account. Attempting money transfers between these countries without using an IBAN can result in the payment being delayed and possibly rejected.
Instructions
1. Look at your bank statement. If you have an account with a bank within the European Union or Norway, Switzerland, Liechtenstein or Iceland, your account's IBAN will be located near your account number. As of 2010, no U.S. bank uses the IBAN system.
2. Log onto your account through your bank's online website. Register at the site if you have not used the site before. Your IBAN will appear in your information on the website.
3. Visit a local branch of your bank if you are unable to locate your IBAN either on your statement or online. Ask for assistance in identifying your IBAN. If you do not have one, ask for one to be assigned to you.
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