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Q:

What is an IBAN?

A:

An IBAN is an International Bank Account Number, this is a standard way to uniquely identify an account to improve the efficiency and speed of cross-border payments.

Whenever you make a European cross-border payment, you use an IBAN together with a bank identifier code (BIC) to identify the account you want to credit.

An IBAN is not a new bank account number. It uses the existing bank account details plus additional characters. Bankline will alert you if you have not entered the IBAN in a valid format for that country. A sample IBAN layout is shown on the Bankline payment screen.

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