Understanding IBAN: A Comprehensive Guide and IBAN Countries List

The International Bank Account Number (IBAN) is an internationally recognized system for identifying bank accounts. It includes specific information about the bank and the account holder, such as the country code, bank code, branch code, and account number. It is used in most European countries, as well as some non-European countries to conduct cross-border transactions. In this article, we will explore the countries that have adopted the IBAN system, making it easier for individuals and businesses to engage in international banking and payments.

How to Find Your Bank Number

To find out your IBAN, you have a few options. Firstly, you can check your bank statement, as the IBAN is often included in the account summary or account details section. Secondly, you can contact your bank directly either through customer service or by visiting a branch and provide them with your account information to obtain your IBAN. If you have access to online banking, you can log in to your account and navigate to the account details section where your IBAN should be displayed. Additionally, some banks provide online tools or IBAN validators on their websites that allow you to generate or validate your IBAN by entering your account details. Lastly, you can use online IBAN calculators available on various websites. These calculators require you to input your country code, bank code, branch code, and account number, and they will generate your IBAN for you.

SEPA vs IBAN

SEPA stands for Single Euro Payments Area and is an initiative that integrates payments in the European Union. It makes it very easy to make bank transfers in this area in a common currency, Euro. SEPA countries usually have IBANs that they can use to make cross-border transfers. Read our full article on what SEPA is.

However, some banks within SEPA do not have IBANs. As such, to make bank transfers to such banks, you may need to use SWIFT.

IBAN vs SWIFT

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. Its purpose is to identify bank accounts when making a cross-border bank transfer. Both SWIFT and IBAN are important when sending money abroad.

The difference between SWIFT and IBAN is the information they contain. SWIFT is used by a specific bank when making a cross-border transfer while IBAN is used to identify a specific account used in making a cross-border transfer.

Which Countries Use IBAN?: IBAN Countries List

These are countries where IBAN is mandatory:

These are countries where the use of IBAN is recommended.

IBAN Discrimination

In some instances, you are likely to find a bank or an institution that does not accept IBAN. Instead, they require you to have a local bank account. This is called IBAN discrimination and is illegal.

The truth is that your account should be accepted by the EU regardless of which EU country you are from. You can report an institution that is IBAN discriminatory for action to be taken. When you report IBAN discrimination, your personal information will be hidden and no one can know it is you who reported it. Learn more about IBAN discrimination here.

Some online banks do not use IBAN of the countries where all their customers reside. For instance, Bankera uses Lithuanian IBAN and N26 uses German, Italian and Spanish IBANs.

Non IBAN Countries List

Countries that do not use IBAN typically have their own national bank account number formats. For example, in the United States, bank account numbers are formatted as 9 digits, with the first two digits being the bank’s routing number and the last 7 digits being the account number. If you are sending money to a country that does not use IBAN, you will need to use the national bank account number format.

Here is a list of countries that do not use IBAN. Please note that this list is not exhaustive:

• Australia
• Bolivia
• Canada
• Hong Kong
• Indonesia
• Japan
• Mexico
• New Zealand
• Philippines
• Singapore
• South Africa
• Thailand
• United States
• Vietnam

IBAN Countries: Simplifying International Payments

In summary, the IBAN system is widely used in many countries, especially in Europe. It has made international payments smoother and safer by standardizing account numbers. Countries from the European Union and the Middle East have embraced IBAN, making it important for individuals and businesses involved in global transactions to know which countries use it. This knowledge ensures that the correct account details are provided, preventing mistakes and delays in payments.